Tidewater Midstream and Infrastructure (TSE:TWM) Trading Up 12.3% – Here’s Why

Shares of Tidewater Midstream and Infrastructure Ltd. (TSE:TWM) were up 12.3% during trading on Thursday . The stock traded as high as C$15.97 and last traded at C$15.46. Approximately 111,956 shares changed hands during trading, an increase of 195% from the average daily volume of 37,997 shares. The stock had previously closed at C$13.77.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TWM shares. ATB Cormark Capital Markets increased their price target on Tidewater Midstream and Infrastructure from C$6.00 to C$9.00 and gave the company a “sector perform” rating in a report on Friday, March 27th. Royal Bank Of Canada increased their price target on Tidewater Midstream and Infrastructure from C$10.00 to C$11.00 and gave the company a “sector perform” rating in a report on Friday, March 27th. National Bank Financial upgraded shares of Tidewater Midstream and Infrastructure from a “strong sell” rating to a “hold” rating and raised their price objective for the stock from C$4.50 to C$9.50 in a research note on Friday, March 27th. Finally, Scotiabank raised their price objective on shares of Tidewater Midstream and Infrastructure from C$7.00 to C$9.00 and gave the stock a “sector perform” rating in a research note on Friday, March 27th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of C$9.63.

Tidewater Midstream and Infrastructure Stock Performance

The firm’s 50 day moving average price is C$9.60 and its 200-day moving average price is C$6.94. The firm has a market cap of C$327.48 million, a price-to-earnings ratio of -2.89, a P/E/G ratio of 0.64 and a beta of -0.10. The company has a debt-to-equity ratio of 315.42, a current ratio of 0.61 and a quick ratio of 0.55.

Tidewater Midstream and Infrastructure (TSE:TWM) last announced its quarterly earnings data on Thursday, March 26th. The company reported C($1.38) earnings per share (EPS) for the quarter. The company had revenue of C$314.10 million during the quarter. Tidewater Midstream and Infrastructure had a negative return on equity of 49.98% and a negative net margin of 8.51%. On average, analysts anticipate that Tidewater Midstream and Infrastructure Ltd. will post 0.0199855 earnings per share for the current year.

About Tidewater Midstream and Infrastructure

Tidewater Midstream and Infrastructure Ltd is a Canadian company that is engaged in providing midstream infrastructure and a natural gas storage facility. It mainly focuses on the purchase, sale, and transportation of Natural Gas Liquids (NGLs) such as propane and natural gasoline throughout North America and export to premium markets. The business activities of the company include gathering, processing, and transportation relates to raw gas gathering systems, processing plants and pipelines, NGL marketing and Extraction, refined products, and other activities.