Tidewater Midstream and Infrastructure (TSE:TWM) Shares Climb 21% – Should You Buy?

Tidewater Midstream and Infrastructure Ltd. (TSE:TWM)’s stock price rose 21% during trading on Thursday. The stock traded as high as C$26.61 and last traded at C$26.61. Approximately 242,171 shares traded hands during trading, an increase of 230% from the average daily volume of 73,372 shares. The stock had previously closed at C$21.99.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Scotiabank boosted their price target on Tidewater Midstream and Infrastructure from C$17.00 to C$21.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 21st. Scotia lifted their price objective on shares of Tidewater Midstream and Infrastructure from C$21.00 to C$26.00 and gave the company a “sector perform” rating in a research note on Friday, August 14th. National Bank Financial lifted their price objective on shares of Tidewater Midstream and Infrastructure from C$25.00 to C$27.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. ATB Cormark Capital Markets boosted their target price on shares of Tidewater Midstream and Infrastructure from C$26.00 to C$28.00 and gave the stock an “outperform” rating in a research report on Friday, October 23rd. Finally, Royal Bank Of Canada upgraded shares of Tidewater Midstream and Infrastructure from a “hold” rating to a “moderate buy” rating in a research note on Sunday, August 16th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$24.00.

Tidewater Midstream and Infrastructure Stock Performance

The firm has a market capitalization of C$584.16 million, a PE ratio of -7.57, a price-to-earnings-growth ratio of 0.64 and a beta of -0.33. The company has a debt-to-equity ratio of 309.29, a current ratio of 0.93 and a quick ratio of 0.55. The stock has a 50-day moving average price of C$23.36 and a 200-day moving average price of C$16.36.

Tidewater Midstream and Infrastructure (TSE:TWM) last released its quarterly earnings results on Thursday, November 12th. The company reported C($1.19) EPS for the quarter. The business had revenue of C$628.20 million during the quarter. Tidewater Midstream and Infrastructure had a negative return on equity of 42.19% and a negative net margin of 4.75%. On average, research analysts expect that Tidewater Midstream and Infrastructure Ltd. will post 0.02 EPS for the current fiscal year.

About Tidewater Midstream and Infrastructure

Tidewater Midstream and Infrastructure Ltd. is traded on the TSX under the symbol ‘TWM’. Midstream’s business objective is to build a diversified midstream and infrastructure company across the North American gas processing, natural gas liquids (‘NGL’), petroleum refining, and renewables markets. Midstream’s strategy is to profitably grow and create shareholder value by acquiring and building high quality, strategically located infrastructure. To achieve its business objective, Midstream is focused on providing customers with a full service, vertically integrated value chain through the acquisition and development of energy infrastructure, including downstream facilities, natural gas processing facilities, NGL infrastructure, pipelines, storage, and various renewable initiatives.