Equitrans Midstream (NYSE:ETRN) Stock Price Up 3.6%

Shares of Equitrans Midstream Co. (NYSE:ETRN) were up 3.6% during trading on Wednesday . The stock traded as high as $13.47 and last traded at $13.35. Approximately 4,145,705 shares changed hands during trading, a decline of 34% from the average daily volume of 6,313,222 shares. The stock had previously closed at $12.89.

Analyst Ratings Changes

A number of equities research analysts have commented on ETRN shares. Barclays lifted their target price on shares of Equitrans Midstream from $6.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. TheStreet raised shares of Equitrans Midstream from a “d+” rating to a “c-” rating in a research note on Wednesday, December 27th. Morgan Stanley cut their price target on Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, February 22nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 price objective on shares of Equitrans Midstream in a research report on Thursday, March 7th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Equitrans Midstream has an average rating of “Hold” and an average price target of $10.86.

Equitrans Midstream Stock Up 4.2 %

The company has a market capitalization of $5.86 billion, a price-to-earnings ratio of 14.48, a P/E/G ratio of 1.71 and a beta of 1.97. The firm’s fifty day moving average price is $11.57 and its 200-day moving average price is $10.40. The company has a debt-to-equity ratio of 4.83, a current ratio of 0.76 and a quick ratio of 0.76.

Equitrans Midstream (NYSE:ETRN) last posted its earnings results on Tuesday, February 20th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.16. The firm had revenue of $360.60 million during the quarter, compared to the consensus estimate of $348.04 million. Equitrans Midstream had a net margin of 30.89% and a return on equity of 30.41%. The company’s revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the company earned $0.13 earnings per share. Sell-side analysts expect that Equitrans Midstream Co. will post 0.87 earnings per share for the current fiscal year.

Equitrans Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, May 7th will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, May 6th. This represents a $0.60 annualized dividend and a yield of 4.47%. Equitrans Midstream’s dividend payout ratio is 67.42%.

Institutional Trading of Equitrans Midstream

Several institutional investors have recently made changes to their positions in ETRN. Rise Advisors LLC bought a new stake in shares of Equitrans Midstream during the first quarter worth $25,000. Harvest Fund Management Co. Ltd purchased a new position in Equitrans Midstream in the fourth quarter worth $39,000. AlphaMark Advisors LLC grew its stake in Equitrans Midstream by 66.2% during the 3rd quarter. AlphaMark Advisors LLC now owns 5,650 shares of the company’s stock worth $53,000 after buying an additional 2,250 shares during the last quarter. Mather Group LLC. acquired a new position in shares of Equitrans Midstream during the first quarter valued at about $54,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Equitrans Midstream during the third quarter worth $55,000. Hedge funds and other institutional investors own 87.35% of the company’s stock.

About Equitrans Midstream

Equitrans Midstream Corporation owns, operates, acquires, and develops midstream assets in the Appalachian Basin. The company operates through Gathering, Transmission, and Water segments. It operates dry gas gathering systems of high-pressure gathering lines and FERC-regulated interstate pipelines and storage systems.