Equitrans Midstream Corporation (ETRN) Stock Could Soon Reward Patient Investors

Equitrans Midstream Corporation (NYSE: ETRN) is 0.00% lower on its value in year-to-date trading and has touched a low of $4.60 and a high of $11.00 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The ETRN stock was last observed hovering at around $10.23 in the last trading session, with the day’s loss setting it -0.05%.

Currently trading at $10.18, the stock is -2.30% and -0.45% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.22 million and changing -0.49% at the moment leaves the stock 11.99% off its SMA200. ETRN registered 47.97% gain for a year compared to 6-month gain of 4.20%. The firm has a 50-day simple moving average (SMA 50) of $8.71 and a 200-day simple moving average (SMA200) of $10.67.

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The stock witnessed a -5.83% loss in the last 1 month and extending the period to 3 months gives it a 18.10%, and is -1.64% down 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 1.95% over the week and 2.20% over the month.

Equitrans Midstream Corporation (ETRN) has around Feb 05 2024 employees, a market worth around $4.41B and $1.39B in sales. Current P/E ratio is 13.94 and Fwd P/E is 10.78. Profit margin for the company is 22.93%. Distance from 52-week low is 121.30% and -7.45% from its 52-week high. The company has generated returns on investments over the last 12 months (3.71%).

Equitrans Midstream Corporation quarterly earnings per share for the current quarter are estimated at $0.2 with sales reaching $366.87M over the same period.The EPS is expected to grow by 63.12% this year, but quarterly earnings will post 4.20% year-over-year. Quarterly sales are estimated to grow 3.30% in year-over-year returns.

Equitrans Midstream Corporation (ETRN) Top Institutional Holders

454 institutions hold shares in Equitrans Midstream Corporation (ETRN), with institutional investors hold 91.14% of the company’s shares. The shares outstanding are 432.78M, and float is at 430.79M with Short Float at 2.41%. Institutions hold 90.67% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 53.47 million shares valued at $511.19 million. The investor’s holdings represent 12.34% of the ETRN Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 45.47 million shares valued at $434.65 million to account for 10.49% of the shares outstanding. The other top investors are Capital International Investors which holds 42.33 million shares representing 9.77% and valued at over $404.63 million, while State Street Corporation holds 3.48% of the shares totaling 15.08 million with a market value of $144.19 million.

Equitrans Midstream Corporation (ETRN) Insider Activity

A total of 0 insider transactions have happened at Equitrans Midstream Corporation (ETRN) in the last six months, with sales accounting for 0 and purchases happening 0 times. The most recent transaction is an insider sale by BAILEY VICKY A ,the company’sDirector. SEC filings show that BAILEY VICKY A sold 2,440 shares of the company’s common stock on Mar 24 at a price of $5.09 per share for a total of $12420.0. Following the sale, the insider now owns 0.0 shares.

Equitrans Midstream Corporation disclosed in a document filed with the SEC on Mar 16 that Oliver Kirk R (Sr VP & CFO) bought a total of 9,000 shares of the company’s common stock. The trade occurred on Mar 16 and was made at $5.46 per share for $49140.0. Following the transaction, the insider now directly holds 39118.0 shares of the ETRN stock.

Still, SEC filings show that on Mar 14, Moore Stephen M (Sr VP & General Counsel) acquired 8,500 shares at an average price of $5.86 for $49810.0. The insider now directly holds 188,916 shares of Equitrans Midstream Corporation (ETRN).