Huntington National Bank Trims Position in Equitrans Midstream (ETRN)

Huntington National Bank reduced its position in Equitrans Midstream (NASDAQ:ETRN) by 42.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,047 shares of the company’s stock after selling 3,680 shares during the quarter. Huntington National Bank’s holdings in Equitrans Midstream were worth $110,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Canton Hathaway LLC bought a new position in Equitrans Midstream in the fourth quarter worth $26,000. JFS Wealth Advisors LLC bought a new position in Equitrans Midstream in the fourth quarter worth $30,000. Caption Management LLC bought a new position in shares of Equitrans Midstream during the fourth quarter valued at $40,000. Van ECK Associates Corp bought a new position in shares of Equitrans Midstream during the fourth quarter valued at $42,000. Finally, Whittier Trust Co. bought a new position in shares of Equitrans Midstream during the fourth quarter valued at $44,000.

Shares of NASDAQ ETRN opened at $21.49 on Wednesday. Equitrans Midstream has a 52-week low of $17.63 and a 52-week high of $23.47.

Equitrans Midstream (NASDAQ:ETRN) last issued its quarterly earnings data on Thursday, February 14th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.28. The company had revenue of $384.79 million for the quarter, compared to the consensus estimate of $380.20 million.

In other Equitrans Midstream news, insider Thomas F. Karam purchased 250,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was acquired at an average cost of $20.47 per share, with a total value of $5,117,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Margaret K. Dorman purchased 5,250 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was acquired at an average cost of $20.18 per share, with a total value of $105,945.00. The disclosure for this purchase can be found here. Insiders purchased 271,992 shares of company stock valued at $5,563,886 over the last ninety days.

A number of research analysts have issued reports on the company. Barclays reissued a “hold” rating and set a $21.00 price objective on shares of Equitrans Midstream in a report on Monday, March 11th. Zacks Investment Research cut Equitrans Midstream from a “hold” rating to a “sell” rating in a report on Thursday, February 14th. Finally, US Capital Advisors cut Equitrans Midstream from an “overweight” rating to a “hold” rating in a report on Friday, January 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Equitrans Midstream presently has a consensus rating of “Hold” and an average target price of $23.83.

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Equitrans Midstream Profile

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.

Further Reading: Average Daily Trade Volume – ADTV

Institutional Ownership by Quarter for Equitrans Midstream (NASDAQ:ETRN)

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