Equitrans Midstream Corporation (NYSE:ETRN) shares, rose in value, with the stock price down by -1.20% to the previous day’s close as strong demand from buyers drove the stock to $12.31.
Actively observing the price movement in the last trading, the stock closed the session at $12.46. The value of beta (5-year monthly) was 1.99 whereas the PE ratio was 13.93 over 12-month period. Referring to stock’s 52-week performance, its high was $12.76, and the low was $4.60. On the whole, ETRN has fluctuated by 10.90% over the past month.
With the market capitalization of Equitrans Midstream Corporation currently standing at about $5.34 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 30, 2024 – May 06, 2024. The company’s Forward Dividend Ratio is 0.60, with its dividend yield at 4.87%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.24, which is expected to increase to $0.21 for fiscal year $0.79 and then to about $0.96 by fiscal year 2025. Data indicates that the EPS growth is expected to be -13.20% in 2025, while the next year’s EPS growth is forecast to be 21.50%.
Analysts have estimated the company’s revenue for the quarter at $363.76 million, with a low estimate of $354.56 million and a high estimate of $373.69 million. According to the average forecast, sales growth in current quarter could jump down -3.30%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $1.51 billion, representing an increase of 8.60% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that ETRN’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 1.62, with the price of ETRN currently trading nearly 5.53% and 12.68% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 70.02, while the 7-day volatility ratio is showing 1.92% which for the 30-day chart, stands at 2.37%. Furthermore, Equitrans Midstream Corporation (ETRN)’s beta value is 2.00, and its average true range (ATR) is 0.27.
A comparison of Equitrans Midstream Corporation (ETRN) with its peers suggests the former has fared considerably weaker in the market. ETRN showed an intraday change of -1.20% in last session, and over the past year, it grew by 150.71%%.
Data on historical trading for Equitrans Midstream Corporation (NYSE:ETRN) indicates that the trading volumes over the past 10 days have averaged 8.2 million and over the past 3 months, they’ve averaged 6.49 million. According to company’s latest data on outstanding shares, there are 433.50 million shares outstanding.
Nearly 0.70% of Equitrans Midstream Corporation’s shares belong to company insiders and institutional investors own 88.11% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 9.81 million shares as on Mar 15, 2024, resulting in a short ratio of 1.12. According to the data, the short interest in Equitrans Midstream Corporation (ETRN) stood at 2.26% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 8.97 million. The stock has risen by 20.92% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ETRN stock heading into the next quarter.
