QS Investors LLC bought a new stake in shares of Equitrans Midstream (NASDAQ:ETRN) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 18,749 shares of the company’s stock, valued at approximately $376,000.
Several other institutional investors have also modified their holdings of the company. Cohen & Steers Inc. purchased a new stake in Equitrans Midstream in the fourth quarter worth $1,184,000. Nomura Holdings Inc. purchased a new stake in shares of Equitrans Midstream in the 4th quarter worth $3,425,000. American International Group Inc. purchased a new stake in shares of Equitrans Midstream in the 4th quarter worth $8,304,000. Geode Capital Management LLC purchased a new stake in shares of Equitrans Midstream in the 4th quarter worth $36,356,000. Finally, Captrust Financial Advisors purchased a new stake in shares of Equitrans Midstream in the 4th quarter worth $138,000.
In related news, insider Thomas F. Karam bought 250,000 shares of the stock in a transaction dated Thursday, March 21st. The shares were purchased at an average price of $20.47 per share, for a total transaction of $5,117,500.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kirk R. Oliver bought 4,950 shares of the stock in a transaction dated 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 disclosure for this purchase can be found here. Insiders bought 271,992 shares of company stock worth $5,563,886 over the last three months.
Equitrans Midstream (NASDAQ:ETRN) last announced its earnings results on Thursday, February 14th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.28. The business had revenue of $384.79 million for the quarter, compared to analyst estimates of $380.20 million.
Several equities research analysts have weighed in on the company. Barclays reiterated a “hold” rating and issued a $21.00 target price on shares of Equitrans Midstream in a report on Monday, March 11th. Zacks Investment Research lowered Equitrans Midstream from a “hold” rating to a “sell” rating in a research report on Thursday, February 14th. Finally, US Capital Advisors lowered Equitrans Midstream from an “overweight” rating to a “hold” rating in a research report on Friday, January 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $23.83.
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Equitrans Midstream Company 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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