Equitrans Midstream Corporation [NYSE: ETRN] loss -2.58% or -0.21 points to close at $7.94 with a heavy trading volume of 2382173 shares. The company report on November 1, 2022 that Equitrans Midstream Announces Third Quarter 2022 Results.
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Equitrans Midstream Corporation (NYSE: ETRN), today, announced financial and operational results for the third quarter 2022. 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.
It opened the trading session at $8.05, the shares rose to $8.16 and dropped to $7.85, the range by which the price of stock traded the whole day. The daily chart for ETRN points out that the company has recorded 4.89% gains over the past six months. However, it is still -35.26% lower than its most recent low trading price.
If we look at the average trading volume of 4.35M shares, ETRN reached to a volume of 2382173 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 $9.22 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 2.90. 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.
Wolfe Research have made an estimate for Equitrans Midstream Corporation shares, keeping their opinion on the stock as Peer Perform, with their previous recommendation back on October 19, 2022. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $9 to $6.50. The new note on the price target was released on September 28, 2022, representing the official price target for Equitrans Midstream Corporation stock. Previously, the target price had yet another raise to $13, while Wells Fargo analysts kept a Overweight rating on ETRN stock.
The Average True Range (ATR) for Equitrans Midstream Corporation is set at 0.33, with the Price to Sales ratio for ETRN stock in the period of the last 12 months amounting to 2.71. The Price to Book ratio for the last quarter was 3.58, with the Price to Cash per share for the same quarter was set at 0.11. Price to Free Cash Flow for ETRN in the course of the last twelve months was 7.10 with Quick ratio for the last quarter at 0.60.
Trading performance analysis for ETRN stock
Equitrans Midstream Corporation [ETRN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.29. With this latest performance, ETRN shares dropped by -3.87% in over the last four-week period, additionally plugging by 4.89% over the last 6 months – not to mention a drop of -24.67% 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 45.12, with the RSI for the last a single of trading hit 42.97, and the three-weeks RSI is set at 46.03 for Equitrans Midstream Corporation [ETRN]. The present Moving Average for the last 50 days of trading for this stock 8.31, while it was recorded at 8.17 for the last single week of trading, and 7.92 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 0.60 and a Current Ratio set at 0.60.
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 22.60%.
An analysis of insider ownership at Equitrans Midstream Corporation [ETRN]
There are presently around $3,267 million, or 96.80% of ETRN stock, in the hands of institutional investors. The top three institutional holders of ETRN stocks are: CAPITAL INTERNATIONAL INVESTORS with ownership of 49,137,873, which is approximately -0.444% of the company’s market cap and around 0.41% of the total institutional ownership; BLACKROCK INC., holding 48,954,664 shares of the stock with an approximate value of $388.7 million in ETRN stocks shares; and VANGUARD GROUP INC, currently with $359.49 million in ETRN stock with ownership of nearly 4.62% 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 170 institutional holders increased their position in Equitrans Midstream Corporation [NYSE:ETRN] by around 49,743,812 shares. Additionally, 134 investors decreased positions by around 41,910,542 shares, while 55 investors held positions by with 319,827,779 shares. The mentioned changes placed institutional holdings at 411,482,133 shares, according to the latest SEC report filing. ETRN stock had 37 new institutional investments in for a total of 6,952,532 shares, while 36 institutional investors sold positions of 8,281,653 shares during the same period.