Gamco Investors INC. ET AL Makes New $3.68 Million Investment in Equitrans Midstream Co. (NYSE:ETRN)

Gamco Investors INC. ET AL bought a new position in Equitrans Midstream Co. (NYSE:ETRN) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 294,537 shares of the company’s stock, valued at approximately $3,679,000. Gamco Investors INC. ET AL owned approximately 0.07% of Equitrans Midstream as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. K2 Principal Fund L.P. bought a new stake in shares of Equitrans Midstream during the 1st quarter worth $1,069,000. Capital Group Private Client Services Inc. boosted its holdings in Equitrans Midstream by 4.9% in the 1st quarter. Capital Group Private Client Services Inc. now owns 386,605 shares of the company’s stock valued at $4,829,000 after purchasing an additional 18,194 shares during the period. Carlson Capital L P bought a new stake in Equitrans Midstream in the 1st quarter valued at $4,515,000. Freestone Capital Holdings LLC boosted its holdings in Equitrans Midstream by 50.7% in the 1st quarter. Freestone Capital Holdings LLC now owns 594,751 shares of the company’s stock valued at $7,428,000 after purchasing an additional 200,000 shares during the period. Finally, Natixis bought a new stake in Equitrans Midstream in the 1st quarter valued at $16,374,000. 87.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ETRN shares. 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 increased their price objective 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 increased their price objective 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 equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.10.

Equitrans Midstream Stock Performance

ETRN stock remained flat at $12.42 during mid-day trading on Friday. The company has a debt-to-equity ratio of 4.88, a quick ratio of 0.63 and a current ratio of 0.63. The company has a market cap of $5.43 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 11.19 and a beta of 2.01. The firm’s fifty day simple moving average is $13.37 and its 200 day simple moving average is $12.24. Equitrans Midstream Co. has a 52 week low of $8.57 and a 52 week high of $14.64.

Equitrans Midstream (NYSE:ETRN) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.23 earnings per share (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 the consensus estimate of $345.79 million. During the same period last year, the company earned $0.22 earnings per share. The firm’s revenue was down 3.2% compared to the same quarter last year. On average, equities analysts forecast that Equitrans Midstream Co. will post 0.75 EPS for the current year.

Equitrans Midstream Company 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.