Swiss National Bank Cuts Stake in Equitrans Midstream Co. (NYSE:ETRN)

Swiss National Bank lowered its holdings in shares of Equitrans Midstream Co. (NYSE:ETRN) by 3.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 908,687 shares of the company’s stock after selling 30,100 shares during the quarter. Swiss National Bank owned approximately 0.21% of Equitrans Midstream worth $7,733,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Captrust Financial Advisors grew its holdings in Equitrans Midstream by 34.6% during the 1st quarter. Captrust Financial Advisors now owns 5,924 shares of the company’s stock valued at $48,000 after buying an additional 1,523 shares in the last quarter. Certified Advisory Corp purchased a new position in Equitrans Midstream during the 1st quarter valued at approximately $69,000. Marshall Wace North America L.P. purchased a new position in Equitrans Midstream during the 1st quarter valued at approximately $72,000. Advisors Capital Management LLC purchased a new position in Equitrans Midstream during the 1st quarter valued at approximately $82,000. Finally, Commonwealth Equity Services LLC purchased a new position in Equitrans Midstream during the 1st quarter valued at approximately $85,000. Hedge funds and other institutional investors own 87.75% of the company’s stock.

Shares of Equitrans Midstream stock opened at $9.30 on Wednesday. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of 11.63 and a beta of 2.27. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a 50 day moving average price of $8.60 and a 200-day moving average price of $8.44. Equitrans Midstream Co. has a one year low of $6.23 and a one year high of $9.79.

Equitrans Midstream (NYSE:ETRN) last issued its quarterly earnings results on Tuesday, August 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.02). Equitrans Midstream had a return on equity of 12.76% and a net margin of 28.14%. The business had revenue of $348.30 million for the quarter, compared to the consensus estimate of $340.87 million. During the same period in the prior year, the business posted $0.22 earnings per share. Equitrans Midstream’s revenue was up 2.3% on a year-over-year basis. Sell-side analysts predict that Equitrans Midstream Co. will post 0.76 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 13th. Shareholders of record on Wednesday, August 4th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 6.45%. The ex-dividend date of this dividend was Tuesday, August 3rd. Equitrans Midstream’s dividend payout ratio (DPR) is presently 46.51%.

Several equities analysts have weighed in on ETRN shares. Zacks Investment Research upgraded Equitrans Midstream from a “sell” rating to a “hold” rating in a report on Wednesday, August 18th. Wells Fargo & Company restated an “underweight” rating and set a $9.00 price target on shares of Equitrans Midstream in a report on Wednesday, May 19th. Finally, Barclays lifted their target price on Equitrans Midstream from $7.00 to $9.00 and gave the stock an “underweight” rating in a report on Wednesday, June 2nd. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $9.05.

Equitrans Midstream Company Profile

Equitrans Midstream Corp. has a premier asset footprint in the Appalachian Basin and is one of the largest natural gas gatherers in the United States. It focuses on gas gathering systems, transmission and storage systems, and water services assets that support natural gas producers across the Basin. The company operates in the following segments: Gathering, Transmission and Water.

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Institutional Ownership by Quarter for Equitrans Midstream (NYSE:ETRN)

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