Russell Investments Group Ltd. trimmed its position in shares of Equitrans Midstream (NASDAQ:ETRN) by 76.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 6,063 shares of the company’s stock after selling 19,480 shares during the period. Russell Investments Group Ltd.’s holdings in Equitrans Midstream were worth $88,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the company. CIBC Private Wealth Group LLC increased its holdings in Equitrans Midstream by 2,565.0% in the second quarter. CIBC Private Wealth Group LLC now owns 906,785 shares of the company’s stock worth $17,873,000 after buying an additional 872,759 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Equitrans Midstream by 32.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,783,749 shares of the company’s stock valued at $54,870,000 after acquiring an additional 679,080 shares during the last quarter. Nuveen Asset Management LLC raised its stake in shares of Equitrans Midstream by 258.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 742,847 shares of the company’s stock valued at $14,641,000 after acquiring an additional 535,602 shares in the last quarter. Iridian Asset Management LLC CT boosted its position in Equitrans Midstream by 8.9% during the second quarter. Iridian Asset Management LLC CT now owns 6,279,887 shares of the company’s stock worth $123,777,000 after purchasing an additional 513,255 shares during the period. Finally, Eagle Global Advisors LLC boosted its position in Equitrans Midstream by 806.3% during the second quarter. Eagle Global Advisors LLC now owns 561,912 shares of the company’s stock worth $11,075,000 after purchasing an additional 499,912 shares during the period.
A number of research analysts recently issued reports on the stock. UBS Group upgraded shares of Equitrans Midstream from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 25th. Credit Suisse Group raised Equitrans Midstream from a “neutral” rating to an “outperform” rating and lowered their price target for the company from $17.00 to $13.00 in a research report on Monday, November 25th. Zacks Investment Research cut Equitrans Midstream from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Barclays reiterated a “hold” rating and set a $19.00 target price on shares of Equitrans Midstream in a research note on Wednesday, October 16th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Equitrans Midstream currently has a consensus rating of “Hold” and a consensus price target of $16.83.
Equitrans Midstream (NASDAQ:ETRN) last released its earnings results on Tuesday, November 5th. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.52. The firm had revenue of $408.34 million for the quarter, compared to the consensus estimate of $409.00 million.
The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Wednesday, November 13th were given a $0.45 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $1.80 annualized dividend and a dividend yield of 19.48%.
In related news, Director Margaret K. Dorman purchased 7,000 shares of Equitrans Midstream stock in a transaction dated Thursday, November 7th. The shares were acquired at an average cost of $12.30 per share, for a total transaction of $86,100.00.
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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