In the last trading session, 9.05 million Equitrans Midstream Corporation (NYSE:ETRN) shares changed hands as the company’s beta touched 1.98. With the company’s per share price at $11.79 changed hands at $0.04 or 0.34% during last session, the market valuation stood at $5.11B. ETRN’s last price was a discount, traded about -0.08% off its 52-week high of $11.80. The share price had its 52-week low at $4.60, which suggests the last value was 60.98% up since then. When we look at Equitrans Midstream Corporation’s average trading volume, we note the 10-day average is 10.33 million shares, with the 3-month average coming to 5.78 million.
Equitrans Midstream Corporation (NYSE:ETRN) trade information
Instantly ETRN was in green as seen at the end of in last trading. With action 6.03%, the performance over the past five days has been green. The jump to weekly highs of 11.91 added 0.34% to the stock’s daily price. The company’s shares are showing year-to-date upside of 15.82%, with the 5-day performance at 6.03% in the green. However, in the 30-day time frame, Equitrans Midstream Corporation (NYSE:ETRN) is 12.93% up. Looking at the short shares, we see there were 9.9 million shares sold at short interest cover period of 2.31 days.
Equitrans Midstream Corporation (ETRN) estimates and forecasts
Data shows that the Equitrans Midstream Corporation share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 23.84% over the past 6 months, a -4.40% in annual growth rate that is considerably lower than the industry average of 7.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Equitrans Midstream Corporation will rise 13.60%. Year-over-year growth is forecast to reach 8.80% up from the last financial year.
Consensus estimates given by 4 financial analysts project the company’s revenue in the current quarter to hit an average of $369.29 million. 4 analysts are of the opinion that Equitrans Midstream Corporation’s revenue for the quarter ending Jun 2024 will be $352.57 million. The company’s revenue for the corresponding quarters a year ago was $376.34 million and $329.99 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -1.90%. The estimates for the next quarter sales put growth at 6.80%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 0.70%. The 2024 estimates are for Equitrans Midstream Corporation earnings to increase by 11.66%, but the outlook for the next 5-year period is at 8.60% per year.
ETRN Dividends
Equitrans Midstream Corporation is expected to release its next quarterly earnings report between April 30 and May 06. The 5.09% annual yield figure for the share gives it an annual dividend of 0.60. It is important to note, however, that the 5.09% 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.
Equitrans Midstream Corporation (NYSE:ETRN)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.67% of Equitrans Midstream Corporation shares while 89.22% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 89.82%. There are 89.22% institutions holding the Equitrans Midstream Corporation stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 12.34% of the shares, roughly 53.47 million ETRN shares worth $511.19 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 10.49% or 45.47 million shares worth $434.65 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jul 30, 2023 were Capital Income Builder, Inc. and iShares Core S&P Midcap ETF. With 18.87 million shares estimated at $195.71 million under it, the former controlled 4.36% of total outstanding shares. On the other hand, iShares Core S&P Midcap ETF held about 3.13% of the shares, roughly 13.55 million shares worth around $126.97 million.
