Equitrans Midstream (NASDAQ:ETRN) Shares Gap Up to $8.34

Equitrans Midstream (NASDAQ:ETRN) shares gapped up before the market opened on Thursday . The stock had previously closed at $8.15, but opened at $8.34. Equitrans Midstream shares last traded at $8.72, with a volume of 3,360,089 shares traded.

A number of research analysts have commented on the company. Wells Fargo & Co upgraded Equitrans Midstream from an “underweight” rating to an “overweight” rating and boosted their price objective for the stock from $6.00 to $11.00 in a research note on Monday, April 27th. BidaskClub cut Equitrans Midstream from a “buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Finally, Zacks Investment Research upgraded Equitrans Midstream from a “sell” rating to a “hold” rating in a research note on Tuesday, June 16th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Equitrans Midstream presently has an average rating of “Hold” and an average price target of $13.04.

The company has a 50 day moving average of $8.45 and a 200 day moving average of $8.75.

Equitrans Midstream (NASDAQ:ETRN) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.38. The business had revenue of $453.11 million during the quarter, compared to analyst estimates of $375.80 million.

In other Equitrans Midstream news, CEO Thomas F. Karam purchased 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average price of $8.11 per share, for a total transaction of $364,950.00.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Anderson Fisher LLC acquired a new stake in Equitrans Midstream during the first quarter valued at approximately $30,000. Clearbridge Investments LLC raised its stake 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 buying an additional 2,762 shares in the last quarter. Greenleaf Trust acquired a new stake in Equitrans Midstream during the first quarter valued at approximately $55,000. Frontier Investment Mgmt Co. acquired a new stake in Equitrans Midstream during the first quarter valued at approximately $60,000. Finally, CIBC World Markets Inc. acquired a new stake in Equitrans Midstream during the first quarter valued at approximately $61,000.

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.

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