In the last trading session, 6.89 million Equitrans Midstream Corporation (NYSE:ETRN) shares changed hands as the company’s beta touched 1.96. With the company’s per share price at $9.60 changed hands at $0.05 or 0.52% during last session, the market valuation stood at $4.14B. ETRN’s last price was a discount, traded about -9.17% off its 52-week high of $10.48. The share price had its 52-week low at $4.60, which suggests the last value was 52.08% up since then. When we look at Equitrans Midstream Corporation’s average trading volume, we note the 10-day average is 3.75 million shares, with the 3-month average coming to 5.41 million.
Analysts gave the Equitrans Midstream Corporation (ETRN) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.50. If we narrow down to specifics, the data shows that 0 out of 12 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 6 recommended ETRN as a Hold, 4 felt it is a Buy and 1 rated the stock as Underweight. Equitrans Midstream Corporation’s EPS for the current quarter is expected to be $0.11.
Equitrans Midstream Corporation (NYSE:ETRN) trade information
Instantly ETRN was in green as seen at the end of in last trading. With action 1.48%, the performance over the past five days has been green. The jump to weekly highs of 9.81 on Friday, 09/15/23 added 0.52% to the stock’s daily price. The company’s shares are showing year-to-date upside of 43.28%, with the 5-day performance at 1.48% in the green. However, in the 30-day time frame, Equitrans Midstream Corporation (NYSE:ETRN) is 0.42% up. Looking at the short shares, we see there were 13.73 million shares sold at short interest cover period of 3.04 days.
The consensus price target for the stock as assigned by Wall Street analysts is $11.22, meaning bulls need an upside of 14.44% from its current market value. According to analyst projections, ETRN’s forecast low is $9.00 with $14.00 as the target high. To hit the forecast high, the stock’s price needs a -45.83% plunge from its current level, while the stock would need to tank 6.25% for it to hit the projected low.
Equitrans Midstream Corporation (ETRN) estimates and forecasts
Data shows that the Equitrans Midstream Corporation share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 76.15% over the past 6 months, a 0.00% in annual growth rate that is considerably higher than the industry average of -21.50%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Equitrans Midstream Corporation will rise 22.20%, while the growth in revenue is estimated to hit 7.70% for the next quarter. Year-over-year growth is forecast to reach 5.20% up from the last financial year.
Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $325.66 million. 3 analysts are of the opinion that Equitrans Midstream Corporation’s revenue for the quarter ending Dec 2023 will be $349.65 million. The company’s revenue for the corresponding quarters a year ago was $337.63 million and $355.24 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -3.50%. The estimates for the next quarter sales put growth at -1.60%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -28.50%. The 2023 estimates are for Equitrans Midstream Corporation earnings to increase by 77.70%, but the outlook for the next 5-year period is at 2.60% per year.
Equitrans Midstream Corporation is expected to release its next quarterly earnings report in October. The 6.25% annual yield figure for the share gives it an annual dividend of 0.60. It is important to note, however, that the 6.25% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.