Equitrans Midstream (ETRN) Earns Sector Perform Rating from Analysts at Royal Bank of Canada

Investment analysts at Royal Bank of Canada assumed coverage on shares of Equitrans Midstream (NASDAQ:ETRN) in a research note issued to investors on Thursday, The Fly reports. The firm set a “sector perform” rating on the stock.

ETRN has been the subject of several other reports. Barclays restated a “hold” rating and set a $21.00 target price on shares of Equitrans Midstream in a report on Monday, March 11th. US Capital Advisors downgraded shares of Equitrans Midstream from an “overweight” rating to a “hold” rating in a report on Friday, January 4th. Finally, Zacks Investment Research downgraded shares of Equitrans Midstream from a “hold” rating to a “sell” rating in a report on Thursday, February 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Equitrans Midstream has a consensus rating of “Hold” and a consensus price target of $23.83.

NASDAQ:ETRN opened at $21.77 on Thursday. Equitrans Midstream has a twelve month low of $17.63 and a twelve month high of $23.47.

Equitrans Midstream (NASDAQ:ETRN) last posted its earnings results on Thursday, February 14th. The company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.28. The business had revenue of $384.79 million for the quarter, compared to analysts’ expectations of $380.20 million.

In other news, COO Diana M. Charletta purchased 11,792 shares of the stock in a transaction dated Friday, March 22nd. The stock was acquired at an average cost of $20.37 per share, for a total transaction of $240,203.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kirk R. Oliver purchased 4,950 shares of the stock in a transaction dated Monday, March 25th. The shares were purchased at an average price of $20.25 per share, with a total value of $100,237.50. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 271,992 shares of company stock valued at $5,563,886.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Equitrans Midstream during the fourth quarter worth about $393,060,000. D. E. Shaw & Co. Inc. purchased a new stake in shares of Equitrans Midstream during the fourth quarter worth about $209,974,000. Iridian Asset Management LLC CT purchased a new stake in shares of Equitrans Midstream during the fourth quarter worth about $119,657,000. Tortoise Capital Advisors L.L.C. purchased a new stake in shares of Equitrans Midstream during the fourth quarter worth about $111,394,000. Finally, Energy Income Partners LLC purchased a new stake in shares of Equitrans Midstream during the fourth quarter worth about $102,908,000.

About Equitrans Midstream

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.

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The Fly

Analyst Recommendations for Equitrans Midstream (NASDAQ:ETRN)

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