As of Friday close, Equitrans Midstream Corporation’s (NYSE:ETRN) stock was up $0.21, moving up 2.25 percent to $9.54. The average number of shares traded per day over the past five days has been 3,263,280 shares. 3 times new highs have been achieved over the past 5 days, with a -$0.06 fall in that time frame. In the last twenty days, the average volume was 3,370,660, while in the previous 50 days, it was 4,717,682.
Since last month, ETRN stock retreated -1.85%. Shares of the company fell to $9.20 on 09/11/23, the lowest level in the past month. A 52-week high of $10.48 was reached on 07/28/23 after having rallying from a 52-week low of $4.60. Since the beginning of this year, ETRN’s stock price has risen by 42.39% or $2.84, and marked a new high 13 times. However, the stock has declined by -8.97% since its 52-week high.
ETRN stock investors should be aware that Equitrans Midstream Corporation (ETRN) stock had its last reported insider trading activity 183 days ago on Mar 24. BAILEY VICKY A, the Director of the company, disposed of 2,440 shares for $5.09 on Mar 24. It resulted in a $12,420 divestment by the insider. Oliver Kirk R added 9,000 shares at an average price of $5.46 on Mar 16. The insider now owns 39,118 shares following the transaction. On Mar 14, Sr VP & General Counsel Moore Stephen M bought 8,500 shares at $5.86 apiece. The transaction was valued at $49,810.
Valuation Metrics
The stock’s beta is 1.94. Besides these, the trailing price-to-sales (P/S) ratio of 2.98, the price-to-book (PB) ratio of 4.36, and the price-to-cash flow ratio of 9.21 may also be considered.
The latest dividend of $0.15 per share was paid out, remained unchanged from last year’s $0.15. On Wednesday April 29 2020, a $0.30 dividend decrease was announced.
Financial Health
In the three months ended June 29, Equitrans Midstream Corporation’s quick ratio stood at 0.90, while its current ratio was 0.90, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 7.26, and the total debt-to-equity ratio was 7.26. On the profitability front, the trailing twelve-month gross margin is 87.10% percent. In the year ended June 29, EBITDA margin amounted to 79.15%, whereas operating margins totaled 8.50%. Based on annual data, ETRN earned $737.59 million in gross profit and brought in $1.36 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 1.60%. Return on equity (ROE) for the past 12 months was -34.90%.
In Equitrans Midstream Corporation’s quarter-end financial report for June 29, it reported total debt of $570.0 million. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. ETRN’s revenue fell -3.18% to $376.34 million during the quarter, while net income inched up to $318.47 million. While analysts expected Equitrans Midstream Corporation to report $0.11 quarterly earnings, the actual figure was $0.12 per share, beating the consensus estimate by 9.10%. During the quarter, the company generated $215.77 million in EBITDA. The liabilities of Equitrans Midstream Corporation were 9.31 billion at the end of its most recent quarter ended June 29, and its total debt was $6.91 billion. The value of shareholders’ equity is $433.26 million.
Technical Picture
This quick technical analysis looks at Equitrans Midstream Corporation’s (ETRN) price momentum. With a historical volatility rate of 28.40%, the RSI 9-day stood at 49.58% on 22 September.
With respect to its five-day moving average, the current Equitrans Midstream Corporation price is down by -0.63% percent or -$0.06. At present, ETRN shares trade -1.04% below its 20-day simple moving average and +89.29% percent above its 100-day simple moving average. However, the stock is currently trading approximately +5.53% above its SMA50 and +18.51% above its SMA200.
Stochastic coefficient K was 43.25% and Stochastic coefficient D was 52.74%, while ATR was 0.26. Given the Stochastic reading of 55.74% for the 14-day period, the RSI (14) reading has been calculated as 49.52%. As of today, the MACD Oscillator reading stands at -0.08, while the 14-day reading stands at -0.04.
Analyst Ratings
Morgan Stanley upgraded its rating on Equitrans Midstream Corporation (NYSE: ETRN) to an Overweight in a note to investors on June 05, 2023. The analysts firm previously had an Underweight rating on the stock.Equitrans Midstream Corporation (ETRN) has been rated Overweight by analysts. According to 0 brokerage firms, ETRN is a sell, and 6 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 1 analyst rate Equitrans Midstream Corporation stock as buy, with 4 recommending it as overweight.
With a median target price of $11.00, the current consensus forecast for the stock is $9.00 – $14.00. Based on these forecasts, analysts predict Equitrans Midstream Corporation (ETRN) will achieve an average price target of $11.22.
