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Is a Correction Looming Ahead for Equitrans Midstream Corporation (ETRN)

Equitrans Midstream Corporation (NYSE:ETRN) went up by 1.86% from its latest closing price compared to the recent 1-year high of $11.52. The company’s stock price has collected -2.21% of loss in the last five trading sessions.

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ETRN currently public float of 431.01M and currently shorts hold a 3.67% ratio of that float. Today, the average trading volume of ETRN was 4.30M shares.

ETRN’s Market Performance

ETRN stocks went down by -2.21% for the week, with a monthly drop of -1.79% and a quarterly performance of 49.44%, while its annual performance rate touched -1.90%. The volatility ratio for the week stands at 4.52% while the volatility levels for the past 30 days are set at 3.75% for Equitrans Midstream Corporation. The simple moving average for the period of the last 20 days is -0.44% for ETRN stocks with a simple moving average of 12.28% for the last 200 days.

Analysts’ Opinion of ETRN

Many brokerage firms have already submitted their reports for ETRN stocks, with Wells Fargo repeating the rating for ETRN by listing it as a “Overweight.” The predicted price for ETRN in the upcoming period, according to Wells Fargo is $13 based on the research report published on August 10th of the current year 2022.

Goldman, on the other hand, stated in their research note that they expect to see ETRN reach a price target of $9. The rating they have provided for ETRN stocks is “Buy” according to the report published on March 04th, 2022.

Barclays gave a rating of “Equal Weight” to ETRN, setting the target price at $7 in the report published on March 02nd of the current year.

ETRN Trading at 7.12% from the 50-Day Moving Average

After a stumble in the market that brought ETRN to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -19.18% of loss for the given period.

Volatility was left at 3.75%, however, over the last 30 days, the volatility rate increased by 4.52%, as shares sank -4.71% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +38.34% upper at present.

During the last 5 trading sessions, ETRN fell by -2.21%, which changed the moving average for the period of 200-days by -5.29% in comparison to the 20-day moving average, which settled at $9.33. In addition, Equitrans Midstream Corporation saw -9.96% in overturn over a single year, with a tendency to cut further losses.

Stock Fundamentals for ETRN

Current profitability levels for the company are sitting at:

  • +52.37 for the present operating margin
  • +62.90 for the gross margin

The net margin for Equitrans Midstream Corporation stands at -104.82. Equity return is now at value -70.60, with -12.10 for asset returns.

The liquidity ratio also appears to be rather interesting for investors as it stands at 1.22.

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