Tidewater Midstream and Infrastructure (TSE:TWM) Reaches New 12-Month Low at $0.61

Tidewater Midstream and Infrastructure Ltd. (TSE:TWM) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as C$0.61 and last traded at C$0.61, with a volume of 53508 shares trading hands. The stock had previously closed at C$0.62.

Wall Street Analysts Forecast Growth

TWM has been the subject of several recent research reports. Scotiabank cut their target price on shares of Tidewater Midstream and Infrastructure from C$1.50 to C$1.10 in a research report on Friday, March 15th. CIBC dropped their price target on shares of Tidewater Midstream and Infrastructure from C$1.10 to C$0.95 in a research note on Friday, May 10th. Stifel Nicolaus dropped their price target on shares of Tidewater Midstream and Infrastructure from C$1.25 to C$0.90 and set a “hold” rating on the stock in a research note on Thursday, April 25th. National Bankshares lowered their target price on shares of Tidewater Midstream and Infrastructure from C$1.10 to C$1.00 in a research note on Friday, March 15th. Finally, Royal Bank of Canada cut shares of Tidewater Midstream and Infrastructure from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from C$1.00 to C$0.80 in a research note on Friday, May 10th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Tidewater Midstream and Infrastructure has an average rating of “Hold” and an average price target of C$0.99.

Tidewater Midstream and Infrastructure Stock Performance

The stock has a 50-day simple moving average of C$0.73 and a 200-day simple moving average of C$0.87. The company has a market capitalization of C$265.98 million, a price-to-earnings ratio of -0.68, a price-to-earnings-growth ratio of 0.64 and a beta of 1.81. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 168.13.

Tidewater Midstream and Infrastructure (TSE:TWM) last released its quarterly earnings results on Thursday, March 14th. The company reported C($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.01) by C($0.03). Tidewater Midstream and Infrastructure had a negative return on equity of 72.30% and a negative net margin of 18.32%. The business had revenue of C$503.00 million during the quarter. On average, analysts anticipate that Tidewater Midstream and Infrastructure Ltd. will post 0.0542169 earnings per share for the current year.

Insider Buying and Selling

In other Tidewater Midstream and Infrastructure news, Senior Officer Jared Ian Arling Strom Gurevitch sold 50,000 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of C$0.77, for a total value of C$38,500.00. In the last ninety days, insiders sold 158,115 shares of company stock valued at $107,764. Corporate insiders own 6.41% of the company’s stock.

About Tidewater Midstream and Infrastructure

Tidewater Midstream and Infrastructure Ltd. operates as a diversified midstream and infrastructure company in the United States. The company primarily focuses on natural gas, natural gas liquids (NGLs), crude oil, refined products, and renewable products and services. It also engages in the sale of refined petroleum products, including gasoline, low sulphur diesel, and ancillary products, as well as renewable fuels and natural gas; and gathering, processing, transporting, extraction, and marketing of crude oil, natural gas, and NGLs.