Chickasaw Capital Management LLC Has $31.99 Million Position in Equitrans Midstream (ETRN)

Chickasaw Capital Management LLC lifted its holdings in Equitrans Midstream (NASDAQ:ETRN) by 2.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,468,635 shares of the company’s stock after purchasing an additional 31,955 shares during the quarter. Equitrans Midstream comprises about 0.8% of Chickasaw Capital Management LLC’s portfolio, making the stock its 20th biggest position. Chickasaw Capital Management LLC owned approximately 0.58% of Equitrans Midstream worth $31,987,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. United Services Automobile Association acquired a new stake in shares of Equitrans Midstream during the 4th quarter valued at about $633,000. Texas Permanent School Fund acquired a new position in shares of Equitrans Midstream during the 4th quarter worth approximately $2,665,000. California State Teachers Retirement System acquired a new position in shares of Equitrans Midstream during the 4th quarter worth approximately $6,930,000. Cutler Group LP acquired a new position in shares of Equitrans Midstream during the 4th quarter worth approximately $46,000. Finally, PNC Financial Services Group Inc. acquired a new position in shares of Equitrans Midstream during the 4th quarter worth approximately $14,759,000.

Shares of Equitrans Midstream stock traded down $0.09 during trading hours on Monday, reaching $21.21. 1,206,972 shares of the company were exchanged, compared to its average volume of 2,009,240. Equitrans Midstream has a 1 year low of $17.63 and a 1 year high of $23.47.

Equitrans Midstream (NASDAQ:ETRN) last issued its earnings results on Thursday, February 14th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.28. The firm had revenue of $384.79 million for the quarter, compared to analyst estimates of $380.20 million.

In related news, CFO Kirk R. Oliver acquired 4,950 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was bought at an average price of $20.25 per share, for a total transaction of $100,237.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Margaret K. Dorman acquired 5,250 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was bought at an average price of $20.18 per share, with a total value of $105,945.00. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 271,992 shares of company stock valued at $5,563,886.

Several brokerages have recently weighed in on ETRN. Zacks Investment Research cut Equitrans Midstream from a “hold” rating to a “sell” rating in a report on Thursday, February 14th. US Capital Advisors lowered shares of Equitrans Midstream from an “overweight” rating to a “hold” rating in a research report on Friday, January 4th. Finally, Barclays reaffirmed a “hold” rating and set a $21.00 price target on shares of Equitrans Midstream in a research report on Monday, March 11th. One 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. Equitrans Midstream presently has a consensus rating of “Hold” and an average price target of $23.83.

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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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