Equitrans Midstream Corporation [NYSE: ETRN] closed the trading session at $8.09 on 12/02/20. The day’s price range saw the stock hit a low of $7.80, while the highest price level was $8.415. The company report on November 3, 2020 that Equitrans Midstream Announces Third Quarter 2020 Results.
Equitrans Midstream Corporation (NYSE: ETRN), announced financial and operational results for the third quarter 2020. Included in the “Non-GAAP Disclosures” section of this news release are important disclosures regarding the use of non-GAAP supplemental financial measures, including information regarding their most comparable GAAP financial measure.
Q3 2020 Highlights:.
The stocks have a year to date performance of -39.45 percent and weekly performance of -5.71 percent. The stock has been moved at -8.69 percent over the last six months. The stock has performed 12.83 percent around the most recent 30 days and changed -19.74 percent over the most recent 3-months.
If compared to the average trading volume of 4.66M shares, ETRN reached to a volume of 4592073 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Equitrans Midstream Corporation [ETRN]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ETRN shares is $11.38 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ETRN stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BofA Securities have made an estimate for Equitrans Midstream Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 18, 2020. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Equal-Weight. The new note on the price target was released on September 25, 2020, representing the official price target for Equitrans Midstream Corporation stock. Previously, the target price had yet another raise to $12, while Goldman analysts kept a Neutral rating on ETRN stock.
The Average True Range (ATR) for Equitrans Midstream Corporation is set at 0.43, with the Price to Sales ratio for ETRN stock in the period of the last 12 months amounting to 2.26. The Price to Book ratio for the last quarter was 1.10, with the Price to Cash per share for the same quarter was set at 0.42. Price to Free Cash Flow for ETRN in the course of the last twelve months was 11.02 with Quick ratio for the last quarter at 0.80.
ETRN stock trade performance evaluation
Equitrans Midstream Corporation [ETRN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.71. With this latest performance, ETRN shares gained by 12.83% in over the last four-week period, additionally sinking by -8.69% over the last 6 months – not to mention a drop of -14.84% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ETRN stock in for the last two-week period is set at 54.74, with the RSI for the last a single of trading hit 56.35, and the three-weeks RSI is set at 51.79 for Equitrans Midstream Corporation [ETRN]. The present Moving Average for the last 50 days of trading for this stock 7.92, while it was recorded at 8.23 for the last single week of trading, and 8.22 for the last 200 days.
Equitrans Midstream Corporation [ETRN]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Equitrans Midstream Corporation [ETRN] shares currently have an operating margin of +65.72 and a Gross Margin at +72.64. Equitrans Midstream Corporation’s Net Margin is presently recorded at -12.50.
Return on Total Capital for ETRN is now 9.92, given the latest momentum, and Return on Invested Capital for the company is -3.35. Return on Equity for this stock declined to -36.04, with Return on Assets sitting at -1.81. When it comes to the capital structure of this company, Equitrans Midstream Corporation [ETRN] has a Total Debt to Total Equity ratio set at 950.64. Additionally, ETRN Total Debt to Total Capital is recorded at 90.48, with Total Debt to Total Assets ending up at 53.11. Long-Term Debt to Equity for the company is recorded at 948.01, with the Long-Term Debt to Total Capital now at 90.23.
Reflecting on the efficiency of the workforce at the company, Equitrans Midstream Corporation [ETRN] managed to generate an average of -$254,679 per employee. Receivables Turnover for the company is 6.38 with a Total Asset Turnover recorded at a value of 0.14.Equitrans Midstream Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 0.80.
Earnings per share (EPS) analysis for Equitrans Midstream Corporation [ETRN] stock
With the latest financial reports released by the company, Equitrans Midstream Corporation posted 1.24/share EPS, while the average EPS was predicted by analysts to be reported at 0.47/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 163.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ETRN.
Equitrans Midstream Corporation [ETRN]: Insider Ownership positions
There are presently around $3,473 million, or 94.70% of ETRN stock, in the hands of institutional investors. The top three institutional holders of ETRN stocks are: CAPITAL INTERNATIONAL INVESTORS with ownership of 44,171,343, which is approximately 20.735% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 38,185,921 shares of the stock with an approximate value of $308.92 million in ETRN stocks shares; and BLACKROCK INC., currently with $281.75 million in ETRN stock with ownership of nearly -2.532% of the company’s market capitalization.
Positions in Equitrans Midstream Corporation stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 133 institutional holders increased their position in Equitrans Midstream Corporation [NYSE:ETRN] by around 49,553,729 shares. Additionally, 190 investors decreased positions by around 54,773,684 shares, while 52 investors held positions by with 324,968,461 shares. The mentioned changes placed institutional holdings at 429,295,874 shares, according to the latest SEC report filing. ETRN stock had 36 new institutional investments in for a total of 9,768,172 shares, while 57 institutional investors sold positions of 12,959,112 shares during the same period.