Equitrans Midstream Corporation (NYSE: ETRN)’s stock price has decreased by -0.70 compared to its previous closing price of 12.80. However, the company has seen a 3.25% increase in its stock price over the last five trading sessions. Finbold reported 2024-04-01 that Thomas Carper, renowned for his bets against the US economy, has returned to the trading scene after nearly a month-long hiatus. He’s back in action with a substantial volume of trades made over the past few days.
Is It Worth Investing in Equitrans Midstream Corporation (NYSE: ETRN) Right Now?
The price-to-earnings ratio for Equitrans Midstream Corporation (NYSE: ETRN) is above average at 14.38x. The 36-month beta value for ETRN is also noteworthy at 2.00. There are mixed opinions on the stock, with 1 analysts rating it as a “buy,” 3 rating it as “overweight,” 3 rating it as “hold,” and 0 rating it as “sell.”
The public float for ETRN is 430.62M, and at present, short sellers hold a 2.18% of that float. The average trading volume of ETRN on April 15, 2024 was 6.72M shares.
ETRN’s Market Performance
The stock of Equitrans Midstream Corporation (ETRN) has seen a 3.25% increase in the past week, with a 12.08% rise in the past month, and a 18.34% gain in the past quarter. The volatility ratio for the week is 2.52%, and the volatility levels for the past 30 days are at 2.35% for ETRN. The simple moving average for the last 20 days is 5.77% for ETRN stock, with a simple moving average of 27.15% 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 14.08% 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 -2.08% of loss for the given period.
Volatility was left at 2.35%, however, over the last 30 days, the volatility rate increased by 2.52%, as shares surge +13.28% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +24.73% upper at present.
During the last 5 trading sessions, ETRN rose by +3.25%, which changed the moving average for the period of 200-days by +37.11% in comparison to the 20-day moving average, which settled at $12.09. In addition, Equitrans Midstream Corporation saw 24.85% 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 9.21. 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
In summary, Equitrans Midstream Corporation (ETRN) has had a better performance as of late. Analysts have mixed opinions on the stock, with some viewing 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.
