B. Riley Wealth Advisors Inc. Acquires Shares of 11,343 Equitrans Midstream Co. (NYSE:ETRN)

B. Riley Wealth Advisors Inc. acquired a new stake in Equitrans Midstream Co. (NYSE:ETRN) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 11,343 shares of the company’s stock, valued at approximately $115,000.

A number of other large investors have also recently made changes to their positions in ETRN. Envestnet Asset Management Inc. lifted its stake in shares of Equitrans Midstream by 125.3% in the third quarter. Envestnet Asset Management Inc. now owns 516,372 shares of the company’s stock valued at $4,838,000 after buying an additional 287,176 shares in the last quarter. Dark Forest Capital Management LP lifted its stake in shares of Equitrans Midstream by 79.3% in the third quarter. Dark Forest Capital Management LP now owns 30,487 shares of the company’s stock valued at $286,000 after buying an additional 13,488 shares in the last quarter. Mariner LLC lifted its position in shares of Equitrans Midstream by 73.3% during the third quarter. Mariner LLC now owns 55,630 shares of the company’s stock valued at $521,000 after purchasing an additional 23,522 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Equitrans Midstream by 5.6% during the third quarter. Stifel Financial Corp now owns 327,171 shares of the company’s stock valued at $3,066,000 after purchasing an additional 17,312 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in shares of Equitrans Midstream during the third quarter valued at about $2,555,000. 87.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ETRN has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of Equitrans Midstream from $12.00 to $13.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 price target on shares of Equitrans Midstream in a research report on Thursday, March 7th. Morgan Stanley raised their price target on shares of Equitrans Midstream from $13.00 to $17.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. Finally, US Capital Advisors lowered shares of Equitrans Midstream from an “overweight” rating to a “hold” rating in a research report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $13.10.

Equitrans Midstream Stock Performance

NYSE ETRN opened at $12.97 on Friday. Equitrans Midstream Co. has a 52-week low of $8.44 and a 52-week high of $14.64. The company has a 50-day simple moving average of $13.70 and a 200 day simple moving average of $11.89. The company has a debt-to-equity ratio of 4.88, a quick ratio of 0.63 and a current ratio of 0.63. The company has a market capitalization of $5.62 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 11.31 and a beta of 1.98.

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

Equitrans Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, May 6th. This represents a $0.60 annualized dividend and a dividend yield of 4.63%. Equitrans Midstream’s payout ratio is 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.