Hennessy Advisors Inc. Has $3.02 Million Holdings in Equitrans Midstream Co. (NYSE:ETRN)

Hennessy Advisors Inc. trimmed its stake in shares of Equitrans Midstream Co. (NYSE:ETRN) by 31.3% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 232,500 shares of the company’s stock after selling 106,000 shares during the quarter. Hennessy Advisors Inc. owned about 0.05% of Equitrans Midstream worth $3,018,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Equitrans Midstream by 3.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 28,020 shares of the company’s stock worth $364,000 after buying an additional 886 shares in the last quarter. Metis Global Partners LLC raised its stake in Equitrans Midstream by 8.0% during the fourth quarter. Metis Global Partners LLC now owns 16,868 shares of the company’s stock worth $172,000 after acquiring an additional 1,247 shares in the last quarter. Retirement Systems of Alabama lifted its holdings in shares of Equitrans Midstream by 0.3% in the first quarter. Retirement Systems of Alabama now owns 544,067 shares of the company’s stock worth $6,795,000 after acquiring an additional 1,430 shares during the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of Equitrans Midstream by 25.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 7,187 shares of the company’s stock valued at $90,000 after purchasing an additional 1,471 shares in the last quarter. Finally, Donoghue Forlines LLC grew its holdings in shares of Equitrans Midstream by 3.9% during the 4th quarter. Donoghue Forlines LLC now owns 43,216 shares of the company’s stock valued at $440,000 after purchasing an additional 1,626 shares during the last quarter. Institutional investors own 87.35% of the company’s stock.

Equitrans Midstream Price Performance

Shares of NYSE:ETRN opened at $12.42 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 4.88. The stock has a market cap of $5.43 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 11.19 and a beta of 2.01. The stock’s fifty day simple moving average is $12.72 and its two-hundred day simple moving average is $12.48. Equitrans Midstream Co. has a 1-year low of $8.57 and a 1-year high of $14.64.

Analysts Set New Price Targets

A number of brokerages have recently commented on ETRN. Morgan Stanley increased their price target on Equitrans Midstream from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Wells Fargo & Company raised their price objective on shares of Equitrans Midstream from $12.00 to $13.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Finally, US Capital Advisors downgraded shares of Equitrans Midstream from an “overweight” rating to a “hold” rating in a research note on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Equitrans Midstream presently has a consensus rating of “Hold” and a consensus 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.