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

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

Other research analysts have also recently issued research reports about the stock. Morgan Stanley lowered their target price on shares of Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday, February 22nd. Barclays boosted their price target on shares of 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 cut shares of 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 target on shares of Equitrans Midstream in a research note on Thursday, March 7th. One equities 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. According to data from MarketBeat, Equitrans Midstream presently has an average rating of “Hold” and a consensus price target of $11.19.

Equitrans Midstream Stock Up 1.5 %

Shares of NYSE:ETRN traded up $0.20 during trading on Thursday, reaching $13.30. 575,738 shares of the stock traded hands, compared to its average volume of 6,280,346. 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 has a 52-week low of $4.65 and a 52-week high of $14.21. The stock has a market cap of $5.80 billion, a P/E ratio of 14.69, a price-to-earnings-growth ratio of 1.80 and a beta of 1.93. The stock has a 50-day moving average of $11.94 and a two-hundred day moving average of $10.57.

Equitrans Midstream (NYSE:ETRN) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.23 earnings per share (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 30.57%. The firm had revenue of $364.27 million during the quarter, compared to the consensus estimate of $345.79 million. During the same quarter in the previous year, the firm posted $0.22 EPS. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, sell-side analysts expect that Equitrans Midstream will post 0.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Equitrans Midstream by 3.5% in the third quarter. Vanguard Group Inc. now owns 47,037,992 shares of the company’s stock valued at $440,746,000 after purchasing an additional 1,572,136 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Equitrans Midstream by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,740,820 shares of the company’s stock valued at $88,982,000 after purchasing an additional 260,924 shares during the period. Hotchkis & Wiley Capital Management LLC grew its position in shares of Equitrans Midstream by 28.5% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 7,931,370 shares of the company’s stock valued at $80,741,000 after purchasing an additional 1,758,270 shares during the period. Blackstone Inc. grew its position in shares of Equitrans Midstream by 18.8% in the third quarter. Blackstone Inc. now owns 7,573,498 shares of the company’s stock valued at $70,964,000 after purchasing an additional 1,197,991 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of Equitrans Midstream by 28.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,251,814 shares of the company’s stock valued at $53,463,000 after purchasing an additional 1,151,348 shares during the period. Hedge funds and other institutional investors own 87.35% of the company’s stock.

Equitrans Midstream Company Profile

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.