Ladenburg Thalmann Financial Services Inc. decreased its holdings in shares of Equitrans Midstream (NASDAQ:ETRN) by 11.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,981 shares of the company’s stock after selling 1,671 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in Equitrans Midstream were worth $255,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Yaupon Capital Management LP raised its position in Equitrans Midstream by 321.2% during the 2nd quarter. Yaupon Capital Management LP now owns 595,841 shares of the company’s stock valued at $11,744,000 after purchasing an additional 454,391 shares during the last quarter. Zacks Investment Management bought a new position in Equitrans Midstream during the 2nd quarter valued at approximately $392,000. Nuveen Asset Management LLC raised its position in Equitrans Midstream by 258.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 742,847 shares of the company’s stock valued at $14,641,000 after purchasing an additional 535,602 shares during the last quarter. UBS Asset Management Americas Inc. grew its holdings in shares of Equitrans Midstream by 12.3% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 297,150 shares of the company’s stock worth $5,857,000 after acquiring an additional 32,658 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Equitrans Midstream during the 2nd quarter worth approximately $191,000.
ETRN stock opened at $14.99 on Friday. Equitrans Midstream has a fifty-two week low of $12.31 and a fifty-two week high of $23.47. The business’s 50 day moving average price is $13.83 and its two-hundred day moving average price is $17.76.
A number of research analysts have weighed in on the company. UBS Group upgraded Equitrans Midstream from a “neutral” rating to a “buy” rating in a report on Wednesday, September 25th. Zacks Investment Research upgraded Equitrans Midstream from a “hold” rating to a “strong-buy” rating and set a $17.00 target price on the stock in a report on Thursday. Barclays reiterated a “hold” rating and set a $19.00 target price on shares of Equitrans Midstream in a report on Wednesday. Finally, Royal Bank of Canada set a $19.00 target price on Equitrans Midstream and gave the stock a “hold” rating in a report on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $21.11.
In related news, Chairman Thomas F. Karam purchased 100,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were bought at an average price of $16.11 per share, for a total transaction of $1,611,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kirk R. Oliver purchased 13,700 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average price of $16.10 per share, for a total transaction of $220,570.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 121,450 shares of company stock worth $1,956,423 in the last quarter.
Equitrans Midstream 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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