Equitrans Midstream Corporation [ETRN] stock Upgrade by Goldman analyst, price target now $9



Equitrans Midstream Corporation [NYSE: ETRN] loss -0.25% on the last trading session, reaching $7.83 price per share at the time. The company report on July 28, 2022 that Equitrans Midstream Releases 2022 Corporate Sustainability Report.

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Equitrans Midstream Corporation (NYSE: ETRN) released its annual corporate sustainability report, which utilizes the Global Reporting Initiative’s (GRI) newest ‘Consolidated Set of the GRI Standards 2021’ and continues to follow the Sustainability Accounting Standards Board (SASB) Oil & Gas Midstream reporting standards. Reflected in the report’s content are the results of our 2022 materiality assessment, which, for the first time, included engaging both internal and external stakeholders. The assessment also leveraged inputs from supplemental sources, including GRI, SASB, industry associations, agencies, and various sustainability frameworks to identify the Environmental, Social, and Governance (ESG) topics most significant to the Company’s business and stakeholders. The report can be viewed online: Equitrans’ 2022 Corporate Sustainability Report.

“With a vision to be one of North America’s premier midstream services companies, we recognize and appreciate that our stakeholders expect us to continue focusing on long-term sustainable performance by managing the relevant ESG factors that matter most,” said Diana M. Charletta, Equitrans’ president and chief operating officer. “We believe that our continued commitment to sustainability, including minimizing impacts to the environment and society, will serve to create long-term value for all stakeholders. Sustainability performance is about knowing we, as a Company, are doing the right thing for future generations – serving Americans’ current and increasing needs for reliable, clean-burning energy and supporting our national security and energy independence.”.

Equitrans Midstream Corporation represents 433.32 million in outstanding shares, while the company has a total market value of $3.15 billion with the latest information. ETRN stock price has been found in the range of $7.59 to $7.95.

If compared to the average trading volume of 3.84M shares, ETRN reached a trading volume of 6187877 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $8.45 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 0.35, 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 2.19, with the Price to Cash per share for the same quarter was set at 0.10. Price to Free Cash Flow for ETRN in the course of the last twelve months was 5.58 with Quick ratio for the last quarter at 1.60.

Trading performance analysis for ETRN stock

Equitrans Midstream Corporation [ETRN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.26. With this latest performance, ETRN shares gained by 23.11% in over the last four-week period, additionally sinking by -4.04% over the last 6 months – not to mention a drop of -4.74% 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 67.91, with the RSI for the last a single of trading hit 77.98, and the three-weeks RSI is set at 61.19 for Equitrans Midstream Corporation [ETRN]. The present Moving Average for the last 50 days of trading for this stock 7.20, while it was recorded at 7.62 for the last single week of trading, and 8.51 for the last 200 days.

Equitrans Midstream Corporation [ETRN]: A deeper dive into fundamental analysis

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.

Equitrans Midstream Corporation [ETRN]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at Equitrans Midstream Corporation [ETRN]

There are presently around $2,987 million, or 90.20% of ETRN stock, in the hands of institutional investors. The top three institutional holders of ETRN stocks are: CAPITAL INTERNATIONAL INVESTORS with ownership of 49,239,507, which is approximately 5.914% of the company’s market cap and around 0.41% of the total institutional ownership; BLACKROCK INC., holding 47,832,584 shares of the stock with an approximate value of $374.53 million in ETRN stocks shares; and VANGUARD GROUP INC, currently with $335.05 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 August and at the time of the August reporting period, where 182 institutional holders increased their position in Equitrans Midstream Corporation [NYSE:ETRN] by around 56,654,140 shares. Additionally, 132 investors decreased positions by around 61,652,677 shares, while 57 investors held positions by with 263,136,940 shares. The mentioned changes placed institutional holdings at 381,443,757 shares, according to the latest SEC report filing. ETRN stock had 58 new institutional investments in for a total of 29,326,678 shares, while 44 institutional investors sold positions of 7,832,512 shares during the same period.