Vident Investment Advisory LLC Purchases 105,961 Shares of Equitrans Midstream Co. (NYSE:ETRN)

Vident Investment Advisory LLC lifted its position in Equitrans Midstream Co. (NYSE:ETRNGet Rating) by 13.3% during the 1st quarter, HoldingsChannel reports. The firm owned 901,961 shares of the company’s stock after acquiring an additional 105,961 shares during the quarter. Vident Investment Advisory LLC’s holdings in Equitrans Midstream were worth $7,613,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ETRN. Confluence Wealth Services Inc. bought a new stake in shares of Equitrans Midstream in the fourth quarter worth about $27,000. Signaturefd LLC increased its stake in Equitrans Midstream by 51.4% during the first quarter. Signaturefd LLC now owns 4,114 shares of the company’s stock worth $35,000 after acquiring an additional 1,397 shares during the last quarter. UMB Bank N A MO bought a new stake in Equitrans Midstream during the fourth quarter worth approximately $37,000. Parallel Advisors LLC increased its stake in Equitrans Midstream by 75.0% during the first quarter. Parallel Advisors LLC now owns 4,717 shares of the company’s stock worth $40,000 after acquiring an additional 2,021 shares during the last quarter. Finally, First Quadrant LLC CA bought a new stake in Equitrans Midstream during the first quarter worth approximately $44,000. 92.41% of the stock is owned by institutional investors.

Equitrans Midstream Stock Performance

ETRN opened at $9.44 on Friday. The stock’s 50 day moving average price is $8.27 and its 200-day moving average price is $7.85. Equitrans Midstream Co. has a one year low of $5.87 and a one year high of $11.52. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 3.36.

Equitrans Midstream (NYSE:ETRNGet Rating) last released its earnings results on Tuesday, August 2nd. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). The business had revenue of $328.61 million for the quarter, compared to the consensus estimate of $338.79 million. Equitrans Midstream had a negative net margin of 104.75% and a positive return on equity of 7.19%. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.13 EPS. On average, sell-side analysts forecast that Equitrans Midstream Co. will post 0.55 earnings per share for the current year.

Equitrans Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Wednesday, August 3rd were issued a $0.15 dividend. The ex-dividend date was Tuesday, August 2nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.36%. Equitrans Midstream’s payout ratio is -18.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ETRN shares. Barclays reduced their price objective on Equitrans Midstream from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 20th. US Capital Advisors reissued a “hold” rating on shares of Equitrans Midstream in a research note on Wednesday, June 1st. Royal Bank of Canada boosted their price objective on Equitrans Midstream from $9.00 to $10.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 3rd. Morgan Stanley reduced their price objective on Equitrans Midstream from $8.00 to $7.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 20th. Finally, Wells Fargo & Company raised Equitrans Midstream from an “equal weight” rating to an “overweight” rating and set a $13.00 target price on the stock in a research note on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $9.29.

Equitrans Midstream Company Profile

(Get Rating)

Equitrans Midstream Corporation owns, operates, acquires, and develops natural gas gathering, transmission and storage, and water services assets in the Appalachian Basin. It operates through three segments: Gathering System, Transmission and Storage System, and Water Service System. The Gathering System segment include 1,130 miles of high-pressure gathering lines with compression of approximately 485,000 horsepower and multiple interconnect points; and approximately 910 miles of Federal Energy Regulatory Commission (FERC) low-pressure gathering lines.

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Institutional Ownership by Quarter for Equitrans Midstream (NYSE:ETRN)

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