Equitrans Midstream Co. (NYSE:ETRN) Shares Sold by Capital International Investors

Capital International Investors lowered its position in shares of Equitrans Midstream Co. (NYSE:ETRN) by 9.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,907,202 shares of the company’s stock after selling 3,600,442 shares during the quarter. Capital International Investors owned 8.05% of Equitrans Midstream worth $435,991,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Rise Advisors LLC acquired a new position in shares of Equitrans Midstream in the 1st quarter valued at $25,000. Harvest Fund Management Co. Ltd acquired a new stake in Equitrans Midstream during the 4th quarter worth about $39,000. Mather Group LLC. acquired a new stake in Equitrans Midstream during the 1st quarter worth about $54,000. Hexagon Capital Partners LLC boosted its position in Equitrans Midstream by 185.8% during the 4th quarter. Hexagon Capital Partners LLC now owns 5,716 shares of the company’s stock worth $58,000 after acquiring an additional 3,716 shares during the period. Finally, Quest Partners LLC acquired a new stake in Equitrans Midstream during the 4th quarter worth about $101,000. Institutional investors own 87.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ETRN shares. US Capital Advisors lowered Equitrans Midstream from an “overweight” rating to a “hold” rating in a research report on Monday, April 29th. Morgan Stanley lifted their price target on Equitrans Midstream from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Monday, June 10th. Finally, Wells Fargo & Company lifted their price target on Equitrans Midstream from $12.00 to $13.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Equitrans Midstream presently has a consensus rating of “Hold” and a consensus price target of $13.10.

Equitrans Midstream Stock Performance

Shares of ETRN stock remained flat at $12.42 during trading hours on Friday. The company has a debt-to-equity ratio of 4.88, a current ratio of 0.63 and a quick ratio of 0.63. Equitrans Midstream Co. has a fifty-two week low of $8.57 and a fifty-two week high of $14.64. The stock has a market cap of $5.43 billion, a PE ratio of 13.80, a P/E/G ratio of 11.19 and a beta of 2.01. The firm’s 50-day moving average is $13.37 and its two-hundred day moving average is $12.24.

Equitrans Midstream (NYSE:ETRN) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The firm had revenue of $364.27 million during the quarter, compared to the consensus estimate of $345.79 million. Equitrans Midstream had a return on equity of 30.21% and a net margin of 31.69%. The business’s revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company earned $0.22 earnings per share. Research analysts anticipate that Equitrans Midstream Co. will post 0.75 EPS for the current year.

About Equitrans Midstream

Equitrans Midstream Corporation owns, operates, acquires, and develops midstream assets in the Appalachian Basin. The company operates through Gathering, Transmission, and Water segments. It operates dry gas gathering systems of high-pressure gathering lines and FERC-regulated interstate pipelines and storage systems.