The stock of Equitrans Midstream Corporation (NYSE:ETRN) decreased by -$0.41 on Monday to finish at $9.56, down -4.11 percent. The last five days have seen an average of 5,740,600 shares of common stock traded. 13 times new highs were reached in the current year, with a gain of $2.86. The average number of shares traded over the last 20 days was 6,720,640, while the average volume over the last 50 days totaled 7,272,728.
ETRN stock appreciated 8.27% since last month. On 07/17/23, the company’s shares reached a one-month low of $8.74. The stock touched a high of $10.48 on 07/28/23, after rallying from a low of $4.60 in 52 weeks. The price of ETRN stock has risen by 42.69% or $2.86 this year, reaching a new high 13 times. Still, the stock price is down -8.78% from the 52-week high.
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Insider Transactions
ETRN stock investors should be aware that Equitrans Midstream Corporation (ETRN) stock had its last reported insider trading activity 144 days ago on Mar 24. On Mar 24, Director BAILEY VICKY A sold 2,440 shares at $5.09 each. This transaction resulted in the insider making $12,420. On Mar 16, Oliver Kirk R added 9,000 shares at a price of US$5.46. After the transaction, the insider now owns 39,118 shares. Sr VP & General Counsel Moore Stephen M had earlier bought 8,500 shares on Mar 14 for $5.86 a share. The transaction was completed for $49,810.
Valuation Metrics
Beta for the stock is 1.95. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 2.94, the price-to-book (PB) ratio of 4.37, and the price-to-cash flow ratio of 9.09.
Company paid $0.15 per share in dividends, remained unchanged from $0.15 last year. A $0.30 dividend decrease was reported on Wednesday April 29 2020.
Financial Health
For the three months ended June 29, Equitrans Midstream Corporation’s quick ratio was 0.90, while its current ratio was 0.90, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 7.26, and the total debt to equity ratio is 7.26. As far as profitability goes, gross margin for the trailing twelve months is 87.10% percent. Equitrans Midstream Corporation’s EBITDA margin for the year ended June 29 was 79.15%, whereas its operating margin stood at 8.50% for the same period. Based on annual data, it had gross profit of $737.59 million and revenue of $1.36 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. ETRN’s return on assets (ROA) during the last 12 months has been -3.10%. There was a 1.60% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -34.90%.
Earnings Surprise
According to Equitrans Midstream Corporation’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $318.47 million, while revenues fell by -3.18% to $376.34 million. It was predicted that Equitrans Midstream Corporation’s quarterly earnings would be $0.12, but it ended up being $0.11, beating the consensus by 9.10%. EBITDA was $215.77 million for the quarter. At the end of Equitrans Midstream Corporation’s most recent quarter ended June 29, its liabilities totaled 9.31 billion, while its total debt was $6.91 billion. Equity owned by shareholders amounts to $433.26 million.
Technical Picture
Here’s a quick look at Equitrans Midstream Corporation’s (ETRN) price momentum from a technical perspective. As of 14 August, the RSI 9-day stood at 44.83%, suggesting the stock is Neutral, with a 33.00% historical volatility rate.
The stochastic %K and %D were 47.05% and 51.49% respectively, while the average true range (ATR) was 0.36. Based on the 14-day stochastic reading of 34.29%, the RSI (14) reading is 49.84%. On the 9-day MACD Oscillator, the stock is at -0.05, and the 14-day reading is at -0.12.
Analyst Ratings
In its most recent analyst report, Morgan Stanley raised its rating on Equitrans Midstream Corporation (NYSE: ETRN) to an Overweight. Prior to this, analysts firm rated the stock as an Underweight.
