First Citizens Bank & Trust Co. Acquires Shares of 13,177 Equitrans Midstream Co. (NYSE:ETRN)

First Citizens Bank & Trust Co. acquired a new stake in shares of Equitrans Midstream Co. (NYSE:ETRN) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,177 shares of the company’s stock, valued at approximately $171,000.

Several other institutional investors have also added to or reduced their stakes in ETRN. Norges Bank purchased a new stake in Equitrans Midstream during the fourth quarter valued at about $50,093,000. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Equitrans Midstream by 28.5% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 7,931,370 shares of the company’s stock worth $80,741,000 after acquiring an additional 1,758,270 shares in the last quarter. Natixis purchased a new position in shares of Equitrans Midstream during the first quarter worth approximately $16,374,000. Gabelli Funds LLC purchased a new position in shares of Equitrans Midstream during the first quarter worth approximately $15,308,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Equitrans Midstream by 28.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 5,251,814 shares of the company’s stock worth $53,463,000 after acquiring an additional 1,151,348 shares in the last quarter. 87.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on ETRN shares. US Capital Advisors cut Equitrans Midstream from an “overweight” rating to a “hold” rating in a research note on Monday, April 29th. Morgan Stanley upped their target price on Equitrans Midstream from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Monday, June 10th. Finally, Wells Fargo & Company upped their price objective on shares of Equitrans Midstream from $12.00 to $13.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $13.10.

Equitrans Midstream Stock Performance

Equitrans Midstream stock remained flat at $12.42 during trading hours on Tuesday. The stock has a fifty day moving average price of $12.83 and a 200-day moving average price of $12.47. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 11.19 and a beta of 2.01. Equitrans Midstream Co. has a 1 year low of $8.57 and a 1 year high of $14.64. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 4.88.

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.