Mutual of America Capital Management LLC Cuts Stock Holdings in Equitrans Midstream Co. (NYSE:ETRN)

Mutual of America Capital Management LLC trimmed its position in shares of Equitrans Midstream Co. (NYSE:ETRN) by 3.5% during the first quarter, Holdings Channel.com reports. The fund owned 258,150 shares of the company’s stock after selling 9,322 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Equitrans Midstream were worth $3,224,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Metis Global Partners LLC boosted its holdings in Equitrans Midstream by 8.0% during the 4th quarter. Metis Global Partners LLC now owns 16,868 shares of the company’s stock worth $172,000 after acquiring an additional 1,247 shares during the last quarter. Retirement Systems of Alabama raised its stake in shares of Equitrans Midstream by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 544,067 shares of the company’s stock worth $6,795,000 after purchasing an additional 1,430 shares during the period. Hexagon Capital Partners LLC raised its stake in shares of Equitrans Midstream by 25.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 7,187 shares of the company’s stock worth $90,000 after purchasing an additional 1,471 shares during the period. Donoghue Forlines LLC raised its stake in shares of Equitrans Midstream by 3.9% during the 4th quarter. Donoghue Forlines LLC now owns 43,216 shares of the company’s stock worth $440,000 after purchasing an additional 1,626 shares during the period. Finally, Advisory Services Network LLC raised its stake in shares of Equitrans Midstream by 10.8% during the 4th quarter. Advisory Services Network LLC now owns 17,254 shares of the company’s stock worth $176,000 after purchasing an additional 1,682 shares during the period. 87.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ETRN. Wells Fargo & Company lifted their target price on Equitrans Midstream from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Morgan Stanley boosted their price objective on Equitrans Midstream from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Finally, US Capital Advisors cut Equitrans Midstream from an “overweight” rating to a “hold” rating in a research note on Monday, April 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $13.10.

Equitrans Midstream Trading Up 1.5 %

Shares of ETRN opened at $13.03 on Friday. The business’s 50-day moving average price is $13.60 and its 200-day moving average price is $12.07. Equitrans Midstream Co. has a twelve month low of $8.57 and a twelve month high of $14.64. The stock has a market cap of $5.65 billion, a PE ratio of 14.47, a P/E/G ratio of 11.56 and a beta of 2.01. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 4.88.

Equitrans Midstream (NYSE:ETRN) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03. Equitrans Midstream had a return on equity of 30.21% and a net margin of 31.69%. The firm had revenue of $364.27 million for the quarter, compared to analysts’ expectations of $345.79 million. During the same period in the prior year, the business posted $0.22 earnings per share. The company’s revenue was down 3.2% on a year-over-year basis. On average, equities analysts forecast that Equitrans Midstream Co. will post 0.75 EPS for the current fiscal year.

Equitrans Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.61%. The ex-dividend date was Monday, May 6th. Equitrans Midstream’s dividend payout ratio is presently 66.67%.

About Equitrans Midstream

Equitrans Midstream Corporation owns, operates, acquires, and develops midstream assets in the Appalachian Basin. The company operates through Gathering, Transmission, and Water segments. It operates dry gas gathering systems of high-pressure gathering lines and FERC-regulated interstate pipelines and storage systems.