Barclays Reaffirms Hold Rating for Equitrans Midstream (NASDAQ:ETRN)

Barclays restated their hold rating on shares of Equitrans Midstream (NASDAQ:ETRN) in a research note released on Wednesday morning, AnalystRatings.com reports. They currently have a $19.00 target price on the stock.

Several other research analysts also recently commented on the company. Royal Bank of Canada set a $19.00 price objective on Equitrans Midstream and gave the stock a hold rating in a report on Wednesday, July 31st. Zacks Investment Research downgraded Equitrans Midstream from a hold rating to a sell rating in a report on Monday, July 29th. Finally, UBS Group upgraded Equitrans Midstream from a neutral rating to a buy rating in a report on Wednesday, September 25th. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $21.11.

Shares of ETRN traded up $0.04 during trading hours on Wednesday, hitting $14.99. The company had a trading volume of 2,389,444 shares, compared to its average volume of 2,239,668. The stock’s 50 day moving average price is $13.83 and its 200 day moving average price is $17.76. Equitrans Midstream has a 52-week low of $12.31 and a 52-week high of $23.47.

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

In other news, Director Margaret K. Dorman acquired 7,750 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were acquired at an average cost of $16.11 per share, with a total value of $124,852.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Thomas F. Karam acquired 100,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were purchased at an average cost of $16.11 per share, for a total transaction of $1,611,000.00. The disclosure for this purchase can be found here. In the last quarter, insiders bought 121,450 shares of company stock worth $1,956,423.

A number of institutional investors have recently bought and sold shares of ETRN. Steward Partners Investment Advisory LLC bought a new stake in Equitrans Midstream during the 2nd quarter valued at approximately $25,000. Marshall Wace North America L.P. bought a new stake in Equitrans Midstream during the 1st quarter valued at approximately $72,000. Machina Capital S.A.S. bought a new stake in Equitrans Midstream during the 2nd quarter valued at approximately $80,000. BNP Paribas Arbitrage SA bought a new stake in Equitrans Midstream during the 2nd quarter valued at approximately $104,000. Finally, Commerzbank Aktiengesellschaft FI bought a new stake in Equitrans Midstream during the 3rd quarter valued at approximately $156,000.

About Equitrans Midstream

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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Analyst Recommendations for Equitrans Midstream (NASDAQ:ETRN)

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