Oppenheimer Asset Management Inc. boosted its position in shares of Equitrans Midstream (NASDAQ:ETRN) by 14.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,389 shares of the company’s stock after buying an additional 1,597 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Equitrans Midstream were worth $244,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC acquired a new position in Equitrans Midstream during the 2nd quarter worth $25,000. Marshall Wace North America L.P. bought a new stake in shares of Equitrans Midstream during the 1st quarter valued at $72,000. Machina Capital S.A.S. bought a new stake in shares of Equitrans Midstream during the 2nd quarter valued at $80,000. BNP Paribas Arbitrage SA bought a new stake in shares of Equitrans Midstream during the 2nd quarter valued at $104,000. Finally, Certified Advisory Corp bought a new stake in shares of Equitrans Midstream during the 1st quarter valued at $151,000.
Several brokerages have commented on ETRN. UBS Group began coverage on shares of Equitrans Midstream in a research report on Tuesday, August 6th. They set a “neutral” rating and a $15.00 target price for the company. Royal Bank of Canada set a $19.00 target price on shares of Equitrans Midstream and gave the company a “hold” rating in a research report on Wednesday, July 31st. Bank of America began coverage on shares of Equitrans Midstream in a research report on Monday, June 17th. They set a “neutral” rating and a $21.00 target price for the company. Finally, Zacks Investment Research cut shares of Equitrans Midstream from a “hold” rating to a “sell” rating in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $22.11.
Equitrans Midstream (NASDAQ:ETRN) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.18. The firm had revenue of $406.17 million during the quarter, compared to the consensus estimate of $413.30 million.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Tuesday, August 13th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 13.38%. The ex-dividend date was Monday, August 12th.
In other news, Chairman Thomas F. Karam bought 100,000 shares of the stock in a transaction on Thursday, August 1st. The stock was purchased at an average price of $16.11 per share, for a total transaction of $1,611,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kirk R. Oliver bought 13,700 shares of the stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $16.10 per share, with a total value of $220,570.00. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 121,450 shares of company stock valued at $1,956,423.
Equitrans Midstream Company 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.
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