ExodusPoint Capital Management LP, a leading investment company, has recently acquired a significant position in Equitrans Midstream Co. According to the Securities and Exchange Commission’s latest filing, ExodusPoint Capital Management LP purchased 311,138 shares of Equitrans Midstream Co. stock during the fourth quarter at a valuation of $2,085,000. With this purchase, ExodusPoint Capital Management LP now owns approximately 0.07% of the company.
Equitrans Midstream Co. is known for its dividend payments and market stability. Recently, Equitrans Midstream Co. announced that it had issued a quarterly dividend of $0.15 per share on May 15th to shareholders of record on May 5th, giving an annualized dividend yield of 6.37%. While this may seem like a small amount for investors who are looking for higher yields in their investments, it is still impressive given the current volatility in the financial markets.
One insider who recently invested in Equitrans Midstream Co. was CFO Kirk R. Oliver. In March of this year, he bought 9,000 shares of Equitrans Midstream stock at an average cost of $5.46 per share – which totaled to $49,140 overall – adding up to ownership of about 39 thousand shares worth around $213 thousand.
Given all these recent developments in Equitrans Midstream’s finances and asset acquisition reports made by institutional investors like ExodusPoint Capitals Management LP underscores how stable the company is compared to other energy providers operating within its sphere with an ironclad financial foundation able withstand various market challenges overtime while retaining its shareholder distribution promises thanks to newly recruited high-level positions proving wise investment decisions is tantamount in large part as well.
In conclusion, it seems that investing in Equitrans Midstream Company offers one compelling proposition for investors searching for dependable revenue stream with minimal exposure risks over time with an opportunity to reap both short-term gains and long-term returns on their investment. As always, it is important for potential investors to conduct their due diligence and consult with professionals before making any investment decisions.
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Equitrans Midstream Sees Increase in Institutional Investor Stakes, Mixed Reviews from Analysts
Equitrans Midstream Co., a natural gas transmission and storage company, has seen an increase in institutional investor stakes in recent months, according to reports released on June 9th. Captrust Financial Advisors increased its stake by 50.6%, while Signaturefd LLC increased it by 89.6% and Cedar Brook Financial Partners LLC acquired a new position worth $80,000. These additions come after Neuberger Berman Group LLC recently raised its stake in the company by 20.6%. Hedge funds and other institutional investors now own 93.50% of Equitrans Midstream’s stock.
Research analysts have also been commenting on the business lately, with mixed reviews. Raymond James set a “market perform” rating on the stock while Citigroup increased its price target from $6.50 to $9.25 and Bank of America raised its target price from $5 to $9. Morgan Stanley upgraded Equitrans Midstream from “underweight” to “overweight” and raised its target price from $7 to $14, while US Capital Advisors also upgraded the stock from “hold” to “overweight.” The consensus rating currently stands at a “hold” with an average price target of $9.16.
On May 15th, Equitrans Midstream disclosed a quarterly dividend which was paid out at a rate of $0.15 per share with an annual yield of 6.37%. However, the firm’s payout ratio currently sits at -83.33%.
NYSE ETRN opened at $9.42 on June 9th with a debt-to-equity ratio of 4:81 and quick ratio/current ratio of 1:03 for both metrics respectively. Equitrans Midstream has ranged from a year-low of $4:60 to a year-high of $9:90 over the past year.
During Q1 2023, the company reported earnings per share of $0.22, which exceeded the consensus estimate by $0.08. Revenue for the quarter was $376.30 million, up from Q1 2022 and above analyst forecasts of $360.73 million. Despite a negative net margin of 18.27%, Equitrans Midstream had a positive return on equity of 18.92%. Analysts are optimistic about Equitrans Midstream’s future performance with an expected earnings per share figure of $0.51 for the year ahead.