Hexagon Capital Partners LLC Has $90,000 Stock Position in Equitrans Midstream Co. (NYSE:ETRN)

Hexagon Capital Partners LLC raised its holdings in Equitrans Midstream Co. (NYSE:ETRN) by 25.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 7,187 shares of the company’s stock after acquiring an additional 1,471 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Equitrans Midstream were worth $90,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. True North Advisors LLC boosted its stake in shares of Equitrans Midstream by 2.9% in the 1st quarter. True North Advisors LLC now owns 82,347 shares of the company’s stock valued at $1,029,000 after purchasing an additional 2,300 shares during the last quarter. Inscription Capital LLC bought a new stake in shares of Equitrans Midstream in the 1st quarter valued at $564,000. Rise Advisors LLC bought a new position in Equitrans Midstream during the first quarter worth $25,000. Mather Group LLC. bought a new position in Equitrans Midstream during the first quarter worth $54,000. Finally, PNC Financial Services Group Inc. boosted its stake in Equitrans Midstream by 11.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 39,947 shares of the company’s stock worth $407,000 after acquiring an additional 4,079 shares in the last quarter. 87.35% of the stock is currently owned by institutional investors and hedge funds.

Equitrans Midstream Stock Down 1.2 %

Shares of ETRN stock traded down $0.16 on Monday, hitting $12.82. The stock had a trading volume of 4,555,814 shares, compared to its average volume of 6,214,013. The business has a 50 day moving average of $13.70 and a 200 day moving average of $11.92. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 11.11 and a beta of 2.01. The company has a debt-to-equity ratio of 4.88, a current ratio of 0.63 and a quick ratio of 0.63. Equitrans Midstream Co. has a 12-month low of $8.44 and a 12-month high of $14.64.

Equitrans Midstream (NYSE:ETRN) last announced its earnings results on Tuesday, April 30th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.20 by $0.03. Equitrans Midstream had a net margin of 31.69% and a return on equity of 30.21%. The company had revenue of $364.27 million during the quarter, compared to the consensus estimate of $345.79 million. During the same quarter in the prior year, the company posted $0.22 earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, analysts expect that Equitrans Midstream Co. will post 0.78 EPS for the current year.

Equitrans Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, May 6th. This represents a $0.60 dividend on an annualized basis and a yield of 4.68%. Equitrans Midstream’s dividend payout ratio (DPR) is presently 66.67%.

Analyst Ratings Changes

Several research analysts recently issued reports on ETRN shares. Morgan Stanley increased their target price on shares of Equitrans Midstream from $13.00 to $17.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. US Capital Advisors lowered shares of Equitrans Midstream from an “overweight” rating to a “hold” rating in a research note on Monday, April 29th. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 target price on shares of Equitrans Midstream in a research note on Thursday, March 7th. Finally, Wells Fargo & Company upped their price objective on shares of Equitrans Midstream from $12.00 to $13.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $13.10.

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.