NBW Capital LLC Increases Stock Position in Equitrans Midstream Co. (NYSE:ETRN)

NBW Capital LLC boosted its holdings in Equitrans Midstream Co. (NYSE:ETRN) by 4.2% in the 1st quarter, Holdings Channel reports. The firm owned 288,953 shares of the company’s stock after purchasing an additional 11,633 shares during the period. NBW Capital LLC’s holdings in Equitrans Midstream were worth $3,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Rise Advisors LLC acquired a new position in Equitrans Midstream in the first quarter valued at $25,000. Truvestments Capital LLC purchased a new position in shares of Equitrans Midstream during the first quarter worth about $29,000. Harvest Fund Management Co. Ltd acquired a new position in Equitrans Midstream in the 4th quarter valued at about $39,000. Mather Group LLC. purchased a new stake in Equitrans Midstream during the 1st quarter valued at approximately $54,000. Finally, Hexagon Capital Partners LLC lifted its position in Equitrans Midstream by 185.8% during the 4th quarter. Hexagon Capital Partners LLC now owns 5,716 shares of the company’s stock worth $58,000 after acquiring an additional 3,716 shares during the period. Institutional investors and hedge funds own 87.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ETRN. Wells Fargo & Company boosted their target price on Equitrans Midstream from $12.00 to $13.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. US Capital Advisors cut 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 company an “overweight” rating in a report on Monday, June 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $13.10.

Equitrans Midstream Price Performance

ETRN stock remained flat at $12.42 during trading on Friday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 4.88. The company has a 50 day moving average price of $13.21 and a 200 day moving average price of $12.31. Equitrans Midstream Co. has a 52-week low of $8.57 and a 52-week high of $14.64. The company has a market cap of $5.43 billion, a P/E ratio of 13.80, a PEG ratio of 11.19 and a beta of 2.01.

Equitrans Midstream (NYSE:ETRN) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $364.27 million for the quarter, compared to analysts’ expectations of $345.79 million. Equitrans Midstream had a return on equity of 30.21% and a net margin of 31.69%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.22 EPS. As a group, equities research analysts forecast that Equitrans Midstream Co. will post 0.75 EPS for the current 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.