Nisa Investment Advisors LLC reduced its stake in Equitrans Midstream Co. (NYSE:ETRN) by 26.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,891 shares of the company’s stock after selling 14,079 shares during the period. Nisa Investment Advisors LLC’s holdings in Equitrans Midstream were worth $339,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in ETRN. Tortoise Capital Advisors L.L.C. increased its stake in shares of Equitrans Midstream by 1,154.0% during the first quarter. Tortoise Capital Advisors L.L.C. now owns 10,631,831 shares of the company’s stock valued at $86,756,000 after buying an additional 9,783,967 shares during the period. BlackRock Inc. increased its stake in shares of Equitrans Midstream by 16.4% during the first quarter. BlackRock Inc. now owns 41,936,679 shares of the company’s stock valued at $342,204,000 after buying an additional 5,898,457 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Equitrans Midstream by 24.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,650,107 shares of the company’s stock valued at $160,345,000 after buying an additional 3,868,996 shares during the period. AQR Capital Management LLC increased its stake in shares of Equitrans Midstream by 5,030.4% during the first quarter. AQR Capital Management LLC now owns 3,396,225 shares of the company’s stock valued at $27,441,000 after buying an additional 3,330,027 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Equitrans Midstream by 79.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,901,343 shares of the company’s stock valued at $48,155,000 after buying an additional 2,616,897 shares during the period. 87.75% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on ETRN shares. Zacks Investment Research raised Equitrans Midstream from a “sell” rating to a “hold” rating in a research note on Wednesday, August 18th. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $9.00 price target on shares of Equitrans Midstream in a research note on Wednesday, May 19th. Finally, Barclays upped their price target on Equitrans Midstream from $7.00 to $9.00 and gave the stock an “underweight” rating in a research note on Wednesday, June 2nd. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $9.05.
Equitrans Midstream (NYSE:ETRN) last released its earnings results on Tuesday, August 3rd. The company reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.02). Equitrans Midstream had a return on equity of 12.76% and a net margin of 28.14%. The company had revenue of $348.30 million during the quarter, compared to the consensus estimate of $340.87 million. During the same period last year, the firm posted $0.22 earnings per share. The company’s revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts predict that Equitrans Midstream Co. will post 0.76 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 13th. Shareholders of record on Wednesday, August 4th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 6.45%. The ex-dividend date of this dividend was Tuesday, August 3rd. Equitrans Midstream’s dividend payout ratio (DPR) is 46.51%.
Equitrans Midstream Profile
Equitrans Midstream Corp. has a premier asset footprint in the Appalachian Basin and is one of the largest natural gas gatherers in the United States. It focuses on gas gathering systems, transmission and storage systems, and water services assets that support natural gas producers across the Basin. The company operates in the following segments: Gathering, Transmission and Water.
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