Pacer Advisors Inc. Makes New $1.60 Million Investment in Equitrans Midstream (NASDAQ:ETRN)

Pacer Advisors Inc. acquired a new position in shares of Equitrans Midstream (NASDAQ:ETRN) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 80,924 shares of the company’s stock, valued at approximately $1,595,000.

A number of other large investors also recently bought and sold shares of ETRN. Geode Capital Management LLC acquired a new position in Equitrans Midstream during the fourth quarter worth $36,356,000. The Manufacturers Life Insurance Company raised its position in shares of Equitrans Midstream by 91.7% in the first quarter. The Manufacturers Life Insurance Company now owns 2,242,491 shares of the company’s stock valued at $48,841,000 after buying an additional 1,072,991 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its position in shares of Equitrans Midstream by 19.1% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 6,629,234 shares of the company’s stock valued at $144,385,000 after buying an additional 1,065,117 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Equitrans Midstream by 2,565.0% in the second quarter. CIBC Private Wealth Group LLC now owns 906,785 shares of the company’s stock valued at $17,873,000 after buying an additional 872,759 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Equitrans Midstream by 32.3% in the second quarter. Bank of New York Mellon Corp now owns 2,783,749 shares of the company’s stock valued at $54,870,000 after buying an additional 679,080 shares during the last quarter.

Shares of ETRN traded down $0.17 during mid-day trading on Thursday, reaching $13.26. The stock had a trading volume of 35,725 shares, compared to its average volume of 2,172,138. Equitrans Midstream has a 52-week low of $12.31 and a 52-week high of $23.47. The business’s fifty day moving average is $14.46 and its 200 day moving average is $18.74.



Equitrans Midstream (NASDAQ:ETRN) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.18. The firm had revenue of $406.17 million during the quarter, compared to analysts’ expectations of $413.30 million.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Tuesday, August 13th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 13.57%. The ex-dividend date was Monday, August 12th.

In other news, Director Margaret K. Dorman acquired 7,750 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average price of $16.11 per share, with a total value of $124,852.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Thomas F. Karam acquired 100,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average cost of $16.11 per share, with a total value of $1,611,000.00. The disclosure for this purchase can be found here. Insiders purchased 121,450 shares of company stock valued at $1,956,423 in the last three months.

A number of equities research analysts have recently commented on ETRN shares. Bank of America started coverage on shares of Equitrans Midstream in a research report on Monday, June 17th. They issued a “neutral” rating and a $21.00 target price for the company. Zacks Investment Research cut shares of Equitrans Midstream from a “hold” rating to a “sell” rating in a research report on Monday, July 29th. Royal Bank of Canada set a $19.00 target price on shares of Equitrans Midstream and gave the company a “hold” rating in a research report on Wednesday, July 31st. Finally, UBS Group started coverage on shares of Equitrans Midstream in a research report on Tuesday, August 6th. They issued a “neutral” rating and a $15.00 target price for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Equitrans Midstream presently has a consensus rating of “Hold” and an average price target of $22.11.

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

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