Market Analysts see Equitrans Midstream Corporation [ETRN] gaining to $11.50. Time to buy?

Equitrans Midstream Corporation [NYSE: ETRN] gained 1.22% or 0.11 points to close at $9.14 with a heavy trading volume of 2773732 shares. The company report on October 31, 2023 at 6:30 AM that Equitrans Midstream Announces Third Quarter 2023 Results.

Equitrans Midstream Corporation (NYSE: ETRN), today, announced financial and operational results for the third quarter 2023. 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 $9.08, the shares rose to $9.22 and dropped to $9.0426, the range by which the price of stock traded the whole day. The daily chart for ETRN points out that the company has recorded 7.15% gains over the past six months. However, it is still -98.7% lower than its most recent low trading price.

If we look at the average trading volume of 4.12M shares, ETRN reached to a volume of 2773732 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 $11.10 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 2.38. 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 October 06, 2023.

The Average True Range (ATR) for Equitrans Midstream Corporation is set at 0.22, with the Price to Sales ratio for ETRN stock in the period of the last 12 months amounting to 2.85. The Price to Book ratio for the last quarter was 3.93, with the Price to Cash per share for the same quarter was set at 0.42. Price to Free Cash Flow for ETRN in the course of the last twelve months was 8.52 with Quick ratio for the last quarter at 0.75.

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 1.11. With this latest performance, ETRN shares gained by 4.10% in over the last four-week period, additionally plugging by 7.15% over the last 6 months – not to mention a rise of 16.28% 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 53.87, with the RSI for the last a single of trading hit 58.07, and the three-weeks RSI is set at 51.43 for Equitrans Midstream Corporation [ETRN]. The present Moving Average for the last 50 days of trading for this stock 9.15, while it was recorded at 9.10 for the last single week of trading, and 7.96 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 0.75 and a Current Ratio set at 0.75.

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 2.60%.

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

The top three institutional holders of ETRN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in ETRN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in ETRN stock with ownership which is approximately 5.7994%.