Equitrans Midstream (NASDAQ:ETRN) Rating Increased to Hold at Zacks Investment Research

Equitrans Midstream (NASDAQ:ETRN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Equitrans Midstream Corporation owns, operates, acquires and develops midstream assets primarily in the Appalachian Basin. It manages natural gas transmission, storage and gathering systems, as well as high-and low-pressure gathering lines. Equitrans Midstream Corporation is based in Pittsburgh, United States. “

A number of other brokerages have also commented on ETRN. BofA Securities lowered shares of Equitrans Midstream from a “neutral” rating to an “underperform” rating in a research note on Wednesday, August 19th. Bank of America lowered shares of Equitrans Midstream from a “neutral” rating to an “underperform” rating in a research note on Wednesday, August 19th. BidaskClub lowered shares of Equitrans Midstream from a “hold” rating to a “sell” rating in a research note on Friday, September 4th. JPMorgan Chase & Co. started coverage on shares of Equitrans Midstream in a report on Tuesday, July 14th. They set a “neutral” rating and a $11.00 price objective on the stock. Finally, UBS Group lifted their price objective on shares of Equitrans Midstream from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Equitrans Midstream currently has an average rating of “Hold” and an average target price of $11.61.

Shares of ETRN stock opened at $9.49 on Tuesday. The firm has a fifty day simple moving average of $10.28 and a two-hundred day simple moving average of $8.26. Equitrans Midstream has a 12 month low of $3.75 and a 12 month high of $15.24.

Equitrans Midstream (NASDAQ:ETRN) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.02. The business had revenue of $340.90 million for the quarter, compared to the consensus estimate of $356.33 million. The business’s revenue was down 16.1% on a year-over-year basis.

Several large investors have recently modified their holdings of the stock. Principal Financial Group Inc. boosted its holdings in shares of Equitrans Midstream by 102.9% in the 2nd quarter. Principal Financial Group Inc. now owns 1,250,733 shares of the company’s stock worth $10,394,000 after buying an additional 634,238 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in Equitrans Midstream by 60.9% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 50,200 shares of the company’s stock valued at $417,000 after purchasing an additional 19,000 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Equitrans Midstream by 37.8% during the second quarter. PNC Financial Services Group Inc. now owns 835,895 shares of the company’s stock valued at $6,947,000 after purchasing an additional 229,164 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in Equitrans Midstream by 2,763.9% during the second quarter. Neuberger Berman Group LLC now owns 397,217 shares of the company’s stock valued at $3,299,000 after purchasing an additional 383,347 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in Equitrans Midstream by 79.0% during the second quarter. Nuveen Asset Management LLC now owns 1,032,084 shares of the company’s stock valued at $8,576,000 after purchasing an additional 455,603 shares during the last quarter.

Equitrans Midstream Company Profile

Equitrans Midstream Corp. is a wholly-owned subsidiary of EQT. It doesn’t have business operations. The company was founded on February 21, 2018 and is headquartered in Canonsburg, PA.

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