Tidewater Midstream and Infrastructure (TSE:TWM) Shares Up 21% – Should You Buy?

Tidewater Midstream and Infrastructure Ltd. (TSE:TWM) shares were up 21% on Thursday. The stock traded as high as C$26.61 and last traded at C$26.61. 242,171 shares were traded during mid-day trading, an increase of 230% from the average session volume of 73,372 shares. The stock had previously closed at C$21.99.

Wall Street Analysts Forecast Growth

TWM has been the topic of a number of research analyst reports. Royal Bank Of Canada upgraded Tidewater Midstream and Infrastructure from a “hold” rating to a “moderate buy” rating in a report on Sunday, August 16th. ATB Cormark Capital Markets upped their price target on Tidewater Midstream and Infrastructure from C$26.00 to C$28.00 and gave the stock an “outperform” rating in a research note on Friday, October 23rd. National Bank Financial raised their price objective on Tidewater Midstream and Infrastructure from C$25.00 to C$27.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. Scotiabank lifted their price objective on Tidewater Midstream and Infrastructure from C$17.00 to C$21.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 21st. Finally, Scotia boosted their target price on Tidewater Midstream and Infrastructure from C$21.00 to C$26.00 and gave the stock a “sector perform” rating in a report on Friday, August 14th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Tidewater Midstream and Infrastructure currently has an average rating of “Moderate Buy” and a consensus target price of C$24.00.

Tidewater Midstream and Infrastructure Stock Up 21.1%

The firm’s 50-day moving average price is C$23.36 and its 200-day moving average price is C$16.36. The company has a market cap of C$584.16 million, a price-to-earnings ratio of -7.57, a price-to-earnings-growth ratio of 0.64 and a beta of -0.33. The company has a debt-to-equity ratio of 309.29, a current ratio of 0.93 and a quick ratio of 0.55.

Tidewater Midstream and Infrastructure (TSE:TWM) last issued its earnings results on Thursday, November 12th. The company reported C($1.19) EPS for the quarter. The business had revenue of C$628.20 million during the quarter. Tidewater Midstream and Infrastructure had a negative net margin of 4.75% and a negative return on equity of 42.19%. Sell-side analysts forecast that Tidewater Midstream and Infrastructure Ltd. will post 0.02 earnings per share for the current fiscal year.

Tidewater Midstream and Infrastructure Company Profile

Tidewater Midstream and Infrastructure Ltd. is traded on the TSX under the symbol ‘TWM’. Midstream’s business objective is to build a diversified midstream and infrastructure company across the North American gas processing, natural gas liquids (‘NGL’), petroleum refining, and renewables markets. Midstream’s strategy is to profitably grow and create shareholder value by acquiring and building high quality, strategically located infrastructure. To achieve its business objective, Midstream is focused on providing customers with a full service, vertically integrated value chain through the acquisition and development of energy infrastructure, including downstream facilities, natural gas processing facilities, NGL infrastructure, pipelines, storage, and various renewable initiatives.