Equitrans Midstream: A Closer Look at the Latest Update
Equitrans Midstream (NYSE:ETRN) has been in the spotlight lately after equities research analysts at Barclays lowered their target price from $8.00 to $6.00 in a recent research note. This update comes after the company posted its earnings results for the quarter ending February 21st.
The report shows that Equitrans Midstream had an EPS of $0.13, which was in line with the consensus estimate of $0.13. The company also had revenue of $355.24 million for the quarter, beating the consensus estimate of $336.26 million by a significant margin.
Equitrans Midstream operates through three primary segments: Gathering, Transmission, and Water. Its Gathering segment includes high-pressure gathering lines and low-pressure gathering lines regulated by FERC regulations. The Transmission segment includes interstate pipelines and storage systems regulated by FERC.
Despite the mixed results, some experts predict that Equitrans Midstream will post 0.46 earnings per share for this fiscal year as a whole, indicating possible growth over the coming months.
Investors may want to pay close attention to Equitrans Midstream’s upcoming news and financial reports to assess potential opportunities within its markets.
Barclays’ lowered price target for Equitrans still indicated potential upside from the stock’s current price by nearly 17 percent, hinting at cautious optimism about future prospects for investors interested in this sector.
Overall, while Equitrans Midstream’s latest update leaves room for speculation among market watchers as to what lies ahead for it amid changing market conditions, one thing is clear – this company remains an important player in providing midstream infrastructure services across multiple markets around America today and into tomorrow!
Equitrans Midstream Corp. Faces Analyst Scrutiny and CFO Shows Faith in Long-Term Potential
Equitrans Midstream Corp. has been under scrutiny lately with several analysts weighing in on the company’s performance. Wells Fargo & Company downgraded Equitrans Midstream from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $12.00 to $8.00 in December of 2020. Citigroup also decreased their target price on Equitrans Midstream from $8.00 to $6.50 and set a “neutral” rating for the company in April 2021. Finally, The Goldman Sachs Group downgraded Equitrans Midstream from a “buy” rating to a “sell” rating and lowered their target price for the stock from $9.50 to $6.00 earlier this year.
Despite these negative opinions, Equitrans Midstream’s CFO Kirk R. Oliver acquired 9,000 shares of company stock in March 2021, indicating that he has faith in the company’s long-term potential. Large investors have also recently added or reduced their stakes in the firm, with State of Alaska Department of Revenue increasing its holdings by 2.7% during Q3 of 2020.
Equitrans Midstream engages in midstream services such as high-pressure gathering lines and FERC-regulated interstate pipelines and storage systems through its Gathering and Transmission segments respectively while Water forms its third operating segment. The firm has a current ratio and quick ratio of 0.94 each, a debt-to-equity ratio of 4.91 and PEG ratio of 4.31 among other notable indicators as depicted through data uncovered by Bloomberg.
As at market open on May 17th listed ETRN pre-market session was trading at $5/51 per share while having a market cap worth over $2 billion despite being trading below its consensus price target by approximately 30%.