A share of Equitrans Midstream Corporation (NYSE:ETRN) closed at $8.67 per share on Wednesday, up from $8.65 day before. While Equitrans Midstream Corporation has overperformed by 0.23%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ETRN rose by 4.96%, with highs and lows ranging from $11.52 to $5.87, whereas the simple moving average jumped by 2.08% in the last 200 days.
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On March 04, 2022, Goldman Upgraded Equitrans Midstream Corporation (NYSE: ETRN) to Buy. A report published by Barclays on March 02, 2022, Upgraded its rating to ‘Equal Weight’ for ETRN. Wells Fargo also Downgraded ETRN shares as ‘Equal Weight’, setting a target price of $8 on the company’s shares in a report dated February 24, 2022. UBS February 01, 2022d the rating to Neutral on February 01, 2022, and set its price target from $15 to $9. BofA Securities initiated its ‘Neutral’ rating for ETRN, as published in its report on September 28, 2021. Wells Fargo’s report from May 13, 2021 suggests a price prediction of $9 for ETRN shares, giving the stock a ‘Underweight’ rating. Barclays also rated the stock as ‘Underweight’.
Analysis of Equitrans Midstream Corporation (ETRN)
It’s important to note that ETRN shareholders are currently getting $0.60 per share in dividends, so investors will receive a return regardless of how the company performs. Further, the quarter-over-quarter decrease in sales is -10.00%, showing a negative trend in the upcoming months.
Equitrans Midstream Corporation’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of -59.80% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.60, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can be an extremely valuable indicator of volatility, and ETRN is registering an average volume of 4.01M. On a monthly basis, the volatility of the stock is set at 4.86%, whereas on a weekly basis, it is put at 5.50%, with a gain of 18.77% over the past seven days. Furthermore, long-term investors anticipate a median target price of $8.45, showing decline from the present price of $8.67, which can serve as yet another indication of whether ETRN is worth investing in or should be passed over.
How Do You Analyze Equitrans Midstream Corporation Shares?
Besides checking the fundamentals, you should also know how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.41%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 90.20% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in ETRN shares?
The recent increase in stakes in ETRN appears to be a result of several institutional investors and hedge funds increasing their positions. Capital Research & Management Co’s position in ETRN has increased by 5.91% in the first quarter. The company now owns 49,239,507 shares of the stock, with a value of $313.16 million, following the purchase of 2,749,573 additional shares during the last quarter. The Vanguard Group, Inc. made another increased to its shares in ETRN during the first quarter, upping its stake by 2.73%. During the last quarter, the company picked up 1,148,838 additional shares for a total stake of worth $275.24 million, bringing number of shares owned by the company to 43,276,434.
During the first quarter, BlackRock Fund Advisors added a 68,951 position in ETRN. T. Rowe Price Associates, Inc. purchased an additional 1.68 million shares in the last quarter, increasing its holdings by 7.75%, now holding 23.38 million shares worth $148.69 million. ETRN shares are owned by institutional investors to the tune of 90.20% at present.