Equitrans Midstream (NASDAQ:ETRN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday, Zacks.com reports.
According to Zacks, “Equitrans Midstream Corporation owns, operates, acquires and develops midstream assets primarily in the Appalachian Basin. It manages natural gas transmission, storage and gathering systems, as well as high-and low-pressure gathering lines. Equitrans Midstream Corporation is based in Pittsburgh, United States. “
Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. began coverage on shares of Equitrans Midstream in a report on Tuesday, July 14th. They issued a “neutral” rating and a $11.00 price target on the stock. Wells Fargo & Co raised shares of Equitrans Midstream from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from $6.00 to $11.00 in a report on Monday, April 27th. Finally, BidaskClub lowered shares of Equitrans Midstream from a “buy” rating to a “hold” rating in a report on Tuesday, June 16th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Equitrans Midstream has a consensus rating of “Hold” and a consensus target price of $11.71.
NASDAQ ETRN opened at $9.65 on Friday. The firm’s fifty day simple moving average is $9.05 and its two-hundred day simple moving average is $8.29. Equitrans Midstream has a 12-month low of $3.75 and a 12-month high of $17.18.
Equitrans Midstream (NASDAQ:ETRN) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.38. The firm had revenue of $453.11 million during the quarter, compared to analysts’ expectations of $375.80 million.
In related news, CEO Thomas F. Karam acquired 45,000 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were purchased at an average cost of $8.11 per share, with a total value of $364,950.00.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sunbelt Securities Inc. acquired a new position in Equitrans Midstream during the fourth quarter valued at $5,925,000. Marshall Wace North America L.P. acquired a new position in Equitrans Midstream during the first quarter valued at $72,000. Clearbridge Investments LLC lifted its position in Equitrans Midstream by 85.6% during the first quarter. Clearbridge Investments LLC now owns 5,990 shares of the company’s stock valued at $30,000 after purchasing an additional 2,762 shares during the period. Anderson Fisher LLC acquired a new position in Equitrans Midstream during the first quarter valued at $30,000. Finally, Diversified Trust Co acquired a new position in Equitrans Midstream during the second quarter valued at $90,000.
Equitrans Midstream Company Profile
Equitrans Midstream Corp. is a wholly-owned subsidiary of EQT. It doesn’t have business operations. The company was founded on February 21, 2018 and is headquartered in Canonsburg, PA.
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