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Why Equitrans Midstream Corporation (ETRN) Stock Could See Much Higher Prices Ahead

Equitrans Midstream Corporation (NYSE: ETRN) is 8.66% higher on its value in year-to-date trading and has touched a low of $5.87 and a high of $10.62 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The ETRN stock was last observed hovering at around $6.94 in the last trading session, with the day’s gains setting it 0.34% off its average median price target of $8.00 for the next 12 months. It is also 27.2% off the consensus price target high of $10.00 offered by 14 analysts, but current levels are -4.0% lower than the price target low of $7.00 for the same period.

Currently trading at $7.28, the stock is 5.26% and -1.76% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.75 million and changing 4.90% at the moment leaves the stock -7.67% off its SMA200. ETRN registered -31.06% loss for a year compared to 6-month loss of 5.51%.

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The stock witnessed a 11.49% gain in the last 1 month and extending the period to 3 months gives it a -10.46%, and is 0.69% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.71% over the week and 3.52% over the month.

Equitrans Midstream Corporation (ETRN) has around 766 employees, a market worth around $3.13B and $1.25B in sales. Fwd P/E is 18.91. Distance from 52-week low is 24.02% and -31.48% from its 52-week high. The company has generated returns on investments over the last 12 months (-11.70%).

Equitrans Midstream Corporation (ETRN) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Equitrans Midstream Corporation (ETRN) is a “Hold”. 14 analysts offering their recommendations for the stock have an average rating of 3.00, where 9 rate it as a Hold and 0 think it is a “Overweight”. 3 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Equitrans Midstream Corporation is expected to release its quarterly report on 05/02/2023.The EPS is expected to shrink by -413.70% this year.

Equitrans Midstream Corporation (ETRN) Top Institutional Holders

The shares outstanding are 433.35M, and float is at 431.01M with Short Float at 3.09%.

Equitrans Midstream Corporation (ETRN) Insider Activity

A total of 9 insider transactions have happened at Equitrans Midstream Corporation (ETRN) in the last six months, with sales accounting for 7 and purchases happening 2 times.

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