Levin Capital Strategies L.P. Takes $204,000 Position in Equitrans Midstream Co. (NYSE:ETRN)

Levin Capital Strategies L.P. acquired a new position in shares of Equitrans Midstream Co. (NYSE:ETRN) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 20,000 shares of the company’s stock, valued at approximately $204,000.

Several other institutional investors have also recently added to or reduced their stakes in ETRN. Envestnet Asset Management Inc. boosted its stake in shares of Equitrans Midstream by 125.3% in the third quarter. Envestnet Asset Management Inc. now owns 516,372 shares of the company’s stock valued at $4,838,000 after purchasing an additional 287,176 shares during the period. Valueworks LLC increased its position in Equitrans Midstream by 14.7% during the third quarter. Valueworks LLC now owns 765,213 shares of the company’s stock worth $7,170,000 after buying an additional 97,940 shares during the period. Qube Research & Technologies Ltd purchased a new stake in Equitrans Midstream in the third quarter valued at approximately $2,555,000. Advisors Capital Management LLC acquired a new stake in shares of Equitrans Midstream in the third quarter valued at approximately $3,533,000. Finally, Deutsche Bank AG grew its position in shares of Equitrans Midstream by 16.5% during the third quarter. Deutsche Bank AG now owns 234,295 shares of the company’s stock worth $2,195,000 after acquiring an additional 33,134 shares during the last quarter. Institutional investors and hedge funds own 87.35% of the company’s stock.

Equitrans Midstream Price Performance

Shares of NYSE ETRN traded up $0.22 on Friday, hitting $13.67. The company’s stock had a trading volume of 4,279,923 shares, compared to its average volume of 6,290,879. Equitrans Midstream Co. has a 12-month low of $4.65 and a 12-month high of $14.21. The stock has a 50 day moving average of $12.00 and a 200-day moving average of $10.59. The company has a market capitalization of $5.96 billion, a price-to-earnings ratio of 15.13, a price-to-earnings-growth ratio of 1.75 and a beta of 1.93. The company has a debt-to-equity ratio of 4.88, a current ratio of 0.63 and a quick ratio of 0.76.

Equitrans Midstream (NYSE:ETRN) last announced its quarterly earnings data 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 30.21% and a net margin of 31.69%. The business 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 business earned $0.22 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, research analysts predict that Equitrans Midstream Co. will post 0.87 EPS for the current year.

Equitrans Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.60 dividend on an annualized basis and a yield of 4.39%. Equitrans Midstream’s payout ratio is 66.67%.

Wall Street Analysts Forecast Growth

ETRN has been the subject of a number of recent research reports. Morgan Stanley decreased their price target 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. Barclays lifted their price objective on shares of Equitrans Midstream from $6.00 to $11.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 price target on shares of Equitrans Midstream in a report on Thursday, March 7th. US Capital Advisors lowered Equitrans Midstream from an “overweight” rating to a “hold” rating in a report on Monday. Finally, Wells Fargo & Company increased their target price on Equitrans Midstream from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $11.19.

Equitrans Midstream 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.