Equitrans Midstream (NASDAQ:ETRN) Stock Price Up 5.4%

Equitrans Midstream (NASDAQ:ETRN)’s stock price rose 5.4% during trading on Tuesday . The stock traded as high as $10.51 and last traded at $10.45, approximately 6,748,484 shares were traded during mid-day trading. An increase of 183% from the average daily volume of 2,385,357 shares. The stock had previously closed at $9.91.

ETRN has been the subject of several recent analyst reports. Credit Suisse Group raised shares of Equitrans Midstream from a “neutral” rating to an “outperform” rating and lowered their target price for the company from $17.00 to $13.00 in a research note on Monday, November 25th. UBS Group raised shares of Equitrans Midstream from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 25th. Zacks Investment Research downgraded shares of Equitrans Midstream from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Barclays reaffirmed a “hold” rating and issued a $19.00 target price on shares of Equitrans Midstream in a research note on Wednesday, October 16th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $16.83.

The company’s fifty day moving average price is $11.53 and its two-hundred day moving average price is $15.18.

Equitrans Midstream (NASDAQ:ETRN) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.52. The company had revenue of $408.34 million during the quarter, compared to analyst estimates of $409.00 million.

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Wednesday, November 13th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 16.38%. The ex-dividend date was Tuesday, November 12th.

In related news, Director Margaret K. Dorman purchased 7,000 shares of Equitrans Midstream stock in a transaction dated Thursday, November 7th. The stock was bought at an average price of $12.30 per share, for a total transaction of $86,100.00.

Several institutional investors have recently added to or reduced their stakes in ETRN. Steward Partners Investment Advisory LLC acquired a new position in Equitrans Midstream during the second quarter worth $25,000. Marshall Wace North America L.P. acquired a new position in Equitrans Midstream during the first quarter worth $72,000. BNP Paribas Arbitrage SA acquired a new position in Equitrans Midstream during the second quarter worth $104,000. Commerzbank Aktiengesellschaft FI acquired a new position in Equitrans Midstream during the third quarter worth $156,000. Finally, Creative Planning acquired a new position in Equitrans Midstream during the third quarter worth $160,000.

Equitrans Midstream Company Profile (NASDAQ:ETRN)

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.

See Also: If I purchase shares through a brokerage account, am I the holder of record?

Receive News & Ratings for Equitrans Midstream Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equitrans Midstream and related companies with MarketBeat.com's FREE daily email newsletter.