Scotiabank Lowers Tidewater Midstream and Infrastructure (TSE:TWM) to Sector Perform

Scotiabank cut shares of Tidewater Midstream and Infrastructure (TSE:TWM) from an outperform rating to a sector perform rating in a research report released on Friday morning, BayStreet.CA reports. They currently have C$0.45 target price on the stock, down from their prior target price of C$0.85.

A number of other equities analysts have also recently issued reports on TWM. National Bankshares set a C$0.85 price objective on shares of Tidewater Midstream and Infrastructure and gave the company a sector perform rating in a research note on Wednesday, June 5th. Stifel Nicolaus reduced their price target on Tidewater Midstream and Infrastructure from C$1.25 to C$0.90 and set a hold rating on the stock in a research report on Thursday, April 25th. CIBC dropped their price objective on Tidewater Midstream and Infrastructure from C$0.95 to C$0.90 and set a neutral rating for the company in a report on Wednesday, June 5th. Finally, Royal Bank of Canada lowered Tidewater Midstream and Infrastructure from an outperform rating to a sector perform rating and cut their target price for the company from C$1.00 to C$0.80 in a research note on Friday, May 10th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of C$0.79.

Tidewater Midstream and Infrastructure Stock Down 11.8 %

Shares of TSE TWM opened at C$0.30 on Friday. Tidewater Midstream and Infrastructure has a 1 year low of C$0.28 and a 1 year high of C$1.10. The firm’s 50-day moving average is C$0.57 and its 200-day moving average is C$0.69. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 168.13. The firm has a market capitalization of C$128.70 million, a PE ratio of -0.34, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72.

About Tidewater Midstream and Infrastructure

Tidewater Midstream and Infrastructure Ltd. operates as a diversified midstream and infrastructure company in the United States. The company primarily focuses on natural gas, natural gas liquids (NGLs), crude oil, refined products, and renewable products and services. It also engages in the sale of refined petroleum products, including gasoline, low sulphur diesel, and ancillary products, as well as renewable fuels and natural gas; and gathering, processing, transporting, extraction, and marketing of crude oil, natural gas, and NGLs.