What Can We Learn From Equitrans Midstream Corporation (ETRN)’s Valuation Ratios?


Equitrans Midstream Corporation (NYSE:ETRN) finished Wednesday with a subtraction of -$0.1 to close at $9.14, a downside of -1.08 percent. An average of 6,107,640 shares of common stock have been traded in the last five days. There was a fall of -$0.47 in the past week, and it reached a new high 10 times over the past 12 months. The last 20 days have seen an average of 4,226,785 shares traded, while the 50-day average volume stands at 4,442,926.

ETRN stock has decreased by -3.08% in the last month. The company shares reached their 1-month lowest point of $8.75 on 09/07/22. With the stock rallying to its 52-week high on 01/18/22, shares of the company touched a low of $5.87 and a high of $11.52 in 52 weeks. It has reached a new high 8 times so far this year and lost -11.61% or -$1.20 in price. In spite of this, the price is down -20.66% from the 52-week high.

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Valuation Metrics

Equitrans Midstream Corporation (ETRN) stock’s beta is 1.98. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 3.27, the price-to-book (PB) ratio at 2.56, and the price-to-cash flow ratio at 8.06.

Financial Health

The quick ratio of Equitrans Midstream Corporation for the three months ended June 29 was 1.30, and the current ratio was 1.30, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 4.43 and a total debt to equity ratio of 0.00 for the quarter ending June 29. Its gross profit as reported stood at $633.56 million compared to revenue of $1.32 billion.

Earnings Surprise

For the three-month period that ended June 29, Equitrans Midstream Corporation had $420.5 million in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $55.23 million in the quarter, while revenues of $86.51 million were grew 59.28%. The analyst consensus anticipated Equitrans Midstream Corporation’s latest quarter earnings to come in at $0.12 per share, but it turned out to be $0.11, a -8.30% surprise. For the quarter, EBITDA amounted to $267.16 million. Shareholders own equity worth $432.78 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Equitrans Midstream Corporation (ETRN) price momentum. RSI 9-day as of the close on 21 September was 43.64%, suggesting the stock is Neutral, with historical volatility in this time frame at 37.16%.

As of today, ETRN’s price is $9.26 -4.89% or -$0.47 from its 5-day moving average. ETRN is currently trading -3.59% lower than its 20-day SMA and +10.79% higher than its 100-day SMA. However, the stock’s current price level is +41.49% above the SMA50 and -4.69% below the SMA200.

The stochastic %K and %D were 41.14% and 44.14%, respectively, and the average true range (ATR) was 0.38. With the 14-day stochastic at 35.14% and the average true range at 0.37, the RSI (14) stands at 49.05%. The stock has reached -0.21 on the 9-day MACD Oscillator while the 14-day reading was at -0.09.

Analyst Ratings

Wells Fargo upgraded Equitrans Midstream Corporation (NYSE: ETRN) to a an Overweight rating in its most recent analyst report. Previously, the stock was rated as an Equal weight. The consensus rating for Equitrans Midstream Corporation (ETRN) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell ETRN, while 6 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 5 others rate it as a “buy”.

What is ETRN’s price target for the next 12 months?

Analysts predict a range of price targets between $7.00 and $13.00, with a median target of $10.00. Taking a look at these predictions, the average price target given by analysts for Equitrans Midstream Corporation (ETRN) stock is $9.73.


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