Analysts Offer Predictions for Equitrans Midstream’s Q3 2019 Earnings (NASDAQ:ETRN)

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Equitrans Midstream (NASDAQ:ETRN) – Equities researchers at Jefferies Financial Group lifted their Q3 2019 earnings per share estimates for shares of Equitrans Midstream in a research note issued to investors on Tuesday, October 15th. Jefferies Financial Group analyst C. Sighinolfi now anticipates that the company will post earnings per share of $0.35 for the quarter, up from their previous estimate of $0.26. Jefferies Financial Group also issued estimates for Equitrans Midstream’s Q4 2019 earnings at $0.37 EPS, FY2019 earnings at $1.61 EPS, Q1 2020 earnings at $0.39 EPS, Q2 2020 earnings at $0.37 EPS, Q3 2020 earnings at $0.38 EPS, Q4 2020 earnings at $0.39 EPS, FY2020 earnings at $1.53 EPS and FY2021 earnings at $1.74 EPS.

Equitrans Midstream (NASDAQ:ETRN) last announced its earnings results on Tuesday, July 30th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.18. The firm had revenue of $406.17 million for the quarter, compared to analyst estimates of $413.30 million.

ETRN has been the topic of several other reports. Barclays reissued a “hold” rating and set a $19.00 target price on shares of Equitrans Midstream in a research note on Wednesday. Zacks Investment Research raised shares of Equitrans Midstream from a “hold” rating to a “strong-buy” rating and set a $17.00 target price on the stock in a research note on Thursday. UBS Group raised shares of Equitrans Midstream from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 25th. Finally, Royal Bank of Canada set a $19.00 target price on shares of Equitrans Midstream and gave the company a “hold” rating in a research note on Wednesday, July 31st. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $21.11.

Shares of NASDAQ:ETRN opened at $14.95 on Friday. The company’s fifty day moving average is $13.80 and its two-hundred day moving average is $17.79. Equitrans Midstream has a 12-month low of $12.31 and a 12-month high of $23.47.

In related news, Director Margaret K. Dorman purchased 7,750 shares of the stock in a transaction dated Thursday, August 1st. The shares were acquired at an average cost of $16.11 per share, for a total transaction of $124,852.50. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kirk R. Oliver purchased 13,700 shares of the stock in a transaction dated Monday, August 5th. The shares were bought at an average price of $16.10 per share, for a total transaction of $220,570.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 121,450 shares of company stock worth $1,956,423.

Several institutional investors have recently bought and sold shares of the company. Keeley Teton Advisors LLC grew its holdings in shares of Equitrans Midstream by 1.8% during the 2nd quarter. Keeley Teton Advisors LLC now owns 45,603 shares of the company’s stock valued at $899,000 after acquiring an additional 815 shares in the last quarter. Bank of Montreal Can boosted its holdings in Equitrans Midstream by 11.4% in the second quarter. Bank of Montreal Can now owns 9,156 shares of the company’s stock worth $181,000 after purchasing an additional 935 shares in the last quarter. Capital International Sarl boosted its holdings in Equitrans Midstream by 2.7% in the second quarter. Capital International Sarl now owns 35,850 shares of the company’s stock worth $707,000 after purchasing an additional 950 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Equitrans Midstream by 1.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 82,618 shares of the company’s stock worth $1,628,000 after purchasing an additional 1,163 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new stake in Equitrans Midstream in the second quarter worth $25,000.

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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Earnings History and Estimates for Equitrans Midstream (NASDAQ:ETRN)

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