Plato Investment Management Ltd Has $62,000 Stock Position in Equitrans Midstream Co. (NYSE:ETRN)

Plato Investment Management Ltd reduced its position in shares of Equitrans Midstream Co. (NYSE:ETRN) by 30.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,953 shares of the company’s stock after selling 2,148 shares during the period. Plato Investment Management Ltd’s holdings in Equitrans Midstream were worth $62,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ETRN. Global Retirement Partners LLC increased its holdings in shares of Equitrans Midstream by 7,962.5% during the fourth quarter. Global Retirement Partners LLC now owns 35,717 shares of the company’s stock worth $377,000 after buying an additional 35,274 shares in the last quarter. Lewis Asset Management LLC acquired a new position in shares of Equitrans Midstream during the fourth quarter worth $407,000. Sowell Financial Services LLC increased its holdings in shares of Equitrans Midstream by 6.7% during the fourth quarter. Sowell Financial Services LLC now owns 92,868 shares of the company’s stock worth $945,000 after buying an additional 5,857 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Equitrans Midstream by 48.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 42,670 shares of the company’s stock worth $434,000 after buying an additional 14,000 shares in the last quarter. Finally, Pinkerton Retirement Specialists LLC increased its holdings in shares of Equitrans Midstream by 84.7% during the fourth quarter. Pinkerton Retirement Specialists LLC now owns 48,322 shares of the company’s stock worth $492,000 after buying an additional 22,153 shares in the last quarter. 87.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on ETRN shares. US Capital Advisors cut shares of Equitrans Midstream from an “overweight” rating to a “hold” rating in a research note on Monday, April 29th. Morgan Stanley boosted their price objective 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. Finally, Wells Fargo & Company boosted their price objective on shares of Equitrans Midstream from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research note 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.com, the stock has an average rating of “Hold” and an average price target of $13.10.

Equitrans Midstream Stock Performance

ETRN remained flat at $12.42 during trading on Thursday. The company has a debt-to-equity ratio of 4.88, a quick ratio of 0.63 and a current ratio of 0.63. The company has a market cap of $5.43 billion, a price-to-earnings ratio of 13.80, a P/E/G ratio of 11.19 and a beta of 2.01. The company has a fifty day moving average of $13.24 and a 200-day moving average of $12.28. Equitrans Midstream Co. has a twelve month low of $8.57 and a twelve month high of $14.64.

Equitrans Midstream (NYSE:ETRN) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. Equitrans Midstream had a net margin of 31.69% and a return on equity of 30.21%. The business had revenue of $364.27 million for the quarter, compared to analysts’ expectations of $345.79 million. During the same quarter in the prior year, the firm posted $0.22 earnings per share. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, equities analysts predict that Equitrans Midstream Co. will post 0.75 earnings per share for the current fiscal year.

About Equitrans Midstream

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.