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.
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.
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