Tidewater Midstream and Infrastructure (TSE:TWM) Announces Quarterly Earnings Results

Tidewater Midstream and Infrastructure (TSE:TWM) issued its quarterly earnings results on Thursday. The company reported C$0.56 earnings per share for the quarter, FiscalAI reports. The company had revenue of C$552.10 million for the quarter. Tidewater Midstream and Infrastructure had a negative return on equity of 54.09% and a negative net margin of 7.71%.

Tidewater Midstream and Infrastructure Stock Up 3.1%

Tidewater Midstream and Infrastructure stock traded up C$0.67 during mid-day trading on Thursday, hitting C$22.03. The company had a trading volume of 106,954 shares, compared to its average volume of 60,580. The company has a quick ratio of 0.55, a current ratio of 0.91 and a debt-to-equity ratio of 368.12. Tidewater Midstream and Infrastructure has a 1 year low of C$4.00 and a 1 year high of C$22.95. The business has a fifty day moving average of C$18.49 and a 200 day moving average of C$13.20. The stock has a market cap of C$482.74 million, a price-to-earnings ratio of -4.44, a PEG ratio of 0.64 and a beta of 0.09.

Analysts Set New Price Targets

A number of research firms recently weighed in on TWM. ATB Cormark Capital Markets upped their target price on shares of Tidewater Midstream and Infrastructure from C$17.00 to C$19.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 9th. National Bank Financial upgraded shares of Tidewater Midstream and Infrastructure from a “hold” rating to an “outperform” rating and lifted their price target for the stock from C$17.00 to C$25.00 in a research note on Tuesday, July 21st. Royal Bank Of Canada increased their price objective on shares of Tidewater Midstream and Infrastructure from C$11.00 to C$18.00 and gave the company a “sector perform” rating in a research report on Friday, May 8th. Scotiabank lifted their price objective on shares of Tidewater Midstream and Infrastructure from C$17.00 to C$21.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 21st. Finally, Scotia raised their price target on Tidewater Midstream and Infrastructure from C$9.00 to C$17.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of C$20.00.

Tidewater Midstream and Infrastructure Company Profile

Tidewater Midstream and Infrastructure Ltd is a Canadian company that is engaged in providing midstream infrastructure and a natural gas storage facility. It mainly focuses on the purchase, sale, and transportation of Natural Gas Liquids (NGLs) such as propane and natural gasoline throughout North America and export to premium markets. The business activities of the company include gathering, processing, and transportation relates to raw gas gathering systems, processing plants and pipelines, NGL marketing and Extraction, refined products, and other activities.