Healthcare of Ontario Pension Plan Trust Fund Purchases Shares of 550,000 Equitrans Midstream Co. (NYSE:ETRN)

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Equitrans Midstream Co. (NYSE:ETRN) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 550,000 shares of the company’s stock, valued at approximately $6,870,000. Healthcare of Ontario Pension Plan Trust Fund owned about 0.13% of Equitrans Midstream as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of ETRN. Trexquant Investment LP acquired a new position in Equitrans Midstream in the 4th quarter worth approximately $573,000. Dimensional Fund Advisors LP increased its holdings in Equitrans Midstream by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,740,820 shares of the company’s stock worth $88,982,000 after buying an additional 260,924 shares during the period. Hotchkis & Wiley Capital Management LLC increased its holdings in Equitrans Midstream by 28.5% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 7,931,370 shares of the company’s stock worth $80,741,000 after buying an additional 1,758,270 shares during the period. Levin Capital Strategies L.P. acquired a new stake in shares of Equitrans Midstream during the 4th quarter worth approximately $204,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Equitrans Midstream during the 1st quarter worth approximately $6,797,000. 87.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ETRN has been the topic of a number of analyst reports. US Capital Advisors cut shares of Equitrans Midstream from an “overweight” rating to a “hold” rating in a research note on Monday, April 29th. Morgan Stanley lifted their price target on shares of Equitrans Midstream from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Finally, 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Equitrans Midstream has a consensus rating of “Hold” and an average price target of $13.10.

Equitrans Midstream Price Performance

ETRN stock remained flat at $12.42 during midday trading on Thursday. The stock’s fifty day moving average price is $13.42 and its 200-day moving average price is $12.22. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 4.88. The company has a market cap of $5.43 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 11.19 and a beta of 2.01. Equitrans Midstream Co. has a fifty-two week low of $8.57 and a fifty-two week high of $14.64.

Equitrans Midstream (NYSE:ETRN) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. Equitrans Midstream had a return on equity of 30.21% and a net margin of 31.69%. The company had revenue of $364.27 million for the quarter, compared to analyst estimates of $345.79 million. During the same quarter last year, the firm posted $0.22 EPS. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. Equities analysts expect 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.