Mackenzie Financial Corp Sells 11,235 Shares of Equitrans Midstream Co. (NYSE:ETRN)

Mackenzie Financial Corp decreased its position in shares of Equitrans Midstream Co. (NYSE:ETRN) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 215,492 shares of the company’s stock after selling 11,235 shares during the period. Mackenzie Financial Corp’s holdings in Equitrans Midstream were worth $2,194,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. AlphaMark Advisors LLC increased its position in Equitrans Midstream by 66.2% during the 3rd quarter. AlphaMark Advisors LLC now owns 5,650 shares of the company’s stock worth $53,000 after buying an additional 2,250 shares during the period. DekaBank Deutsche Girozentrale bought a new position in Equitrans Midstream during the 3rd quarter worth $55,000. Operose Advisors LLC acquired a new stake in shares of Equitrans Midstream during the 3rd quarter worth $56,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Equitrans Midstream during the 3rd quarter worth $93,000. Finally, IFP Advisors Inc grew its holdings in shares of Equitrans Midstream by 688.2% during the 3rd quarter. IFP Advisors Inc now owns 12,604 shares of the company’s stock worth $118,000 after purchasing an additional 11,005 shares in the last quarter. Institutional investors own 87.35% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on ETRN shares. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 target price on shares of Equitrans Midstream in a report on Thursday, March 7th. Morgan Stanley reduced their target price on Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, February 22nd. TheStreet raised Equitrans Midstream from a “d+” rating to a “c-” rating in a report on Wednesday, December 27th. Finally, Barclays increased their target price on Equitrans Midstream from $6.00 to $11.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $10.86.

Equitrans Midstream Stock Performance

NYSE:ETRN opened at $12.89 on Wednesday. The stock’s 50-day simple moving average is $11.57 and its 200 day simple moving average is $10.40. The firm has a market capitalization of $5.62 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 1.66 and a beta of 1.97. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 4.83. Equitrans Midstream Co. has a twelve month low of $4.65 and a twelve month high of $13.10.

Equitrans Midstream (NYSE:ETRN) last released its quarterly earnings data on Tuesday, February 20th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.16. Equitrans Midstream had a return on equity of 30.41% and a net margin of 30.89%. The business had revenue of $360.60 million for the quarter, compared to analyst estimates of $348.04 million. During the same period last year, the firm posted $0.13 earnings per share. Equitrans Midstream’s revenue was up 1.5% compared to the same quarter last year. On average, analysts anticipate that Equitrans Midstream Co. will post 0.87 EPS for the current fiscal year.

Equitrans Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date is Monday, May 6th. Equitrans Midstream’s payout ratio is 67.42%.

Equitrans Midstream Company Profile

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.