Saturday, February 27, 2021

BofA Securities lifts Equitrans Midstream Corporation [ETRN] price estimate. Who else is bullish?

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Equitrans Midstream Corporation [NYSE: ETRN] plunged by -$0.84 during the normal trading session on Tuesday and reaching a high of $8.575 during the day while it closed the day at $7.65. The company report on January 19, 2021 that Equitrans Midstream Announces Early Tender Results of Cash Tender Offers for up to $500 Million in Aggregate Principal Amount of Senior Notes.

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Equitrans Midstream Corporation (NYSE: ETRN) announced the early tender results of its wholly owned subsidiary, EQM Midstream Partners, LP’s (the Partnership) previously announced tender offers (each, an Offer and, collectively, the Offers) to purchase up to $500 million in aggregate principal amount (as such amount may be increased or eliminated by the Partnership pursuant to the terms of the Offers, the Aggregate Maximum Principal Amount) of its outstanding notes listed in the table below.


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The terms and conditions of the Offers are set forth in the Partnership’s Offer to Purchase, dated January 4, 2021, as amended by ETRN’s news release, dated January 4, 2021 (as amended, the Offer to Purchase). The Offer to Purchase relates to two separate Offers, one for each series of notes (each series, a Series of Notes, and such notes, collectively, the Notes).

Equitrans Midstream Corporation stock has also loss -3.89% of its value over the past 7 days. However, ETRN stock has declined by -5.79% in the 3 months of the year. Over the past six months meanwhile, it has lost -18.44% and lost -4.85% year-on date.

The market cap for ETRN stock reached $3.39 billion, with 432.77 million shares outstanding and 380.54 million shares in the current float. Compared to the average trading volume of 4.84M shares, ETRN reached a trading volume of 9948925 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 $10.83 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 2.40. 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 0.45, with the Price to Sales ratio for ETRN stock in the period of the last 12 months amounting to 2.16. The Price to Book ratio for the last quarter was 1.04, with the Price to Cash per share for the same quarter was set at 0.41. Price to Free Cash Flow for ETRN in the course of the last twelve months was 10.55 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 -3.89. With this latest performance, ETRN shares dropped by -10.74% in over the last four-week period, additionally sinking by -18.44% over the last 6 months – not to mention a drop of -42.70% 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 43.76, with the RSI for the last a single of trading hit 40.54, and the three-weeks RSI is set at 45.43 for Equitrans Midstream Corporation [ETRN]. The present Moving Average for the last 50 days of trading for this stock 7.98, while it was recorded at 8.35 for the last single week of trading, and 8.55 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 $3,244 million, or 94.20% 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 $292.12 million in ETRN stocks shares; and BLACKROCK INC., currently with $266.42 million in ETRN stock with ownership of nearly -2.532% of the company’s market capitalization.

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Positions in Equitrans Midstream Corporation stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 132 institutional holders increased their position in Equitrans Midstream Corporation [NYSE:ETRN] by around 48,416,395 shares. Additionally, 184 investors decreased positions by around 57,719,513 shares, while 54 investors held positions by with 317,896,032 shares. The mentioned changes placed institutional holdings at 424,031,940 shares, according to the latest SEC report filing. ETRN stock had 34 new institutional investments in for a total of 8,636,242 shares, while 53 institutional investors sold positions of 14,029,804 shares during the same period.

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