Brokers Set Expectations for Equitrans Midstream Co.’s FY2024 Earnings (NYSE:ETRN)
Equitrans Midstream Co. (NYSE:ETRN – Free Report) – Equities researchers at US Capital Advisors cut their FY2024 earnings estimates for Equitrans Midstream in a report issued on Wednesday, March 20th. US Capital Advisors analyst J. Carreker now forecasts that the company will earn $0.79 per share for the year, down from their previous estimate of $0.91. The consensus estimate for Equitrans Midstream’s current full-year earnings is $0.90 per share. US Capital Advisors also issued estimates for Equitrans Midstream’s Q4 2024 earnings at $0.28 EPS, Q1 2025 earnings at $0.30 EPS, Q2 2025 earnings at $0.26 EPS, Q3 2025 earnings at $0.27 EPS, Q4 2025 earnings at $0.29 EPS, FY2025 earnings at $1.11 EPS and FY2026 earnings at $1.24 EPS.
Equitrans Midstream (NYSE:ETRN – Get Free Report) last announced its quarterly earnings results on Tuesday, February 20th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.16. The company had revenue of $360.60 million during the quarter, compared to the consensus estimate of $348.04 million. Equitrans Midstream had a net margin of 30.89% and a return on equity of 30.41%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.13 earnings per share.
A number of other brokerages have also recently commented on ETRN. Barclays upped their price target on shares of Equitrans Midstream from $6.00 to $11.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 price objective on shares of Equitrans Midstream in a research report on Thursday, March 7th. TheStreet raised shares of Equitrans Midstream from a “d+” rating to a “c-” rating in a research report on Wednesday, December 27th. Wolfe Research cut shares of Equitrans Midstream from an “outperform” rating to a “peer perform” rating in a research report on Monday, December 4th. Finally, Morgan Stanley cut their price objective on shares of Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, February 22nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $10.86.
View Our Latest Analysis on ETRN
Equitrans Midstream Stock Performance
Shares of ETRN opened at $11.43 on Thursday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 4.83. The stock has a market capitalization of $4.99 billion, a P/E ratio of 12.71, a price-to-earnings-growth ratio of 1.44 and a beta of 1.97. The firm’s fifty day simple moving average is $10.62 and its two-hundred day simple moving average is $9.91. Equitrans Midstream has a 12 month low of $4.60 and a 12 month high of $11.71.
Equitrans Midstream Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Tuesday, February 6th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, February 5th. This represents a $0.60 dividend on an annualized basis and a yield of 5.25%. Equitrans Midstream’s dividend payout ratio is 67.42%.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the business. Lazard Asset Management LLC bought a new position in Equitrans Midstream in the 2nd quarter valued at $25,000. Chilton Capital Management LLC bought a new position in Equitrans Midstream in the 1st quarter valued at $33,000. Harvest Fund Management Co. Ltd bought a new position in Equitrans Midstream in the 4th quarter valued at $39,000. Captrust Financial Advisors boosted its holdings in Equitrans Midstream by 50.6% in the 2nd quarter. Captrust Financial Advisors now owns 6,682 shares of the company’s stock valued at $42,000 after purchasing an additional 2,244 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new position in Equitrans Midstream in the 1st quarter valued at $52,000. 86.68% of the stock is currently owned by hedge funds and other institutional investors.
About Equitrans Midstream
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.
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