Tidewater Midstream and Infrastructure (TSE:TWM) Reaches New 12-Month High – Here’s Why

Tidewater Midstream and Infrastructure Ltd. (TSE:TWM)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$24.58 and last traded at C$24.58, with a volume of 47212 shares traded. The stock had previously closed at C$23.92.

Analysts Set New Price Targets

A number of research analysts have commented on TWM shares. Royal Bank Of Canada upgraded shares of Tidewater Midstream and Infrastructure from a “hold” rating to a “moderate buy” rating in a research note on Sunday, August 16th. ATB Cormark Capital Markets boosted their target price on shares of Tidewater Midstream and Infrastructure from C$24.00 to C$26.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Scotiabank increased their price target on shares of Tidewater Midstream and Infrastructure from C$17.00 to C$21.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 21st. National Bank Financial lifted their price target on Tidewater Midstream and Infrastructure from C$25.00 to C$27.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Finally, Scotia boosted their price objective on Tidewater Midstream and Infrastructure from C$21.00 to C$26.00 and gave the company a “sector perform” rating in a report on Friday, August 14th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$23.60.

Tidewater Midstream and Infrastructure Trading Up 2.8%

The stock has a market cap of C$539.63 million, a price-to-earnings ratio of -6.99, a P/E/G ratio of 0.64 and a beta of 0.05. The business’s fifty day simple moving average is C$20.89 and its 200 day simple moving average is C$16.08. The company has a debt-to-equity ratio of 309.29, a current ratio of 0.93 and a quick ratio of 0.55.

Tidewater Midstream and Infrastructure (TSE:TWM) last issued its earnings results on Thursday, August 13th. The company reported C$0.56 earnings per share for the quarter. Tidewater Midstream and Infrastructure had a negative net margin of 4.75% and a negative return on equity of 42.19%. The company had revenue of C$552.10 million for the quarter. On average, research analysts predict that Tidewater Midstream and Infrastructure Ltd. will post 0.0199855 EPS for the current year.

About Tidewater Midstream and Infrastructure

Tidewater Midstream and Infrastructure Ltd is a Canadian company that is engaged in providing midstream infrastructure and a natural gas storage facility. It mainly focuses on the purchase, sale, and transportation of Natural Gas Liquids (NGLs) such as propane and natural gasoline throughout North America and export to premium markets. The business activities of the company include gathering, processing, and transportation relates to raw gas gathering systems, processing plants and pipelines, NGL marketing and Extraction, refined products, and other activities.