Equitrans Midstream Corporation (NYSE:ETRN) has a beta value of 0 and has seen 4,862,980 shares traded in the last trading session. The company, currently valued at $3.61 Billion, closed the last trade at $8.35 per share which meant it lost -$0.19 on the day or -2.22% during that session. The ETRN stock price is -79.64% off its 52-week high price of $15 and 55.09% above the 52-week low of $3.75. If we look at the company’s 10-day average daily trading volume, we find that it stood at 4.43 Million shares traded. The 3-month trading volume is 4.18 Million shares.
The consensus among analysts is that Equitrans Midstream Corporation (ETRN) is an Overweight stock at the moment, with a recommendation rating of 2.4. None of the analysts rate the stock as a Sell, while 2 rate it as Overweight. 4 out of 13 have rated it as a Hold, with 6 advising it as a Buy. 1 have rated the stock as Underweight. The expected earnings per share for the stock is $0.32.
Equitrans Midstream Corporation (NYSE:ETRN) trade information
Despite being -2.22% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Thursday, Oct 22 when the ETRN stock price touched $8.70-4 or saw a rise of 4.02%. Year-to-date, Equitrans Midstream Corporation shares have moved -37.5%, while the 5-day performance has seen it change 2.83%. Over the past 30 days, the shares of Equitrans Midstream Corporation (NYSE:ETRN) have changed 0.24%. Short interest in the company has seen 28.55 Million shares shorted with days to cover at 6.83.
Wall Street analysts have a consensus price target for the stock at $12.13, which means that the shares’ value could jump 45.27% from current levels. The projected low price target is $9.5 while the price target rests at a high of $15. In that case, then, we find that the current price level is +79.64% off the targeted high while a plunge would see the stock lose 13.77% from current levels.
Equitrans Midstream Corporation (ETRN) estimates and forecasts
Figures show that Equitrans Midstream Corporation shares have underperformed across the wider relevant industry. The company’s shares have lost -0.95% over the past 6 months, with this year growth rate of -51.67%, compared to -16% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are -66% and -73.4% for the next quarter. Revenue growth from the last financial year stood is estimated to be -6.7%.
7 analysts offering their estimates for the company have set an average revenue estimate of $364.79 Million for the current quarter. 7 have an estimated revenue figure of $384.8 Million for the next quarter concluding in December 01, 2020. Year-ago sales stood $408.43 Million and $425.86 Million respectively for this quarter and the next, and analysts expect sales will grow by -10.7% for the current quarter and -9.6% for the next.
Earnings growth for 2020 is a modest -172%.
Equitrans Midstream Corporation is expected to release its next earnings report between November 03 and November 03 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.6 at a share yield of 7.03%.
Equitrans Midstream Corporation (NYSE:ETRN)’s Major holders
Insiders own 22.59% of the company shares, while shares held by institutions stand at 116.09% with a share float percentage of 149.96%. Investors are also buoyed by the number of investors in a company, with Equitrans Midstream Corporation having a total of 388 institutions that hold shares in the company. The top two institutional holders are Capital International Investors with over 36.59 Million shares worth more than $304.02 Million. As of June 29, 2020, Capital International Investors held 8.46% of shares outstanding.
The other major institutional holder is Blackrock Inc., with the holding of over 35.73 Million shares as of June 29, 2020. The firm’s total holdings are worth over $296.93 Million and represent 8.26% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Capital Income Builder, Inc. and iShares Core S&P Midcap ETF. As of September 29, 2020, the former fund manager holds about 4.38% shares in the company for having 18930300 shares of worth $160.15 Million while later fund manager owns 10.67 Million shares of worth $90.24 Million as of September 29, 2020, which makes it owner of about 2.47% of company’s outstanding stock.