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| Analysts Offer Varied Insights on Equitrans Midstream Co., Maintaining 'Hold' Rating |
Equitrans Midstream Co. (NYSE:ETRN) has garnered the attention of analysts, who have weighed in on the stock's performance. According to Bloomberg.com, ten rating firms currently cover ETRN, with varying recommendations. Among them, two analysts advise selling, four suggest holding, and four recommend buying. On average, these experts project a 12-month target price of $9.69.
As of September 22, NYSE ETRN started the day at $9.32, boasting a market capitalization of $4.04 billion. The company reports a P/E ratio of -12.77, along with a P/E/G ratio of 1.19, and a beta of 1.93. Over the past year, ETRN shares have ranged from a low of $4.60 to a peak of $10.48. Additionally, the company's debt-to-equity ratio stands at 4.87, while both current and quick ratios are at 0.90 each.
In terms of moving averages, ETRN's 50-day simple moving average is $9.61, while the 200-day simple moving average is $7.72.
Notably, several institutional investors have adjusted their holdings in the company recently. Cetera Advisors LLC increased its holdings by 1.4% in the second quarter, now owning 91,433 shares valued at approximately $874,000. Maverick Capital Ltd. raised its holdings by 11.8% in the first quarter, now possessing 14,713 shares valued at around $124,000. Pathstone Family Office LLC also boosted its position by 12.7% in the third quarter, currently holding 14,227 shares valued at roughly $106,000. Creative Planning increased its position by 5.1% in the fourth quarter, owning 39,901 shares valued at $267,000. Lastly, Cambridge Investment Research Advisors Inc. raised its holdings by 6.6% in the second quarter, now possessing 31,681 shares worth approximately $303,000. Institutional investors and hedge funds currently own 86.68% of the company's stock.
Equitrans Midstream reported its quarterly earnings data on August 1st. The company's earnings per share (EPS) for the quarter were $0.09, matching analysts' consensus estimates. Revenue for the quarter stood at $318.50 million, exceeding analyst estimates of $311.21 million. While Equitrans Midstream experienced a return on equity of 20.49%, it posted a negative net margin of 18.60%. Additionally, it reported a 3.1% decline in revenue compared to the same quarter last year, with EPS of $0.11 during that period. Analysts predict that Equitrans Midstream will post EPS of $0.46 for this year.
In summary, Equitrans Midstream Co. has received mixed recommendations from analysts, currently labeled as a "Hold" stock based on Bloomberg.com reports and ratings from ten firms. The stock price exhibits fluctuations over a one-year period, with a market capitalization of $4.04 billion and notable financial ratios, including a P/E ratio of -12.77, P/E/G ratio of 1.19, beta of 1.93, debt-to-equity ratio of 4.87, and current and quick ratios of 0.90 each. Institutional investors and hedge funds hold a significant majority of the company's stock. Equitrans Midstream's latest quarterly earnings report met EPS consensus estimates, while reporting slightly higher revenue than analysts expected but noted a revenue decline compared to the same period last year, along with a negative net margin. Market analysts anticipate an EPS of $0.46 for this year.
Equitrans Midstream Receives Positive Analyst Evaluations and High Price Targets, Demonstrating Growth Potential and Attractive Dividend Yield
Equitrans Midstream (NYSE: ETRN) recently garnered positive assessments from various equities research analysts, shedding light on the company's performance and future prospects. On July 18th, Morgan Stanley reaffirmed an "overweight" rating for Equitrans Midstream and set a price target of $14.00 per share, signaling confidence in the company's current valuation.
TheStreet also upgraded Equitrans Midstream, elevating it from a "d+" rating to a "c-" rating in a research note dated June 28th, indicative of improved overall standing according to TheStreet's evaluation metrics. Similarly, Wolfe Research upgraded its rating on Equitrans Midstream from "peer perform" to "outperform" on June 1st, while establishing a price objective of $11.00 per share. These positive evaluations underscore the analysts' belief in Equitrans Midstream's growth potential.
Furthermore, Bank of America increased its price objective for Equitrans Midstream from $5.00 to $9.00 in a research note on June 8th, signaling optimism about the company's future stock price performance. JPMorgan Chase & Co., a prominent financial institution in equities research analysis, also raised its price objective for Equitrans Midstream from $9.50 to $11.00 on June 9th. These collective assessments reflect growing confidence in the company's valuation among industry experts.
In addition, it's noteworthy that Equitrans Midstream recently disclosed its quarterly dividend payment history, along with details about its most recent payout date and dividend yield. A quarterly dividend was disbursed on August 14th to shareholders recorded as such on August 4th, amounting to $0.15 per share. This translates to an annualized dividend of $0.60, resulting in an attractive dividend yield of 6.44%. This robust dividend payout adds to the company's appeal for investors seeking steady income streams.
It's essential to consider that Equitrans Midstream's dividend payout ratio (DPR) currently stands at -82.19%. This unusual negative value arises from unique circumstances and should not be a cause for concern.
In conclusion, Equitrans Midstream has received positive evaluations from multiple equities research analysts, indicating favorable prospects for its stock market performance. With Morgan Stanley's "overweight" rating and a price target of $14.00, along with various upgrades and optimistic price objectives from TheStreet, Wolfe Research, Bank of America, and JPMorgan Chase & Co., Equitrans Midstream appears to be attracting the attention of industry experts who recognize its growth potential. Additionally, the attractive quarterly dividend payment further enhances its appeal for investors seeking consistent income. As always, investors should conduct their comprehensive analysis before making investment decisions.
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