Wedge Capital Management L L P NC Lowers Stock Holdings in Equitrans Midstream Co. (NYSE:ETRN)

Wedge Capital Management L L P NC trimmed its holdings in shares of Equitrans Midstream Co. (NYSE:ETRN) by 18.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 139,043 shares of the company’s stock after selling 31,109 shares during the period. Wedge Capital Management L L P NC’s holdings in Equitrans Midstream were worth $1,415,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Envestnet Asset Management Inc. raised its holdings in Equitrans Midstream by 125.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 516,372 shares of the company’s stock worth $4,838,000 after acquiring an additional 287,176 shares during the last quarter. Valueworks LLC raised its holdings in Equitrans Midstream by 14.7% in the 3rd quarter. Valueworks LLC now owns 765,213 shares of the company’s stock worth $7,170,000 after acquiring an additional 97,940 shares during the last quarter. Qube Research & Technologies Ltd purchased a new position in Equitrans Midstream in the 3rd quarter worth approximately $2,555,000. Advisors Capital Management LLC purchased a new position in Equitrans Midstream in the 3rd quarter worth approximately $3,533,000. Finally, Deutsche Bank AG raised its holdings in Equitrans Midstream by 16.5% in the 3rd quarter. Deutsche Bank AG now owns 234,295 shares of the company’s stock worth $2,195,000 after acquiring an additional 33,134 shares during the last quarter. 87.35% of the stock is currently owned by hedge funds and other institutional investors.

Equitrans Midstream Trading Up 2.1 %

NYSE:ETRN opened at $13.72 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 4.83. Equitrans Midstream Co. has a 12 month low of $4.65 and a 12 month high of $13.75. The company has a market cap of $5.99 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 1.79 and a beta of 1.97. The company has a 50 day simple moving average of $11.70 and a two-hundred day simple moving average of $10.45.

Equitrans Midstream (NYSE:ETRN) last issued its quarterly earnings data on Tuesday, February 20th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.16. Equitrans Midstream had a net margin of 30.89% and a return on equity of 30.41%. The firm had revenue of $360.60 million during the quarter, compared to the consensus estimate of $348.04 million. During the same quarter in the previous year, the firm posted $0.13 EPS. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. Research analysts forecast that Equitrans Midstream Co. will post 0.87 earnings per share for the current year.

Equitrans Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date of this dividend is Monday, May 6th. Equitrans Midstream’s payout ratio is 67.42%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 price objective on shares of Equitrans Midstream in a report on Thursday, March 7th. Morgan Stanley cut their target price on shares of Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, February 22nd. Finally, Barclays lifted their target price on shares of Equitrans Midstream from $6.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.86.

Equitrans Midstream Company Profile

Equitrans Midstream Corporation owns, operates, acquires, and develops midstream assets in the Appalachian Basin. The company operates through Gathering, Transmission, and Water segments. It operates dry gas gathering systems of high-pressure gathering lines and FERC-regulated interstate pipelines and storage systems.