Rockefeller Capital Management L.P. Invests $319,000 in Equitrans Midstream (NASDAQ:ETRN)

Rockefeller Capital Management L.P. bought a new position in Equitrans Midstream (NASDAQ:ETRN) during the 1st quarter, HoldingsChannel reports. The fund bought 14,667 shares of the company’s stock, valued at approximately $319,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Equitrans Midstream in the fourth quarter worth approximately $393,060,000. D. E. Shaw & Co. Inc. bought a new position in shares of Equitrans Midstream in the fourth quarter worth approximately $209,974,000. Iridian Asset Management LLC CT bought a new position in shares of Equitrans Midstream in the fourth quarter worth approximately $119,657,000. Tortoise Capital Advisors L.L.C. bought a new position in shares of Equitrans Midstream in the fourth quarter worth approximately $111,394,000. Finally, Energy Income Partners LLC bought a new position in shares of Equitrans Midstream in the fourth quarter worth approximately $102,908,000.

In other Equitrans Midstream news, insider Thomas F. Karam bought 250,000 shares of Equitrans Midstream stock in a transaction on Thursday, March 21st. The stock was acquired at an average cost of $20.47 per share, with a total value of $5,117,500.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David L. Porges sold 4,866 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $20.59, for a total transaction of $100,190.94. The disclosure for this sale can be found here. Insiders have bought 271,992 shares of company stock valued at $5,563,886 over the last three months.

ETRN has been the subject of several research reports. Barclays reissued a “hold” rating and set a $21.00 price objective on shares of Equitrans Midstream in a report on Monday, March 11th. Zacks Investment Research cut shares of Equitrans Midstream from a “hold” rating to a “sell” rating in a report on Thursday, February 14th. Finally, Royal Bank of Canada initiated coverage on shares of Equitrans Midstream in a report on Thursday, April 18th. They set a “sector perform” rating and a $23.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Equitrans Midstream currently has an average rating of “Buy” and an average target price of $23.86.

Shares of ETRN traded up $0.08 during mid-day trading on Wednesday, hitting $19.73. 12,057 shares of the company traded hands, compared to its average volume of 1,779,395. Equitrans Midstream has a 1 year low of $17.63 and a 1 year high of $23.47.

Equitrans Midstream (NASDAQ:ETRN) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.28). The firm had revenue of $389.78 million for the quarter, compared to analysts’ expectations of $397.10 million.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Tuesday, May 14th were issued a dividend of $0.45 per share. The ex-dividend date was Monday, May 13th. This represents a $1.80 annualized dividend and a dividend yield of 9.12%.

WARNING: This piece of content was reported by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this piece of content on another site, it was illegally copied and reposted in violation of US and international copyright & trademark law. The legal version of this piece of content can be read at https://www.chaffeybreeze.com/2019/06/12/rockefeller-capital-management-l-p-invests-319000-in-equitrans-midstream-nasdaqetrn.html.

Equitrans Midstream Profile

Equitrans Midstream Corp. is a wholly-owned subsidiary of EQT. It doesn’t have business operations. The company was founded on February 21, 2018 and is headquartered in Canonsburg, PA.

See Also: Growth Stocks, What They Are, What They Are Not

Want to see what other hedge funds are holding ETRN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equitrans Midstream (NASDAQ:ETRN).

Institutional Ownership by Quarter for Equitrans Midstream (NASDAQ:ETRN)

Receive News & Ratings for Equitrans Midstream Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equitrans Midstream and related companies with MarketBeat.com's FREE daily email newsletter.