Equitrans Midstream Corporation (NYSE: ETRN) stock jumped 0.10% on Thursday to $9.55 against a previous-day closing price of $9.54. With 4.57 million shares changed hands, the volume of the stock remained lighter than its average volume of 5.42 million shares. During the session, the Oil & Gas Midstream company that operates in wider Energy sector, reached to the highest price of $9.81 whereas the lowest price it dropped to was $9.39. The 52-week range on ETRN shows that it touched its highest point at $10.48 and its lowest point at $4.60 during that stretch. It currently has a 1-year price target of $10.80. With its current market cap of 4.13 billion, ETRN has annualized dividend of $0.60 while the current yield stands at 6.28%. Beta for the stock currently stands at 1.96.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ETRN was up-trending over the past week, with a rise of 1.17%, but this was down by -0.42% over a month. Three-month performance surged to 2.69% while six-month performance rose 75.55%. A look at the trailing 12-month EPS for ETRN yields -0.76 with Next year EPS estimates of 0.86. For the next quarter, that number is 0.12. This implies an EPS growth rate of 77.70% for this year and 84.95% for next year. EPS is expected to grow by 2.60% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -28.50%.
Float and Shares Shorts:
At present, 433.96 million ETRN shares are outstanding with a float of 431.18 million shares on hand for trading. On Aug 30, 2023, short shares totaled 13.73 million, which was 3.17% higher than short shares on Jul 30, 2023. In addition to Mr. Thomas F. Karam as the firm’s Chairman & CEO, Ms. Diana M. Charletta serves as its Pres, COO & Director.
Through their ownership of 92.01% of ETRN’s outstanding shares, institutional investors have majority control over the company.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, ETRN reported revenue of $328.61M and operating income of $183.30M. The EBITDA in the recently reported quarter was $281.37M and diluted EPS was $0.11.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ETRN since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ETRN analysts setting a high price target of $14.00 and a low target of $9.00, the average target price over the next 12 months is $11.22. Based on these targets, ETRN could surge 46.6% to reach the target high and fall by -5.76% to reach the target low. Reaching the average price target will result in a growth of 17.49% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded ETRN stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 15 while that of sell transactions has risen to 15 over the past year. The total number of shares bought during that period was 859,416 while 241,540 shares were sold.