Equitrans Midstream Co. (NYSE:ETRN) Forecasted to Post Q2 2024 Earnings of $0.04 Per Share

Equitrans Midstream Co. (NYSE:ETRN) – US Capital Advisors lowered their Q2 2024 earnings per share estimates for Equitrans Midstream in a research report issued on Tuesday, May 21st. US Capital Advisors analyst J. Carreker now forecasts that the company will post earnings per share of $0.04 for the quarter, down from their prior estimate of $0.09. US Capital Advisors has a “Hold” rating on the stock. The consensus estimate for Equitrans Midstream’s current full-year earnings is $0.85 per share. US Capital Advisors also issued estimates for Equitrans Midstream’s Q3 2024 earnings at $0.23 EPS, FY2024 earnings at $0.74 EPS, Q1 2025 earnings at $0.27 EPS, Q2 2025 earnings at $0.23 EPS, Q3 2025 earnings at $0.24 EPS, Q4 2025 earnings at $0.26 EPS and FY2026 earnings at $1.12 EPS.

Equitrans Midstream (NYSE:ETRN) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. Equitrans Midstream had a net margin of 31.69% and a return on equity of 30.21%. The business had revenue of $364.27 million during the quarter, compared to analyst estimates of $345.79 million. During the same quarter in the previous year, the business posted $0.22 EPS. Equitrans Midstream’s quarterly revenue was down 3.2% on a year-over-year basis.

Several other equities analysts have also recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 price target on shares of Equitrans Midstream in a research report on Thursday, March 7th. Wells Fargo & Company upped their price target on Equitrans Midstream from $12.00 to $13.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Barclays raised their price objective on Equitrans Midstream from $6.00 to $11.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Finally, Morgan Stanley reduced their target price on shares of Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Equitrans Midstream has an average rating of “Hold” and an average target price of $11.19.

Equitrans Midstream Price Performance

Shares of NYSE ETRN opened at $13.84 on Wednesday. The company has a debt-to-equity ratio of 4.88, a current ratio of 0.63 and a quick ratio of 0.63. Equitrans Midstream has a 1 year low of $5.71 and a 1 year high of $14.60. The stock has a market capitalization of $6.00 billion, a P/E ratio of 15.37, a P/E/G ratio of 11.07 and a beta of 1.93. The company has a 50-day moving average price of $12.84 and a 200-day moving average price of $11.07.

Equitrans Midstream Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend was Monday, May 6th. Equitrans Midstream’s dividend payout ratio (DPR) is currently 66.67%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Levin Capital Strategies L.P. bought a new stake in shares of Equitrans Midstream in the fourth quarter valued at $204,000. Envestnet Asset Management Inc. grew its stake in Equitrans Midstream by 125.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 516,372 shares of the company’s stock valued at $4,838,000 after buying an additional 287,176 shares in the last quarter. Valueworks LLC raised its holdings in Equitrans Midstream by 14.7% during the 3rd quarter. Valueworks LLC now owns 765,213 shares of the company’s stock valued at $7,170,000 after acquiring an additional 97,940 shares during the period. Qube Research & Technologies Ltd bought a new position in shares of Equitrans Midstream in the third quarter worth $2,555,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Equitrans Midstream by 0.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,914,514 shares of the company’s stock valued at $39,850,000 after purchasing an additional 13,183 shares during the period. 87.35% of the stock is owned by institutional investors.

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.