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Equitrans Midstream Corporation (ETRN) Looks Ready for Growth Despite 23.08% Change This Year

Equitrans Midstream Corporation (NYSE: ETRN) is 23.08% higher on its value in year-to-date trading and has touched a low of $4.60 and a high of $12.68 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 $12.49 in the last trading session, with the day’s gains setting it 0.04%.

Currently trading at $12.53, the stock is 10.52% and 16.42% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 10.14 million and changing 0.32% at the moment leaves the stock 27.22% off its SMA200. ETRN registered 132.90% gain for a year compared to 6-month gain of 31.07%. The firm has a 50-day simple moving average (SMA 50) of $9.65 and a 200-day simple moving average (SMA200) of $11.14.

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The stock witnessed a 17.21% loss in the last 1 month and extending the period to 3 months gives it a 22.96%, and is 8.20% 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 2.69% over the week and 2.40% over the month.

Equitrans Midstream Corporation (ETRN) has around 773 employees, a market worth around $5.43B and $1.39B in sales. Current P/E ratio is 14.18 and Fwd P/E is 11.09. Profit margin for the company is 27.74%. Distance from 52-week low is 172.39% and -1.14% from its 52-week high. The company has generated returns on investments over the last 12 months (4.28%).

Equitrans Midstream Corporation quarterly earnings per share for the current quarter are estimated at $0.25 with sales reaching $369.29M over the same period.The EPS is expected to grow by 11.66% this year, but quarterly earnings will post 8.80% year-over-year. Quarterly sales are estimated to shrink -1.90% in year-over-year returns.

Equitrans Midstream Corporation (ETRN) Top Institutional Holders

471 institutions hold shares in Equitrans Midstream Corporation (ETRN), with institutional investors hold 89.82% of the company’s shares. The shares outstanding are 433.50M, and float is at 430.62M with Short Float at 2.28%. Institutions hold 89.22% 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.

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