American International Group Inc. Has $8.13 Million Holdings in Equitrans Midstream Co. (NYSE:ETRN)

American International Group Inc. lessened its position in shares of Equitrans Midstream Co. (NYSE:ETRN) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 798,955 shares of the company’s stock after selling 25,971 shares during the quarter. American International Group Inc. owned approximately 0.18% of Equitrans Midstream worth $8,133,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Janney Montgomery Scott LLC boosted its stake in Equitrans Midstream by 30.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 53,506 shares of the company’s stock valued at $501,000 after buying an additional 12,532 shares in the last quarter. Pathstone Family Office LLC boosted its stake in Equitrans Midstream by 51.1% in the 3rd quarter. Pathstone Family Office LLC now owns 20,091 shares of the company’s stock valued at $188,000 after buying an additional 6,793 shares in the last quarter. Deutsche Bank AG boosted its stake in Equitrans Midstream by 16.5% in the 3rd quarter. Deutsche Bank AG now owns 234,295 shares of the company’s stock valued at $2,195,000 after buying an additional 33,134 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Equitrans Midstream in the 3rd quarter valued at $55,000. Finally, Kestra Advisory Services LLC boosted its stake in Equitrans Midstream by 60.5% in the 3rd quarter. Kestra Advisory Services LLC now owns 67,748 shares of the company’s stock valued at $635,000 after buying an additional 25,531 shares in the last quarter. Institutional investors and hedge funds own 87.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ETRN shares. Wells Fargo & Company boosted their price objective on Equitrans Midstream from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Barclays boosted their price objective on Equitrans Midstream from $6.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. US Capital Advisors lowered Equitrans Midstream from an “overweight” rating to a “hold” rating in a research note on Monday, April 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price objective on shares of Equitrans Midstream in a research note on Thursday, March 7th. Finally, Morgan Stanley boosted their price objective on Equitrans Midstream from $13.00 to $17.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Equitrans Midstream has a consensus rating of “Hold” and a consensus target price of $13.10.

Equitrans Midstream Trading Down 0.9 %

ETRN stock opened at $13.37 on Thursday. The company has a market cap of $5.80 billion, a P/E ratio of 14.86, a PEG ratio of 11.55 and a beta of 1.98. Equitrans Midstream Co. has a twelve month low of $8.44 and a twelve month high of $14.64. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 4.88. The business has a fifty day moving average of $13.58 and a 200-day moving average of $11.74.

Equitrans Midstream (NYSE:ETRN) last released its earnings results on Tuesday, April 30th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The company had revenue of $364.27 million during the quarter, compared to the consensus estimate of $345.79 million. Equitrans Midstream had a return on equity of 30.21% and a net margin of 31.69%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.22 earnings per share. As a group, equities research analysts expect that Equitrans Midstream Co. will post 0.78 EPS for the current year.

Equitrans Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th were issued a $0.15 dividend. The ex-dividend date of this dividend was Monday, May 6th. This represents a $0.60 dividend on an annualized basis and a yield of 4.49%. Equitrans Midstream’s dividend payout ratio is presently 66.67%.

Equitrans Midstream Company Profile

Equitrans Midstream Corporation owns, operates, acquires, and develops midstream assets in the Appalachian Basin. The company operates through Gathering, Transmission, and Water segments. It operates dry gas gathering systems of high-pressure gathering lines and FERC-regulated interstate pipelines and storage systems.