Equitrans Midstream (NYSE:ETRN) Given New $13.00 Price Target at Wells Fargo & Company

Equitrans Midstream (NYSE:ETRN) had its price target boosted by equities research analysts at Wells Fargo & Company from $12.00 to $13.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential downside of 2.26% from the company’s current price.

Several other equities research analysts have also issued reports on ETRN. Morgan Stanley dropped their price objective on Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, February 22nd. Barclays lifted their price target on Equitrans Midstream from $6.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. US Capital Advisors lowered Equitrans Midstream from an “overweight” rating to a “hold” rating in a research note on Monday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 price objective on shares of Equitrans Midstream in a report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Equitrans Midstream has a consensus rating of “Hold” and an average price target of $11.19.

Equitrans Midstream Stock Up 1.5 %

Shares of Equitrans Midstream stock traded up $0.20 on Thursday, hitting $13.30. The company had a trading volume of 575,738 shares, compared to its average volume of 6,280,346. The stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of 14.69, a P/E/G ratio of 1.80 and a beta of 1.93. Equitrans Midstream has a 1 year low of $4.65 and a 1 year high of $14.21. The stock has a 50 day moving average of $11.94 and a 200-day moving average of $10.57. 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 issued 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 return on equity of 30.57% and a net margin of 31.69%. The company had revenue of $364.27 million during the quarter, compared to the consensus estimate of $345.79 million. During the same period last year, the business posted $0.22 earnings per share. Equitrans Midstream’s revenue was down 3.2% on a year-over-year basis. As a group, sell-side analysts forecast that Equitrans Midstream will post 0.87 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ETRN. Metis Global Partners LLC boosted its position in shares of Equitrans Midstream by 8.0% in the 4th quarter. Metis Global Partners LLC now owns 16,868 shares of the company’s stock worth $172,000 after purchasing an additional 1,247 shares in the last quarter. Retirement Systems of Alabama boosted its position in shares of Equitrans Midstream by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 544,067 shares of the company’s stock worth $6,795,000 after purchasing an additional 1,430 shares in the last quarter. Hexagon Capital Partners LLC boosted its position in shares of Equitrans Midstream by 25.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 7,187 shares of the company’s stock worth $90,000 after purchasing an additional 1,471 shares in the last quarter. Donoghue Forlines LLC lifted its position in Equitrans Midstream by 3.9% in the 4th quarter. Donoghue Forlines LLC now owns 43,216 shares of the company’s stock valued at $440,000 after acquiring an additional 1,626 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position 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 acquiring an additional 1,635 shares in the last quarter. 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.