California Public Employees Retirement System bought a new position in shares of Equitrans Midstream Co. (NYSE:ETRN – Get Rating) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 511,267 shares of the company’s stock, valued at approximately $3,824,000. California Public Employees Retirement System owned 0.12% of Equitrans Midstream at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP lifted its stake in shares of Equitrans Midstream by 198.4% in the 3rd quarter. Allworth Financial LP now owns 3,638 shares of the company’s stock valued at $27,000 after purchasing an additional 2,419 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Equitrans Midstream in the 2nd quarter valued at about $32,000. Chilton Capital Management LLC acquired a new position in shares of Equitrans Midstream in the 2nd quarter valued at about $36,000. Wipfli Financial Advisors LLC acquired a new position in shares of Equitrans Midstream in the 3rd quarter valued at about $49,000. Finally, Captrust Financial Advisors lifted its stake in shares of Equitrans Midstream by 50.6% in the 2nd quarter. Captrust Financial Advisors now owns 6,682 shares of the company’s stock valued at $42,000 after purchasing an additional 2,244 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.
Equitrans Midstream Stock Performance
Shares of Equitrans Midstream stock opened at $6.49 on Tuesday. The company has a market cap of $2.82 billion, a PE ratio of -1.43, a price-to-earnings-growth ratio of 5.15 and a beta of 1.95. Equitrans Midstream Co. has a 52 week low of $5.87 and a 52 week high of $9.90. The business has a 50 day moving average price of $6.91 and a 200-day moving average price of $7.94. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 4.67.
Equitrans Midstream Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 14th. Investors of record on Monday, February 6th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 9.24%. The ex-dividend date of this dividend was Friday, February 3rd. Equitrans Midstream’s payout ratio is -13.19%.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on the company. Barclays dropped their price objective on Equitrans Midstream from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 18th. Wells Fargo & Company downgraded Equitrans Midstream from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $12.00 to $8.00 in a research note on Friday, December 16th. Citigroup started coverage on Equitrans Midstream in a research note on Thursday, December 8th. They set a “neutral” rating and a $8.00 price target on the stock. The Goldman Sachs Group downgraded Equitrans Midstream from a “buy” rating to a “sell” rating and dropped their price target for the stock from $9.50 to $6.00 in a research note on Tuesday, January 31st. Finally, Royal Bank of Canada dropped their price target on Equitrans Midstream from $10.00 to $9.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 2nd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Equitrans Midstream presently has a consensus rating of “Hold” and an average target price of $7.69.