Equitrans Midstream (NYSE:ETRN) Downgraded to Hold at US Capital Advisors

Equitrans Midstream (NYSE:ETRN) was downgraded by equities researchers at US Capital Advisors from an “overweight” rating to a “hold” rating in a research note issued to investors on Monday, Zacks.com reports.

Several other research analysts have also recently issued reports on ETRN. Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price objective on shares of Equitrans Midstream in a research report on Thursday, March 7th. Barclays upped their price target on Equitrans Midstream from $6.00 to $11.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Finally, Morgan Stanley cut their price objective on shares of Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $10.86.

Equitrans Midstream Stock Down 2.4 %

Shares of ETRN opened at $13.54 on Monday. Equitrans Midstream has a 1 year low of $4.65 and a 1 year high of $14.21. The company’s 50-day simple moving average is $11.89 and its 200-day simple moving average is $10.55. The stock has a market capitalization of $5.91 billion, a PE ratio of 15.21, a P/E/G ratio of 1.85 and a beta of 1.97. The company has a debt-to-equity ratio of 4.83, a quick ratio of 0.76 and a current ratio of 0.76.

Equitrans Midstream (NYSE:ETRN) last released its quarterly earnings data on Tuesday, February 20th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.16. The business had revenue of $360.60 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.13 EPS. Analysts forecast that Equitrans Midstream will post 0.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Equitrans Midstream

Several institutional investors have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. boosted its holdings in Equitrans Midstream by 5.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 33,316 shares of the company’s stock valued at $312,000 after purchasing an additional 1,635 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Equitrans Midstream by 23.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 91,988 shares of the company’s stock valued at $862,000 after buying an additional 17,287 shares during the period. Strs Ohio boosted its stake in shares of Equitrans Midstream by 38.9% in the third quarter. Strs Ohio now owns 52,800 shares of the company’s stock valued at $494,000 after buying an additional 14,800 shares in the last quarter. Chicago Partners Investment Group LLC grew its holdings in Equitrans Midstream by 0.9% during the third quarter. Chicago Partners Investment Group LLC now owns 189,541 shares of the company’s stock worth $1,689,000 after acquiring an additional 1,681 shares during the period. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in Equitrans Midstream by 5.0% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,129,822 shares of the company’s stock valued at $38,696,000 after acquiring an additional 197,463 shares during the period. 87.35% of the stock is owned by institutional investors and hedge funds.

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.