Ontario Teachers Pension Plan Board Invests $527,000 in Equitrans Midstream Co. (NYSE:ETRN)

Ontario Teachers Pension Plan Board bought a new position in shares of Equitrans Midstream Co. (NYSE:ETRN) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 42,154 shares of the company’s stock, valued at approximately $527,000.

A number of other large investors also recently modified their holdings of ETRN. Rise Advisors LLC acquired a new position in Equitrans Midstream in the first quarter valued at approximately $25,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Equitrans Midstream during the fourth quarter worth $39,000. Mather Group LLC. bought a new stake in shares of Equitrans Midstream during the first quarter worth $54,000. Hexagon Capital Partners LLC increased its stake in Equitrans Midstream by 185.8% in the 4th quarter. Hexagon Capital Partners LLC now owns 5,716 shares of the company’s stock valued at $58,000 after buying an additional 3,716 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in Equitrans Midstream in the 4th quarter valued at $101,000. 87.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ETRN has been the topic of several recent research reports. Wells Fargo & Company lifted their price target on shares of Equitrans Midstream from $12.00 to $13.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. US Capital Advisors lowered shares of Equitrans Midstream from an “overweight” rating to a “hold” rating in a research note on Monday, April 29th. Finally, Morgan Stanley lifted their target price on shares of Equitrans Midstream from $13.00 to $17.00 and gave the stock an “overweight” rating in a 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 stock. According to MarketBeat, Equitrans Midstream presently has a consensus rating of “Hold” and an average price target of $13.10.

Equitrans Midstream Trading Up 0.6 %

Shares of NYSE:ETRN traded up $0.07 during trading on Monday, reaching $12.42. The stock had a trading volume of 194,273,688 shares, compared to its average volume of 7,468,416. The firm’s fifty day moving average is $13.49 and its 200 day moving average is $12.20. The company has a debt-to-equity ratio of 4.88, a quick ratio of 0.63 and a current ratio of 0.63. Equitrans Midstream Co. has a 52 week low of $8.57 and a 52 week high of $14.64. The stock has a market cap of $5.39 billion, a price-to-earnings ratio of 13.80, a P/E/G ratio of 11.19 and a beta of 2.01.

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

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.