Equitrans Midstream Corporation (NYSE:ETRN) does about 7.80M shares in volume on a normal day but saw 3656655 shares change hands in Tuesday trading. The company now has a market cap of 4.59B USD and an enterprise value of about $4.48B. Its current market price is $10.74, marking a decrease of -0.28% compared to the previous close of $10.77. The 52 week high reached by this stock is $15.24 whilst the lowest price level in 52 weeks is $3.75. The script in recent trading has seen the stock touch a high of $10.85 and a low of $10.53.
Equitrans Midstream Corporation (ETRN) has a 20-day trading average at $9.83 and the current price is -29.53% off the 52-week high compared with 186.40% distance from its 52-week low. The 50-day simple moving average of the closing price is $9.26 and its 200-day simple moving average is $9.26. If we look at the stock’s price movements over the week, volatility stands at 5.72%, which decreases to 4.56% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 70.04 to suggest the stock is overbought.
12 analysts observing the Equitrans Midstream Corporation (ETRN) stock have set the 12-month price targets for the company’s shares at between $10.00 and $15.00. The consensus objective for the share price is $11.20, suggesting that the stock has a potential upside of 4.11% over the period. The median price target is 10.5% away from the current levels at $12.00.
FactSet Research has provided data showing that 12 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 2 advise that it is a overweight. 6 analysts have rated it as a buy and 4 have advised that investors hold their positions. The consensus recommendation rating is Overweight and Wall Street’s advice is for investors to Moderate Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on July 14, 2020 when JP Morgan initiated the stock to “Neutral” and issued a price target of $11. Wells Fargo upgraded the stock to “Overweight” from Underweight on April 27, 2020 at a price target of $6-$11. Wells Fargo downgraded its price target at $11.
The current price level is 10.22%, 16.71%, and 15.73% away from its SMA20, SMA50, and SMA200 respectively, with the ETRN price moving below the 50-day SMA on August 10. Equitrans Midstream Corporation (ETRN) stock is up 10.46% over the week and 15.93% over the past month. Its price is -19.39% year-to-date and -26.08% over the past year.
The stock last released its quarterly earnings report for quarter ended 6/29/2020, with the company’s earnings per share (EPS) of $0.22 below consensus estimates by -$0.15. The company’s next earnings report is expected on 11/10/2020, with forecasts estimating quarterly EPS at $0.33 and $1.39 for whole year. ETRN’s earnings per share are forecast to shrink by -53.70% this year and -2.20% over next year. Expected sales for next quarter are $376.21 million, which analysts say will come at $1.5 billion for the current fiscal year and next year at $1.55 billion. In addition, estimates put the company’s current quarterly revenue at an average of $362.94 million.
Its 12-month price target is $12.00. To reach the target analysts have set, the stock logically needs to grow 4.11 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $10.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $15.00.
Outstanding shares total 432.47M with insiders holding 22.59% of the shares and institutional holders owning 116.09% of the company’s common stock. The company has a return on investment of 0.40% and return on equity of -17.80%. The forward price to earnings ratio is 7.61. Price to book ratio is 0.91 and price to sales ratio is 2.82.
According to a U.S. Securities and Exchange Commission filing, Capital Income Builder has added its position in Equitrans Midstream Corporation (ETRN) to 18,930,300 shares, mirroring a recent increase by 69.96%. Capital Income Builder added 7.79 million shares of Equitrans Midstream Corporation common stock bringing its total worth to about $157.31 million at the end of recent close, SEC documents show. Capital Income Builder isn’t the only investment manager who changed stakes and is followed by iShares Core S&P Mid Cap ETF, which sold off 0.0 shares to end up with 10,927,752 shares worth $90.81 million. Invesco Oppenheimer SteelPath MLP raise their holdings by 86.41% in the company over the course of the most recent quarter. It now holds a 2.38% position in Equitrans Midstream Corporation thanks to 10.3 million shares amounting to $85.62 million.