Catalyst Capital Advisors LLC increased its stake in Equitrans Midstream (NASDAQ:ETRN) by 65.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 367,922 shares of the company’s stock after acquiring an additional 145,290 shares during the period. Catalyst Capital Advisors LLC owned about 0.14% of Equitrans Midstream worth $7,252,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Equitrans Midstream by 0.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 9,495,797 shares of the company’s stock worth $187,636,000 after buying an additional 26,408 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its stake in Equitrans Midstream by 19.1% during the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 6,629,234 shares of the company’s stock valued at $144,385,000 after purchasing an additional 1,065,117 shares during the last quarter. Iridian Asset Management LLC CT boosted its stake in Equitrans Midstream by 8.9% during the 2nd quarter. Iridian Asset Management LLC CT now owns 6,279,887 shares of the company’s stock valued at $123,777,000 after purchasing an additional 513,255 shares during the last quarter. Wedge Capital Management L L P NC raised its holdings in Equitrans Midstream by 32.6% in the 1st quarter. Wedge Capital Management L L P NC now owns 4,416,560 shares of the company’s stock worth $96,193,000 after purchasing an additional 1,086,489 shares during the period. Finally, Neuberger Berman Group LLC raised its holdings in Equitrans Midstream by 5.5% in the 1st quarter. Neuberger Berman Group LLC now owns 3,807,327 shares of the company’s stock worth $82,856,000 after purchasing an additional 199,713 shares during the period.
A number of research firms have commented on ETRN. Bank of America began coverage on Equitrans Midstream in a report on Monday, June 17th. They set a “neutral” rating and a $21.00 price target on the stock. Royal Bank of Canada set a $19.00 price objective on Equitrans Midstream and gave the company a “hold” rating in a research report on Wednesday, July 31st. Zacks Investment Research lowered Equitrans Midstream from a “hold” rating to a “sell” rating in a research report on Monday, July 29th. Finally, UBS Group initiated coverage on Equitrans Midstream in a research report on Tuesday, August 6th. They set a “neutral” rating and a $15.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $22.11.
Shares of NASDAQ:ETRN opened at $13.49 on Friday. Equitrans Midstream has a 1 year low of $12.31 and a 1 year high of $23.47. The business has a 50 day simple moving average of $14.46 and a two-hundred day simple moving average of $18.74.
Equitrans Midstream (NASDAQ:ETRN) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.18. The company had revenue of $406.17 million for the quarter, compared to the consensus estimate of $413.30 million.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Tuesday, August 13th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 13.34%. The ex-dividend date of this dividend was Monday, August 12th.
In other Equitrans Midstream news, Chairman Thomas F. Karam purchased 100,000 shares of Equitrans Midstream stock in a transaction dated Thursday, August 1st. The shares were acquired at an average cost of $16.11 per share, with a total value of $1,611,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kirk R. Oliver purchased 13,700 shares of Equitrans Midstream stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $16.10 per share, for a total transaction of $220,570.00. The disclosure for this purchase can be found here. Insiders purchased 121,450 shares of company stock valued at $1,956,423 in the last three months.
About Equitrans Midstream
Equitrans Midstream Corp. is a wholly-owned subsidiary of EQT. It doesn’t have business operations. The company was founded on February 21, 2018 and is headquartered in Canonsburg, PA.
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