Usca Ria LLC Buys Shares of 76,318 Equitrans Midstream (NASDAQ:ETRN)

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Usca Ria LLC bought a new stake in Equitrans Midstream (NASDAQ:ETRN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 76,318 shares of the company’s stock, valued at approximately $1,504,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Tortoise Capital Advisors L.L.C. lifted its holdings in Equitrans Midstream by 19.1% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 6,629,234 shares of the company’s stock valued at $144,385,000 after acquiring an additional 1,065,117 shares during the period. Iridian Asset Management LLC CT lifted its holdings in Equitrans Midstream by 8.9% in the second quarter. Iridian Asset Management LLC CT now owns 6,279,887 shares of the company’s stock valued at $123,777,000 after acquiring an additional 513,255 shares during the period. Wedge Capital Management L L P NC lifted its holdings in Equitrans Midstream by 32.6% in the first quarter. Wedge Capital Management L L P NC now owns 4,416,560 shares of the company’s stock valued at $96,193,000 after acquiring an additional 1,086,489 shares during the period. Neuberger Berman Group LLC lifted its holdings in Equitrans Midstream by 5.5% in the first quarter. Neuberger Berman Group LLC now owns 3,807,327 shares of the company’s stock valued at $82,856,000 after acquiring an additional 199,713 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Equitrans Midstream by 91.7% in the first quarter. The Manufacturers Life Insurance Company now owns 2,242,491 shares of the company’s stock valued at $48,841,000 after acquiring an additional 1,072,991 shares during the period.

ETRN has been the subject of a number of research analyst reports. UBS Group initiated coverage on Equitrans Midstream in a research report on Tuesday, August 6th. They issued a “neutral” rating and a $15.00 price target for the company. Royal Bank of Canada set a $19.00 price target on Equitrans Midstream and gave the company a “hold” rating in a research report on Wednesday, July 31st. Zacks Investment Research cut Equitrans Midstream from a “hold” rating to a “sell” rating in a research report on Monday, July 29th. Finally, Bank of America initiated coverage on Equitrans Midstream in a research report on Monday, June 17th. They issued a “neutral” rating and a $21.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. Equitrans Midstream presently has an average rating of “Hold” and a consensus target price of $22.11.

In related news, CFO Kirk R. Oliver acquired 13,700 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $16.10 per share, for a total transaction of $220,570.00. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Thomas F. Karam acquired 100,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were bought at an average price of $16.11 per share, with a total value of $1,611,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 121,450 shares of company stock valued at $1,956,423.

Shares of ETRN stock traded up $0.27 during mid-day trading on Friday, reaching $13.80. The stock had a trading volume of 1,996,300 shares, compared to its average volume of 2,046,619. Equitrans Midstream has a 12-month low of $12.94 and a 12-month high of $23.47. The business has a 50-day simple moving average of $17.27 and a 200 day simple moving average of $19.57.

Equitrans Midstream (NASDAQ:ETRN) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.18. The firm had revenue of $406.17 million during the quarter, compared to analysts’ expectations of $413.30 million.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Tuesday, August 13th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 13.04%. The ex-dividend date is Monday, August 12th.

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.

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

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