Insider Buying: Equitrans Midstream (NASDAQ:ETRN) CFO Purchases 13,700 Shares of Stock

Equitrans Midstream (NASDAQ:ETRN) CFO Kirk R. Oliver bought 13,700 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was purchased at an average cost of $16.10 per share, for a total transaction of $220,570.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

ETRN traded down $0.94 on Monday, reaching $15.35. The company had a trading volume of 2,839,440 shares, compared to its average volume of 1,983,573. Equitrans Midstream has a fifty-two week low of $15.19 and a fifty-two week high of $23.47. The firm’s fifty day simple moving average is $18.83.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Tuesday, August 13th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $1.80 dividend on an annualized basis and a yield of 11.73%.

A number of institutional investors and hedge funds have recently made changes to their positions in ETRN. Clean Yield Group acquired a new position in shares of Equitrans Midstream during the 1st quarter worth approximately $25,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Equitrans Midstream during the 2nd quarter worth approximately $25,000. Lindbrook Capital LLC acquired a new position in shares of Equitrans Midstream during the 1st quarter worth approximately $40,000. Macquarie Group Ltd. acquired a new position in shares of Equitrans Midstream during the 4th quarter worth approximately $62,000. Finally, Marshall Wace North America L.P. acquired a new position in shares of Equitrans Midstream during the 1st quarter worth approximately $72,000.

A number of research analysts recently commented on the stock. Royal Bank of Canada set a $19.00 price target on shares of Equitrans Midstream and gave the company a “hold” rating in a research note on Wednesday, July 31st. Zacks Investment Research lowered shares of Equitrans Midstream from a “hold” rating to a “sell” rating in a research note on Monday, July 29th. Finally, Bank of America assumed coverage on shares of Equitrans Midstream in a research note on Monday, June 17th. They issued a “neutral” rating and a $21.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Equitrans Midstream has an average rating of “Hold” and a consensus target price of $23.00.

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.

Further Reading: Quick Ratio

Insider Buying and Selling by Quarter for Equitrans Midstream (NASDAQ:ETRN)

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