Equitrans Midstream Corporation [NYSE: ETRN] gained 2.11% or 0.15 points to close at $7.26 with a heavy trading volume of 2429399 shares. The company report on January 24, 2023 that Equitrans Midstream Announces Quarterly Dividends.
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Equitrans Midstream Corporation (NYSE: ETRN) today declared quarterly cash dividends of $0.15 per common share and $0.4873 per share of Series A Perpetual Convertible Preferred Stock for the fourth quarter 2022. The dividends will be paid on February 14, 2023, to all applicable ETRN shareholders of record at the close of business on February 6, 2023.
It opened the trading session at $7.18, the shares rose to $7.27 and dropped to $7.072, the range by which the price of stock traded the whole day. The daily chart for ETRN points out that the company has recorded -0.55% loss over the past six months. However, it is still -23.68% lower than its most recent low trading price.
If we look at the average trading volume of 3.57M shares, ETRN reached to a volume of 2429399 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 $8.35 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 3.00. 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.
Wells Fargo have made an estimate for Equitrans Midstream Corporation shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on December 16, 2022. While these analysts kept the previous recommendation, Citigroup raised their target price to Neutral. The new note on the price target was released on December 09, 2022, representing the official price target for Equitrans Midstream Corporation stock. On September 28, 2022, analysts decreased their price target for ETRN shares from 9 to 6.50.
The Average True Range (ATR) for Equitrans Midstream Corporation is set at 0.25, with the Price to Sales ratio for ETRN stock in the period of the last 12 months amounting to 2.50. The Price to Book ratio for the last quarter was 3.27, 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 6.54 with Quick ratio for the last quarter at 0.60.
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 5.22. With this latest performance, ETRN shares gained by 9.50% in over the last four-week period, additionally sinking by -0.55% over the last 6 months – not to mention a drop of -15.48% 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 53.74, with the RSI for the last a single of trading hit 57.69, and the three-weeks RSI is set at 50.77 for Equitrans Midstream Corporation [ETRN]. The present Moving Average for the last 50 days of trading for this stock 7.33, while it was recorded at 7.15 for the last single week of trading, and 7.86 for the last 200 days.
Equitrans Midstream Corporation [ETRN]: A deeper dive into fundamental analysis
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 $2,957 million, or 96.60% 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 0.39% of the total institutional ownership; BLACKROCK INC., holding 48,954,664 shares of the stock with an approximate value of $355.41 million in ETRN stocks shares; and VANGUARD GROUP INC, currently with $328.7 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 February and at the time of the February reporting period, where 171 institutional holders increased their position in Equitrans Midstream Corporation [NYSE:ETRN] by around 49,306,438 shares. Additionally, 136 investors decreased positions by around 41,923,362 shares, while 55 investors held positions by with 316,111,215 shares. The mentioned changes placed institutional holdings at 407,341,015 shares, according to the latest SEC report filing. ETRN stock had 42 new institutional investments in for a total of 7,063,686 shares, while 38 institutional investors sold positions of 8,322,533 shares during the same period.