Tidewater Midstream and Infrastructure (TSE:TWM) Trading Up 3.4% – Still a Buy?

Tidewater Midstream and Infrastructure Ltd. (TSE:TWM) shares rose 3.4% during mid-day trading on Tuesday . The stock traded as high as C$0.31 and last traded at C$0.30. Approximately 1,166,259 shares changed hands during trading, an increase of 64% from the average daily volume of 709,329 shares. The stock had previously closed at C$0.29.

Wall Street Analysts Forecast Growth

TWM has been the subject of a number of recent research reports. CIBC cut their target price on Tidewater Midstream and Infrastructure from C$0.90 to C$0.50 in a research note on Friday, August 16th. ATB Capital dropped their target price on Tidewater Midstream and Infrastructure from C$1.10 to C$0.80 in a report on Friday, August 16th. National Bank Financial cut Tidewater Midstream and Infrastructure from a “hold” rating to a “strong sell” rating in a research report on Sunday, August 18th. Scotiabank downgraded shares of Tidewater Midstream and Infrastructure from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from C$0.85 to C$0.45 in a research note on Friday, August 16th. Finally, Acumen Capital dropped their target price on shares of Tidewater Midstream and Infrastructure from C$1.10 to C$0.55 in a research report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$0.69.

Tidewater Midstream and Infrastructure Stock Performance

The stock’s 50 day simple moving average is C$0.30 and its two-hundred day simple moving average is C$0.50. The company has a market capitalization of C$124.73 million, a P/E ratio of -0.33, a P/E/G ratio of 0.64 and a beta of 1.67. The company has a debt-to-equity ratio of 158.54, a current ratio of 0.63 and a quick ratio of 0.55.

Tidewater Midstream and Infrastructure (TSE:TWM) last posted its quarterly earnings data on Thursday, August 15th. The company reported C($0.01) earnings per share for the quarter. The company had revenue of C$461.30 million during the quarter. Tidewater Midstream and Infrastructure had a negative return on equity of 71.39% and a negative net margin of 18.67%. As a group, research analysts expect that Tidewater Midstream and Infrastructure Ltd. will post 0.0199855 earnings per share for the current year.

Tidewater Midstream and Infrastructure Company Profile

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.