Equitrans Midstream Corporation [ETRN] fell -15.82% so far this year. What now?

Equitrans Midstream Corporation [NYSE: ETRN] gained 5.22% or 0.28 points to close at $5.64 with a heavy trading volume of 4302802 shares. The company report on February 21, 2023 that Equitrans Midstream Announces Full-Year and Fourth Quarter 2022 Results.

Equitrans Midstream Corporation (NYSE: ETRN), today, announced financial and operational results for the full-year and fourth 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.

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It opened the trading session at $5.53, the shares rose to $5.665 and dropped to $5.50, the range by which the price of stock traded the whole day. The daily chart for ETRN points out that the company has recorded -38.96% loss over the past six months. However, it is still -11.24% lower than its most recent low trading price.

If we look at the average trading volume of 4.13M shares, ETRN reached to a volume of 4302802 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 $7.70 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 3.20. 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 Sell, with their previous recommendation back on February 01, 2023. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $12 to $8. The new note on the price target was released on December 16, 2022, representing the official price target for Equitrans Midstream Corporation stock. Previously, the target price had yet another raise to $8, while Citigroup analysts kept a Neutral rating on ETRN stock.

The Average True Range (ATR) for Equitrans Midstream Corporation is set at 0.26, with the Price to Sales ratio for ETRN stock in the period of the last 12 months amounting to 1.86. The Price to Book ratio for the last quarter was 2.66, with the Price to Cash per share for the same quarter was set at 0.15. Price to Free Cash Flow for ETRN in the course of the last twelve months was 12.05 with Quick ratio for the last quarter at 0.90.

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 -2.42. With this latest performance, ETRN shares dropped by -13.10% in over the last four-week period, additionally sinking by -38.96% over the last 6 months – not to mention a drop of -28.06% 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 39.65, with the RSI for the last a single of trading hit 43.18, and the three-weeks RSI is set at 38.82 for Equitrans Midstream Corporation [ETRN]. The present Moving Average for the last 50 days of trading for this stock 6.54, while it was recorded at 5.44 for the last single week of trading, and 7.57 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 +54.32 and a Gross Margin at +63.79. Equitrans Midstream Corporation’s Net Margin is presently recorded at -19.84.

Return on Total Capital for ETRN is now 7.87, given the latest momentum, and Return on Invested Capital for the company is -3.05. Return on Equity for this stock declined to -14.14, with Return on Assets sitting at -2.52. When it comes to the capital structure of this company, Equitrans Midstream Corporation [ETRN] has a Total Debt to Total Equity ratio set at 438.59. Additionally, ETRN Total Debt to Total Capital is recorded at 81.43, with Total Debt to Total Assets ending up at 67.22. Long-Term Debt to Equity for the company is recorded at 752.31, with the Long-Term Debt to Total Capital now at 80.20.

Reflecting on the efficiency of the workforce at the company, Equitrans Midstream Corporation [ETRN] managed to generate an average of -$351,621 per employee. Receivables Turnover for the company is 5.19 with a Total Asset Turnover recorded at a value of 0.13.Equitrans Midstream Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 0.90.

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 $2,287 million, or 96.60% of ETRN stock, in the hands of institutional investors. The top three institutional holders of ETRN stocks are: BLACKROCK INC. with ownership of 51,729,117, which is approximately 5.667% of the company’s market cap and around 0.41% of the total institutional ownership; CAPITAL INTERNATIONAL INVESTORS, holding 49,236,368 shares of the stock with an approximate value of $277.69 million in ETRN stocks shares; and VANGUARD GROUP INC, currently with $261.49 million in ETRN stock with ownership of nearly 2.404% of the company’s market capitalization.

Positions in Equitrans Midstream Corporation stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 178 institutional holders increased their position in Equitrans Midstream Corporation [NYSE:ETRN] by around 41,389,973 shares. Additionally, 147 investors decreased positions by around 45,212,469 shares, while 50 investors held positions by with 318,841,924 shares. The mentioned changes placed institutional holdings at 405,444,366 shares, according to the latest SEC report filing. ETRN stock had 57 new institutional investments in for a total of 16,809,524 shares, while 33 institutional investors sold positions of 13,794,091 shares during the same period.


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