Mirae Asset Global Investments Co. Ltd. Has $50.88 Million Stock Holdings in Equitrans Midstream Co. (NYSE:ETRN)

Mirae Asset Global Investments Co. Ltd. boosted its position in Equitrans Midstream Co. (NYSE:ETRN) by 0.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,073,861 shares of the company’s stock after buying an additional 24,904 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Equitrans Midstream were worth $50,883,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Envestnet Asset Management Inc. increased its position in shares of Equitrans Midstream by 125.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 516,372 shares of the company’s stock worth $4,838,000 after purchasing an additional 287,176 shares during the last quarter. Mariner LLC increased its position in shares of Equitrans Midstream by 73.3% during the 3rd quarter. Mariner LLC now owns 55,630 shares of the company’s stock worth $521,000 after purchasing an additional 23,522 shares during the last quarter. Stifel Financial Corp increased its position in shares of Equitrans Midstream by 5.6% during the 3rd quarter. Stifel Financial Corp now owns 327,171 shares of the company’s stock worth $3,066,000 after purchasing an additional 17,312 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of Equitrans Midstream during the 3rd quarter worth approximately $2,555,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Equitrans Midstream by 124.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 42,113 shares of the company’s stock worth $395,000 after purchasing an additional 23,339 shares during the last quarter. Institutional investors and hedge funds own 87.35% of the company’s stock.

Equitrans Midstream Price Performance

Shares of NYSE:ETRN traded down $0.26 during trading on Friday, reaching $12.71. 2,577,223 shares of the company traded hands, compared to its average volume of 4,835,044. The company’s 50 day moving average is $13.65 and its two-hundred day moving average is $11.99. The firm has a market capitalization of $5.51 billion, a PE ratio of 14.13, a PEG ratio of 11.68 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 Co. has a 52 week low of $8.44 and a 52 week high of $14.64.

Equitrans Midstream (NYSE:ETRN) last released its earnings results on Tuesday, April 30th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The firm had revenue of $364.27 million during the quarter, compared to the consensus estimate of $345.79 million. Equitrans Midstream had a return on equity of 30.21% and a net margin of 31.69%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.22 EPS. As a group, sell-side analysts predict that Equitrans Midstream Co. will post 0.75 earnings per share for the current year.

Equitrans Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, May 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.72%. Equitrans Midstream’s dividend payout ratio (DPR) is currently 66.67%.

Wall Street Analysts Forecast Growth

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

Equitrans Midstream Profile

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.