Equitrans Midstream Corporation [ETRN] Revenue clocked in at $1.28 billion, down -31.33% YTD: What’s Next?


Equitrans Midstream Corporation [NYSE: ETRN] traded at a low on 06/15/22, posting a -0.42 loss after which it closed the day’ session at $7.10. The company report on June 13, 2022 that Equitrans Midstream Announces Early Tender Results and Upsize of Previously Announced Cash Tender Offers to an Aggregate Principal Amount of $500 Million from $200 Million.

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Equitrans Midstream Corporation (NYSE: ETRN) today announced the early results of the previously announced tender offers (each, an Offer and, collectively, the Offers) by its wholly owned subsidiary, EQM Midstream Partners, LP (the Partnership), to purchase for cash its outstanding notes set forth in the table below (the Notes). In connection with the early tender results, ETRN hereby announces that the Partnership has amended the terms of the Offers to increase the maximum aggregate principal amount of the Notes it is offering to purchase in the Offers from $200 million to $500 million (as increased and amended, the Aggregate Maximum Principal Amount) with a cap on the 2025 Notes (as defined below) of $300 million in aggregate principal amount (the 2025 Cap).

The terms and conditions of the Offers are set forth in the Partnership’s Offer to Purchase, dated May 31, 2022 (as amended by this press release, the Offer to Purchase).

The results of the trading session contributed to over 7936735 shares changing hands. Over the past one week, the price volatility of Equitrans Midstream Corporation stands at 4.80% while the volatility over the past one month is 4.28%.

The market cap for ETRN stock reached $3.15 billion, with 433.32 million shares outstanding and 431.00 million shares in the current float. Compared to the average trading volume of 4.81M shares, ETRN reached a trading volume of 7936735 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $8.77 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 2.70. 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.

Goldman have made an estimate for Equitrans Midstream Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 04, 2022. While these analysts kept the previous recommendation, Barclays raised their target price from $11 to $7. The new note on the price target was released on March 02, 2022, representing the official price target for Equitrans Midstream Corporation stock. Previously, the target price had yet another raise to $8, while Wells Fargo analysts kept a Equal Weight rating on ETRN stock. On February 01, 2022, analysts decreased their price target for ETRN shares from 15 to 9.

The Average True Range (ATR) for Equitrans Midstream Corporation is set at 0.37, with the Price to Sales ratio for ETRN stock in the period of the last 12 months amounting to 2.46. The Price to Book ratio for the last quarter was 1.98, with the Price to Cash per share for the same quarter was set at 0.09. Price to Free Cash Flow for ETRN in the course of the last twelve months was 5.57 with Quick ratio for the last quarter at 1.60.

How has ETRN stock performed recently?

Equitrans Midstream Corporation [ETRN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.56. With this latest performance, ETRN shares dropped by -5.21% in over the last four-week period, additionally sinking by -25.42% over the last 6 months – not to mention a drop of -25.34% 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 35.55, with the RSI for the last a single of trading hit 28.52, and the three-weeks RSI is set at 39.55 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 7.54 for the last single week of trading, and 8.98 for the last 200 days.

Equitrans Midstream Corporation [ETRN]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Equitrans Midstream Corporation [ETRN] shares currently have an operating margin of +52.37 and a Gross Margin at +62.90. Equitrans Midstream Corporation’s Net Margin is presently recorded at -104.82.

Return on Equity for this stock declined to -45.25, with Return on Assets sitting at -11.68.

Equitrans Midstream Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 1.60.

Earnings analysis for Equitrans Midstream Corporation [ETRN]

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. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Equitrans Midstream Corporation go to 41.60%.

Insider trade positions for Equitrans Midstream Corporation [ETRN]

There are presently around $2,747 million, or 89.80% of ETRN stock, in the hands of institutional investors. The top three institutional holders of ETRN stocks are: CAPITAL INTERNATIONAL INVESTORS with ownership of 49,239,507, which is approximately 5.914% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 47,832,584 shares of the stock with an approximate value of $341.05 million in ETRN stocks shares; and VANGUARD GROUP INC, currently with $305.1 million in ETRN stock with ownership of nearly 2.751% of the company’s market capitalization.

Positions in Equitrans Midstream Corporation stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 176 institutional holders increased their position in Equitrans Midstream Corporation [NYSE:ETRN] by around 60,501,061 shares. Additionally, 145 investors decreased positions by around 57,583,969 shares, while 56 investors held positions by with 267,169,478 shares. The mentioned changes placed institutional holdings at 385,254,508 shares, according to the latest SEC report filing. ETRN stock had 50 new institutional investments in for a total of 29,133,621 shares, while 54 institutional investors sold positions of 9,079,754 shares during the same period.