In a report issued on May 26, Spiro M. Dounis from Credit Suisse maintained a Buy rating on Equitrans Midstream (ETRN), with a price target of $10.00. The company’s shares closed last Tuesday at $9.84.
According to TipRanks.com, Dounis has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -6.3% and a 47.4% success rate. Dounis covers the Services sector, focusing on stocks such as Enterprise Products Partners, Dcp Midstream Partners, and NGL Energy Partners.
Equitrans Midstream has an analyst consensus of Moderate Buy, with a price target consensus of $10.50.
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Based on Equitrans Midstream’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $453 million and net profit of $69.73 million. In comparison, last year the company earned revenue of $390 million and had a net profit of $56.3 million.
Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ETRN in relation to earlier this year.
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Equitrans Midstream Corp. has a premier asset footprint in the Appalachian Basin and is one of the largest natural gas gatherers in the United States. It focuses on gas gathering systems, transmission and storage systems, and water services assets that support natural gas producers across the Basin. The company operates in the following segments: Gathering, Transmission and Water. The Gathering segments includes EQM’s high-pressure gathering lines and FERC-regulated low-pressure gathering lines. The Transmission segment includes EQM’s FERC-regulated interstate pipelines and storage system. The Water segment consists of EQM’s water pipelines, impoundment facilities, pumping stations, take point facilities and measurement facilities. Equitrans Midstream was founded on February 21, 2018 and is headquartered in Pittsburgh, PA.
