The stock price of Equitrans Midstream Corporation (NYSE: ETRN) has surged by 1.47 when compared to previous closing price of 11.58, but the company has seen a 6.24% gain in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-03-12 that EQT’s acquisition of Equitrans Midstream for $5.5 billion unveils the CEO’s vision for AI-driven growth.
Is It Worth Investing in Equitrans Midstream Corporation (NYSE: ETRN) Right Now?
Equitrans Midstream Corporation (NYSE: ETRN) has a price-to-earnings ratio that is above its average at 13.29x. The stock has a 36-month beta value of 1.98. Opinions on the stock are mixed, with 1 analysts rating it as a “buy,” 3 as “overweight,” 3 as “hold,” and 0 as “sell.”
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The public float for ETRN is 430.62M, and at present, short sellers hold a 2.30% of that float. On March 26, 2024, the average trading volume of ETRN was 5.77M shares.
ETRN’s Market Performance
ETRN stock saw an increase of 6.24% in the past week, with a monthly gain of 12.12% and a quarterly increase of 15.54%. The volatility ratio for the week is 1.89%, and the volatility levels for the last 30 days are 2.26% for Equitrans Midstream Corporation (ETRN). The simple moving average for the last 20 days is 6.59% for ETRN stock, with a simple moving average of 19.96% 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 “Underweight.” The predicted price for ETRN in the upcoming period, according to Wells Fargo is $10 based on the research report published on December 14, 2023 of the previous year 2023.
Goldman gave a rating of “Buy” to ETRN, setting the target price at $11.50 in the report published on October 06th of the previous year.
ETRN Trading at 10.35% 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 able to rebound, for now settling with 0.37% of gains for the given period.
Volatility was left at 2.26%, however, over the last 30 days, the volatility rate increased by 1.89%, as shares surge +12.55% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +9.40% upper at present.
During the last 5 trading sessions, ETRN rose by +6.24%, which changed the moving average for the period of 200-days by +23.68% in comparison to the 20-day moving average, which settled at $11.09. In addition, Equitrans Midstream Corporation saw 15.42% in overturn over a single year, with a tendency to cut further gains.
Stock Fundamentals for ETRN
Current profitability levels for the company are sitting at:
- 0.33 for the present operating margin
- 0.75 for the gross margin
The net margin for Equitrans Midstream Corporation stands at 0.32. The total capital return value is set at 0.04. Equity return is now at value 26.77, with 4.02 for asset returns.
Based on Equitrans Midstream Corporation (ETRN), the company’s capital structure generated 0.81 points at debt to capital in total, while cash flow to debt ratio is standing at 0.13. The debt to equity ratio resting at 4.4. The interest coverage ratio of the stock is 1.07.
Currently, EBITDA for the company is 1.21 billion with net debt to EBITDA at 7.08. When we switch over and look at the enterprise to sales, we see a ratio of 8.91. The receivables turnover for the company is 5.22for trailing twelve months and the total asset turnover is 0.12. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.76.
Conclusion
To sum up, Equitrans Midstream Corporation (ETRN) has seen a better performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
