Equitrans Midstream (ETRN) Shares Sold by Fiduciary Trust Co.

Fiduciary Trust Co. lessened its position in shares of Equitrans Midstream (NASDAQ:ETRN) by 13.9% during the 1st quarter, Holdings Channel reports. The firm owned 23,992 shares of the company’s stock after selling 3,875 shares during the quarter. Fiduciary Trust Co.’s holdings in Equitrans Midstream were worth $523,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Clean Yield Group purchased a new stake in Equitrans Midstream during the 1st quarter valued at about $25,000. Canton Hathaway LLC purchased a new stake in Equitrans Midstream during the 4th quarter valued at about $26,000. JFS Wealth Advisors LLC purchased a new stake in Equitrans Midstream during the 4th quarter valued at about $30,000. Lindbrook Capital LLC acquired a new position in shares of Equitrans Midstream in the 1st quarter valued at about $40,000. Finally, Caption Management LLC acquired a new position in shares of Equitrans Midstream in the 4th quarter valued at about $40,000.

ETRN has been the subject of several analyst reports. Zacks Investment Research cut Equitrans Midstream from a “hold” rating to a “sell” rating in a report on Thursday, February 14th. Barclays reissued a “hold” rating and issued a $21.00 price objective on shares of Equitrans Midstream in a report on Monday, March 11th. Finally, Royal Bank of Canada initiated coverage on Equitrans Midstream in a report on Thursday, April 18th. They issued a “sector perform” rating and a $23.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $23.71.

In other Equitrans Midstream news, CFO Kirk R. Oliver purchased 4,950 shares of Equitrans Midstream stock in a transaction that occurred on Monday, March 25th. The stock was bought at an average price of $20.25 per share, with a total value of $100,237.50. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David L. Porges sold 4,866 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $20.59, for a total value of $100,190.94. The disclosure for this sale can be found here. In the last three months, insiders bought 271,992 shares of company stock valued at $5,563,886.

Shares of ETRN stock opened at $21.51 on Wednesday. Equitrans Midstream has a 52-week low of $17.63 and a 52-week high of $23.47.

Equitrans Midstream (NASDAQ:ETRN) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.28). The firm had revenue of $389.78 million during the quarter, compared to analyst estimates of $397.10 million.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Tuesday, May 14th will be issued a $0.45 dividend. The ex-dividend date is Monday, May 13th. This represents a $1.80 annualized dividend and a dividend yield of 8.37%.

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About Equitrans Midstream

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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