BlackRock Fund Advisors has recently announced that it has increased stake in Equitrans Midstream Corporation (NYSE:ETRN) by 0.59%. After grabbing 48.2 million shares, the institutional investor is now in possession of 0.28 million shares of the Energy Company. The new investment brought the stake of investor firm to 11.13% having worth around $452.15 million. Moreover, The Vanguard Group, Inc. increased its share by 1.59 million to have a control over 46.17 million shares. And SSgA Funds Management, Inc. raised its holdings to 55368.0 shares by acquiring 15.14 million shares or 3.49% of the stake.
Equitrans Midstream Corporation (ETRN) concluded trading on 01/04/24 at a closing price of $10.35, with 3.61 million shares of worth about $37.36 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 11.05% during that period and on Thursday the price saw a gain of about 0.68%. Currently the company’s common shares owned by public are about 432.78M shares, out of which, 430.83M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 14 analysts are covering the ETRN stock and their offered price forecasts bring an average price target of $11.46. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $13.00 and could fall to a lowest price of $9.00. The stock’s current price level is 9.69% above of average price target set by the analysts, while a rise to estimated low would result in loss of -15.0% for the stock. However, touching the estimated high of $13.00 would mean a gain of 20.38% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 17 times over the past 12 months. They bought 403,761 shares in 11 of the transactions. In 6 selling transactions, insiders dumped 12,458 shares.
Capital Income Builder, iShares Core S&P Mid Cap ETF, and Vanguard Total Stock Market ETF are the top 3 mutual funds which are holding stakes in Equitrans Midstream Corporation Capital Income Builder is currently holding 18.87 million shares of worth totaling $177.03 million. The company recently came buying 0.0 shares which brought its stake up to 4.36% of the company’s outstanding shares. iShares Core S&P Mid Cap ETF bought 2371.0 shares, after which its hold over company’s outstanding shares expand to 3.09%, leaving 13.36 million shares with the mutual fund that have a worth of about $125.36 million. Vanguard Total Stock Market ETF, after buying 13.08 million shares, have now control over 3.02% of the stake in the company. It holds 16929.0 shares of worth $122.72 million.
Equitrans Midstream Corporation (NYSE: ETRN) started trading at $10.45, above $0.17 from concluding price of the previous day. However, the stock later moved at a day high price of 10.64, or with a gain of 0.68%. Stock saw a price change of 0.98% in past 5 days and over the past one month there was a price change of 2.88%. Year-to-date (YTD), ETRN shares are showing a performance of 1.67% which increased to 54.48% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $4.60 but also hit the highest price of $10.48 during that period. The average intraday trading volume for Equitrans Midstream Corporation shares is 4.37 million. The stock is currently trading 2.68% above its 20-day simple moving average (SMA20), while that difference is up 9.47% for SMA50 and it goes to 22.89% higher than SMA200.
BlackRock Fund Advisors acquired 48.2 million shares of Equitrans Midstream Corporation having value of about $452.15 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.28 million shares in the company valued at close to $2948766.75, or have control over 0.59% stake in the company. Equitrans Midstream Corporation (NYSE: ETRN) currently have 432.78M outstanding shares and institutions hold larger chunk of about 88.52% of that. Holding of mutual funds in the company is about 34.83% while other institutional holders and individual stake holders have control over 54.65% and 12.34% of the stake respectively.
The stock has a current market capitalization of $4.48B and its 3Y-monthly beta is at 1.97. PE ratio of stock for trailing 12 months is 14.17, while it has posted earnings per share of $0.73 in the same period. Its PEG reads 5.45 and has Quick Ratio of 0.75 while making debt-to-equity ratio of 4.25. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ETRN, volatility over the week remained 2.01% while standing at 2.34% over the month.
Analysts are in expectations that Equitrans Midstream Corporation (ETRN) stock would likely to be making an EPS of $0.2 in the current quarter, while forecast for next quarter EPS is $0.25 and it is $0.82 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.06 which is $0.42 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.13 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 78.74% while it is estimated to increase by 13.25% in next year.
Analysts at 14 brokerage firms have issued recommendations for the Equitrans Midstream Corporation (ETRN)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.36. Out of those 14 Wall Street analysts, 5 recommended a “Buy” rating, while 5 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Wells Fargo on December 14, 2023 offering an Underweight rating for the stock and assigned a target price range of between $9 and $10 to it.
