Quadrant Capital Group LLC boosted its holdings in Equitrans Midstream Co. (NYSE:ETRN – Free Report) by 194.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,151 shares of the company’s stock after purchasing an additional 11,318 shares during the quarter. Quadrant Capital Group LLC’s holdings in Equitrans Midstream were worth $164,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. New Mexico Educational Retirement Board lifted its holdings in shares of Equitrans Midstream by 12.8% in the 2nd quarter. New Mexico Educational Retirement Board now owns 88,400 shares of the company’s stock worth $845,000 after purchasing an additional 10,000 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Equitrans Midstream by 217.7% during the first quarter. Tower Research Capital LLC TRC now owns 71,028 shares of the company’s stock worth $411,000 after acquiring an additional 48,670 shares during the last quarter. Strs Ohio grew its position in shares of Equitrans Midstream by 1,087.5% during the second quarter. Strs Ohio now owns 38,000 shares of the company’s stock worth $363,000 after acquiring an additional 34,800 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new stake in Equitrans Midstream in the 2nd quarter valued at about $126,000. Finally, Simplicity Solutions LLC bought a new stake in Equitrans Midstream in the 2nd quarter valued at about $129,000. Institutional investors own 86.68% of the company’s stock.
Wall Street Analysts Forecast Growth
ETRN has been the topic of several analyst reports. Morgan Stanley dropped their price target on shares of Equitrans Midstream from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 31st. Pickering Energy Partners began coverage on Equitrans Midstream in a research report on Tuesday, October 3rd. They set an “underperform” rating for the company. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 price target on shares of Equitrans Midstream in a report on Tuesday, August 8th. The Goldman Sachs Group assumed coverage on shares of Equitrans Midstream in a research note on Thursday, October 5th. They set a “buy” rating and a $11.50 price objective on the stock. Finally, TheStreet lowered shares of Equitrans Midstream from a “c-” rating to a “d+” rating in a research report on Friday, September 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $10.19.
Equitrans Midstream Trading Down 0.5 %
Equitrans Midstream stock opened at $9.08 on Tuesday. The company has a debt-to-equity ratio of 4.67, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 0.75 and a beta of 1.90. The firm’s 50 day moving average price is $9.21 and its two-hundred day moving average price is $8.91. Equitrans Midstream Co. has a 1 year low of $4.60 and a 1 year high of $10.48.
Equitrans Midstream Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Friday, November 3rd were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $0.60 dividend on an annualized basis and a yield of 6.61%. Equitrans Midstream’s dividend payout ratio is currently 82.19%.
Equitrans Midstream Profile
Equitrans Midstream Corporation owns, operates, acquires, and develops midstream assets in the Appalachian Basin. It operates through three segments: Gathering, Transmission, and Water. The company operates dry gas gathering systems of high-pressure gathering lines; FERC-regulated interstate pipelines and storage systems; and water pipelines and other facilities that deliver fresh water from local municipal water authorities, the Monongahela River, the Ohio River, local reservoirs, and several regional waterways.
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