BlackRock Fund Advisors recently announced the acquisition of new stake in Equitrans Midstream Corporation (NYSE:ETRN). The institutional investor has increased its shareholding in the Energy company by 0.59% to 48.2 million shares with purchase of 0.28 million shares. This fresh investment now brings its stake to 11.13% valued currently at $452.15 million. In addition, The Vanguard Group, Inc. raised its holdings by 1.59 million to 46.17 million shares. And SSgA Funds Management, Inc. has lifted its position by 0.37% or 55368.0 shares – to 15.14 million shares.
With over 4.04 million Equitrans Midstream Corporation (ETRN) shares trading Tuesday and a closing price of $10.72 on the day, the dollar volume was approximately $43.32 million. Currently, there are 432.78M common shares owned by the public and among those 430.95M shares have been available to trade.
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Insiders at the company have transacted a total of 17 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 11 of these insider trades were purchases, accounting for 403,761 shares. Insider sales of the common stock occurred on 6 occasions, with total insider shares sold totaling 12,458 shares.
The top 3 mutual fund holders in Equitrans Midstream Corporation are Capital Income Builder, iShares Core S&P Mid Cap ETF, and Vanguard Total Stock Market ETF. Capital Income Builder owns 18.87 million shares of the company’s stock, all valued at over $177.03 million. iShares Core S&P Mid Cap ETF bought 2371.0 shares to see its total holdings expand to 13.36 million shares valued at over $125.36 million and representing 3.09% of the shares outstanding. Vanguard Total Stock Market ETF bought 16929.0 shares to bring its total holdings to over 13.08 million shares at a value of $122.72 million. Vanguard Total Stock Market ETF now owns shares totaling to 3.02% of the shares outstanding.
Shares of Equitrans Midstream Corporation (NYSE: ETRN) opened at $10.65, down -$0.07 from a prior closing price of $10.72. The company’s stock has a 5-day price change of 4.48% and 11.32% over the past three months. ETRN shares are trading 5.30% year to date (YTD), with the 12-month market performance up to 51.20% higher. It has a 12-month low price of $4.60 and touched a high of $10.76 over the same period. ETRN has an average intraday trading volume of 4.38 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.28%, 12.14%, and 26.14% respectively.
Institutional ownership of Equitrans Midstream Corporation (NYSE: ETRN) shares accounts for 88.59% of the company’s 432.78M shares outstanding. Mutual fund holders own 34.56%, while other institutional holders and individual stakeholders account for 54.80% and 12.34% respectively.
It has a market capitalization of $4.64B and a beta (3y monthly) value of 1.97. The stock’s trailing 12-month PE ratio is 14.68, while the earnings-per-share (ttm) stands at $0.73. The company has a PEG of 5.65 and a Quick Ratio of 0.75 with the debt-to-equity ratio at 4.25. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.85% over the week and 2.40% over the month.
Analysts forecast that Equitrans Midstream Corporation (ETRN) will achieve an EPS of $Equitrans Midstream Corporation for the current quarter, $10.72 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $Eton Pharmaceuticals, Inc. while analysts give the company a high EPS estimate of $Ellington Residential Mortgage . Comparatively, EPS for the current quarter was $Entergy Corporation a year ago. Earnings per share for the fiscal year are expected to increase by 78.74%, and 13.25% over the next financial year.
Looking at the support for the ETRN, a number of firms have released research notes about the stock. Wells Fargo stated their Underweight rating for the stock in a research note on December 14, 2023, with the firm’s price target at $9-$10.
