Federated Hermes Inc. Trims Stake in Equitrans Midstream Co. (NYSE:ETRN)

Federated Hermes Inc. cut its stake in Equitrans Midstream Co. (NYSE:ETRN) by 49.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 549,857 shares of the company’s stock after selling 539,103 shares during the period. Federated Hermes Inc. owned about 0.13% of Equitrans Midstream worth $5,598,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Equitrans Midstream by 17.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 107,955 shares of the company’s stock worth $1,099,000 after acquiring an additional 15,967 shares in the last quarter. Strs Ohio grew its position in Equitrans Midstream by 9.3% in the fourth quarter. Strs Ohio now owns 57,700 shares of the company’s stock worth $587,000 after acquiring an additional 4,900 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in Equitrans Midstream in the fourth quarter worth $1,239,000. Miller Howard Investments Inc. NY grew its position in Equitrans Midstream by 1.5% in the fourth quarter. Miller Howard Investments Inc. NY now owns 1,039,733 shares of the company’s stock worth $10,584,000 after acquiring an additional 15,420 shares in the last quarter. Finally, Pinkerton Retirement Specialists LLC grew its position in Equitrans Midstream by 84.7% in the fourth quarter. Pinkerton Retirement Specialists LLC now owns 48,322 shares of the company’s stock worth $492,000 after acquiring an additional 22,153 shares in the last quarter. 87.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 target price on shares of Equitrans Midstream in a research report on Thursday, March 7th. Morgan Stanley lowered their price target on shares of Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, February 22nd. Finally, Barclays boosted their price target on shares of Equitrans Midstream from $6.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $10.86.

Equitrans Midstream Stock Performance

Shares of NYSE:ETRN opened at $13.72 on Friday. The company has a market cap of $5.99 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 1.71 and a beta of 1.97. The company has a 50-day moving average price of $11.70 and a 200-day moving average price of $10.45. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 4.83. Equitrans Midstream Co. has a 12 month low of $4.65 and a 12 month high of $13.75.

Equitrans Midstream (NYSE:ETRN) last issued its quarterly earnings data on Tuesday, February 20th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.16 by $0.16. The firm 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 quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.13 earnings per share. As a group, equities analysts anticipate that Equitrans Midstream Co. will post 0.87 EPS for the current year.

Equitrans Midstream Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 4.37%. The ex-dividend date of this dividend is Monday, May 6th. Equitrans Midstream’s dividend payout ratio (DPR) 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.