Investors Should Take Note Of Equitrans Midstream Corporation (ETRN)

Equitrans Midstream Corporation (ETRN) concluded trading on Thursday at a closing price of $10.23, with 2.49 million shares of worth about $25.52 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 2.92% during that period and on Thursday the price saw a gain of about 1.09%. Currently the company’s common shares owned by public are about 432.78M shares, out of which, 430.79M shares are available for trading.

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.

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However, the stock later moved at a day high price of 10.23, or with a gain of 1.09%. Stock saw a price change of -2.39% in past 5 days and over the past one month there was a price change of -4.57%. Year-to-date (YTD), ETRN shares are showing a performance of 0.49% which increased to 48.69% 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 $11.00 during that period. The average intraday trading volume for Equitrans Midstream Corporation shares is 3.69 million. The stock is currently trading -2.09% below its 20-day simple moving average (SMA20), while that difference is up 0.26% for SMA50 and it goes to 12.87% higher than SMA200.

Equitrans Midstream Corporation (NYSE: ETRN) currently have 432.78M outstanding shares and institutions hold larger chunk of about 88.94% of that.

The stock has a current market capitalization of $4.43B and its 3Y-monthly beta is at 1.99. PE ratio of stock for trailing 12 months is 14.01, while it has posted earnings per share of $0.73 in the same period. Its PEG reads 5.39 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 2.05% while standing at 2.19% 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 $0.24 and it is $0.81 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.06 which is $0.41 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 63.12% while it is estimated to increase by 25.84% in next year.

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.

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