Retirement Systems of Alabama Acquires 1,661 Shares of Equitrans Midstream Co. (NYSE:ETRN)

Retirement Systems of Alabama raised its holdings in Equitrans Midstream Co. (NYSE:ETRN) by 0.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 542,637 shares of the company’s stock after acquiring an additional 1,661 shares during the quarter. Retirement Systems of Alabama owned approximately 0.13% of Equitrans Midstream worth $5,524,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of ETRN. Harvest Fund Management Co. Ltd purchased a new stake in shares of Equitrans Midstream in the 4th quarter worth $39,000. AlphaMark Advisors LLC lifted its holdings in shares of Equitrans Midstream by 66.2% in the 3rd quarter. AlphaMark Advisors LLC now owns 5,650 shares of the company’s stock worth $53,000 after buying an additional 2,250 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of Equitrans Midstream in the 3rd quarter worth $55,000. Operose Advisors LLC purchased a new stake in shares of Equitrans Midstream in the 3rd quarter worth $56,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Equitrans Midstream in the 3rd quarter worth $93,000. Institutional investors own 87.35% of the company’s stock.

Equitrans Midstream Price Performance

Shares of NYSE ETRN opened at $13.66 on Monday. The company has a debt-to-equity ratio of 4.88, a quick ratio of 0.76 and a current ratio of 0.63. The company has a market cap of $5.92 billion, a PE ratio of 15.18, a P/E/G ratio of 1.85 and a beta of 1.93. The business has a 50-day simple moving average of $12.06 and a two-hundred day simple moving average of $10.63. Equitrans Midstream Co. has a fifty-two week low of $4.65 and a fifty-two week high of $14.21.

Equitrans Midstream (NYSE:ETRN) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.03. The business had revenue of $364.27 million during the quarter, compared to the consensus estimate of $345.79 million. Equitrans Midstream had a return on equity of 30.21% and a net margin of 31.69%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the company earned $0.22 earnings per share. As a group, equities analysts expect that Equitrans Midstream Co. will post 0.86 EPS for the current fiscal year.

Equitrans Midstream Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date of this dividend is Monday, May 6th. Equitrans Midstream’s dividend payout ratio (DPR) is 66.67%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ETRN. Wells Fargo & Company upped their target price on Equitrans Midstream from $12.00 to $13.00 and gave the stock an “equal weight” rating in a report on Thursday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price objective on shares of Equitrans Midstream in a research report on Thursday, March 7th. Barclays raised their price objective on Equitrans Midstream from $6.00 to $11.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Morgan Stanley dropped their price objective on Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, February 22nd. Finally, US Capital Advisors downgraded Equitrans Midstream from an “overweight” rating to a “hold” rating in a research report on Monday, April 29th. One equities 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $11.19.

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.