Capital Group Private Client Services Inc. Buys 18,194 Shares of Equitrans Midstream Co. (NYSE:ETRN)

Capital Group Private Client Services Inc. grew its stake in Equitrans Midstream Co. (NYSE:ETRN) by 4.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 386,605 shares of the company’s stock after acquiring an additional 18,194 shares during the period. Capital Group Private Client Services Inc.’s holdings in Equitrans Midstream were worth $4,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Carlson Capital L P acquired a new stake in Equitrans Midstream in the 1st quarter worth about $4,515,000. Freestone Capital Holdings LLC grew its stake in shares of Equitrans Midstream by 50.7% during the first quarter. Freestone Capital Holdings LLC now owns 594,751 shares of the company’s stock worth $7,428,000 after buying an additional 200,000 shares during the last quarter. Natixis acquired a new stake in shares of Equitrans Midstream during the 1st quarter valued at $16,374,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Equitrans Midstream during the first quarter worth about $6,870,000. Finally, Edgestream Partners L.P. increased its position in Equitrans Midstream by 91.5% in the 1st quarter. Edgestream Partners L.P. now owns 326,155 shares of the company’s stock valued at $4,074,000 after acquiring an additional 155,867 shares during the period. Institutional investors and hedge funds own 87.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. US Capital Advisors lowered Equitrans Midstream from an “overweight” rating to a “hold” rating in a research report on Monday, April 29th. Wells Fargo & Company raised 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, May 2nd. Finally, Morgan Stanley raised their price objective on shares of Equitrans Midstream from $13.00 to $17.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $13.10.

Equitrans Midstream Stock Performance

Equitrans Midstream stock remained flat at $12.42 during mid-day trading on Friday. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 11.19 and a beta of 2.01. Equitrans Midstream Co. has a one year low of $8.57 and a one year high of $14.64. The stock has a fifty day simple moving average of $13.37 and a 200-day simple moving average of $12.24. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 4.88.

Equitrans Midstream (NYSE:ETRN) last announced 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 net margin of 31.69% and a return on equity of 30.21%. The business had revenue of $364.27 million during the quarter, compared to analyst estimates of $345.79 million. During the same quarter in the previous year, the business posted $0.22 EPS. Equitrans Midstream’s quarterly revenue was down 3.2% on a year-over-year basis. Equities research analysts forecast that Equitrans Midstream Co. will post 0.75 EPS for the current year.

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.