Q1 2020 EPS Estimates for Equitrans Midstream (NASDAQ:ETRN) Raised by Analyst

Equitrans Midstream (NASDAQ:ETRN) – Equities research analysts at Jefferies Financial Group raised their Q1 2020 earnings per share (EPS) estimates for Equitrans Midstream in a research note issued to investors on Tuesday, December 3rd. Jefferies Financial Group analyst C. Sighinolfi now anticipates that the company will post earnings of $0.40 per share for the quarter, up from their prior forecast of $0.39. Jefferies Financial Group also issued estimates for Equitrans Midstream’s FY2022 earnings at $1.61 EPS and FY2023 earnings at $1.60 EPS.

Equitrans Midstream (NASDAQ:ETRN) last issued its earnings results on Tuesday, November 5th. The company reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.52. The firm had revenue of $408.34 million during the quarter, compared to analyst estimates of $409.00 million.

A number of other equities research analysts have also weighed in on the stock. Credit Suisse Group upgraded shares of Equitrans Midstream from a “neutral” rating to an “outperform” rating and reduced their price objective for the company from $17.00 to $13.00 in a report on Monday, November 25th. Zacks Investment Research cut shares of Equitrans Midstream from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. 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. Finally, UBS Group raised Equitrans Midstream from a “neutral” rating to a “buy” rating in a report on Wednesday, September 25th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $16.83.

NASDAQ ETRN opened at $9.24 on Thursday. Equitrans Midstream has a 52 week low of $9.17 and a 52 week high of $22.55. The firm has a 50 day moving average of $12.22 and a two-hundred day moving average of $15.58.

A number of hedge funds have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. purchased a new stake in shares of Equitrans Midstream during the 3rd quarter worth approximately $29,103,000. Kensico Capital Management Corp raised its stake in Equitrans Midstream by 14.1% during the 3rd quarter. Kensico Capital Management Corp now owns 8,079,140 shares of the company’s stock worth $117,551,000 after acquiring an additional 1,000,000 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position 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 valued at $17,873,000 after acquiring an additional 872,759 shares during the last quarter. Voya Investment Management LLC lifted its position in Equitrans Midstream by 297.4% in the third quarter. Voya Investment Management LLC now owns 908,384 shares of the company’s stock valued at $13,216,000 after acquiring an additional 679,783 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Equitrans Midstream by 32.3% in the second 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 in the last quarter.

In other Equitrans Midstream news, Director Margaret K. Dorman purchased 7,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was purchased at an average cost of $12.30 per share, with a total value of $86,100.00.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Wednesday, November 13th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 19.48%. The ex-dividend date was Tuesday, November 12th.

Equitrans Midstream Company 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: How to calculate the intrinsic value of a stock

Earnings History and Estimates for Equitrans Midstream (NASDAQ:ETRN)

Receive News & Ratings for Equitrans Midstream Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equitrans Midstream and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit