Wedge Capital Management L L P NC made headlines recently by acquiring a new stake in Equitrans Midstream Co. (NYSE:ETRN). According to the Securities & Exchange Commission, the firm reportedly acquired 40,134 shares of ETRN stock, with an estimated value of $232,000. This move is indicative of Wedge’s continued growth and expansion in the world of investments.
Equitrans Midstream Corporation has been delivering impressive results in recent quarters. The company operates in the Appalachian Basin and owns, operates, acquires and develops midstream assets. With three segments within their organization – Gathering, Transmission, and Water – Equitrans Midstream has managed to maintain impressive turnaround times while delivering excellent returns to their investors.
In May 2021, Equitrans Midstream released its quarterly earnings report which revealed an EPS of $0.22 per share for the quarter. This far exceeded the analysts’ consensus estimates of $0.14 by $0.08 and showcases just how well-managed Equitrans Midstream truly is. With a positive return on equity rate of 18.92% and a negative net margin rate of only 18.27%, it’s easy to see why savvy investors are eagerly paying attention.
Further good news comes from Equitrans Midstream’s revenue figures for Q1 2021 which were at $376.30 million; this compared favorably against analysts’ expectations which had stood at $360.73 million during this period last year when they posted $0.14 EPS but have now seen impressive growth with quarterly revenue being up by ten percent.
As we look forward into this year it will be interesting to see how these two businesses develop alongside one another given Wedge Capital Management L L P NC recent acquisition successes alongside Equitrans’ strong performance streaks over past quarters; however Research Analysts are forecasting that Equitrans Midstream will post 0.49 earnings per share for the current year, which suggests that there’s reason to believe this company will continue its upward trajectory in the months to come.
Overall, it is clear that Equitrans Midstream Corporation operates with industry expertise and delivers consistent results; we predict that the company’s future could be very lucrative indeed. With all of these factors in mind, investors would do well to look towards ETRN as a promising player in the midstream assets market.
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Equitrans Midstream: A Rising Star in the Appalachian Basin’s Midstream Assets Industry
Equitrans Midstream: The Rising Star of Appalachian Basin’s midstream assets
Equitrans Midstream is a leading company in acquiring and developing midstream assets in the Appalachian Basin. The company operates through three segments – Gathering, Transmission, and Water – to provide high-pressure gathering lines for dry gas, pipelines and storage systems for FERC-regulated interstate, and water pipelines for delivering fresh water from several regional waterways.
Recently, Equitrans Midstream has been grabbing attention from large investors who are buying into the company and selling its shares as its value increases day by day. MML Investors Services LLC boosted its stake in the shares by 9% during the third quarter. Meanwhile, Maverick Capital Ltd., Pathstone Family Office LLC, Yousif Capital Management LLC, and Profund Advisors LLC also increased their investments in this rising star with their stakes increasing between 0.7% to 12.7%.
Shares of ETRN stock opened at $9.04 on Friday, June 11th with a market cap of $3.92 billion, a P/E ratio of -12.56, a PEG ratio of 1.20 and beta rate is at 1.92%. Its 52-week low is $4.60 while the high is at $9.90 confirming positive movement based on investor feedback.
The recent announcement of a quarterly dividend represents the promising future that lies ahead for both new and existing investors which grows confidence in analysts highlighting their rising interest in Equitrans Midstream Corporation as it raised price targets following RBC’s lift from “sector perform” rating to “outperform,” raising price targets from $7 to $10 last May.
Morgan Stanley upgraded Equitrans Midstream from an “underweight” rating to an “overweight” rating accompanied by an increase in the stock price objective from $7 to $14 last June via research reports.
Though a “market perform” rating was recently set for Equitrans Midstream by Raymond James, ratings were overwhelmingly positive as US Captial Advisors upgraded the company from “hold” to “overweight,” while Bank of America lifted its price objective on shares from $5 to $9 following their analyst feedback and evaluation.
In conclusion, the recent increase in investor confidence through large investments and positive analyst ratings is reflective of the promising future that lies ahead for Equitrans Midstream as it continues to lead the Appalachian Basin’s midstream assets industry.