Equitrans Midstream Corporation (ETRN) gets rating Upgrade from Morgan Stanley


Equitrans Midstream Corporation’s recent filing unveils that its Director BAILEY VICKY A unloaded Company’s shares for reported $12420.0 on Mar 24. In the deal valued at $5.09 per share,2,440 shares were sold. As a result of this transaction, BAILEY VICKY A now holds 0 shares worth roughly $ 0.0.

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Then, Oliver Kirk R bought 9,000 shares, generating $49,140 in total proceeds. Upon buying the shares at $5.46, the Sr VP & CFO now owns 39,118 shares.

Before that, Moore Stephen M bought 8,500 shares. Equitrans Midstream Corporation shares valued at $49,810 were divested by the Sr VP & General Counsel at a price of $5.86 per share. As a result of the transaction, Moore Stephen M now holds 188,916 shares, worth roughly $1.85 million.

Morgan Stanley upgraded its Equitrans Midstream Corporation [ETRN] rating to an Overweight from a an Underweight in a research note published on Friday, June 05, 2023; the price target was increased to $14 from $7. PT values the company’s stock at a premium of 30.0 to its Friday closing price.

Price Performance Review of ETRN

On Friday, Equitrans Midstream Corporation [NYSE:ETRN] saw its stock jump 2.08% to $9.80. On the same session, the stock had its day’s lowest price of $9.65, but rose to a high of $9.835. Over the last five days, the stock has gained 1.55%. Equitrans Midstream Corporation shares have risen nearly 46.27% since the year began. Nevertheless, the stocks have risen 5.72% over the past one year. While a 52-week high of $10.48 was reached on 07/28/23, a 52-week low of $4.60 was recorded on 04/20/23. SMA at 50 days reached $9.53, while 200 days put it at $7.36. A total of 2.44 million shares were traded, compared to the trading of 3.45 million shares in the previous session.

Levels Of Support And Resistance For ETRN Stock

The 24-hour chart illustrates a support level at 9.69, which if violated will result in even more drops to 9.58. On the upside, there is a resistance level at 9.87. A further resistance level may holdings at 9.95. The Relative Strength Index (RSI) on the 14-day chart is 56.04, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.02, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 10.14%. Stochastics %K at 69.07% indicates the stock is a holding.

How much short interest is there in Equitrans Midstream Corporation?

A steep rise in short interest was recorded in Equitrans Midstream Corporation stocks on Aug 14, 2023, growing by 3.28 million shares to a total of 14.84 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 11.56 million shares. There was a rise of 22.1%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 5.29% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.28.

Equitrans Midstream Corporation [ETRN] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 47,919,093 shares, or roughly 11.06% of the outstanding ETRN shares. In other words, the investor’s shares have fallen by -59,112 from its previous 13-F filing of 47978205.0. Additionally, The Vanguard Group, Inc. decreased -4.22% of its stake after which the total value it holdings stand at $462,312,789, while Capital Research & Management Co reduced -12.93% of its stake to hold $438.91 million in the firm. Over the last quarter, SSgA Funds Management, Inc. sold -124,481 shares of Equitrans Midstream Corporation, while Brookfield Public Securities Grou sold -238,521 shares. At present, Zimmer Partners LP is holding 11,200,000 shares valued at $116.14 million. Geode Capital Management LLC owned 8,674,182 shares of the company at the time of its most recent 13F filing, worth $89.95 million.

According to FactSet, Equitrans Midstream Corporation’s share price will average $11.30 in the next year, based on opinions of analysts polled by the firm. This is up nearly 14.58 percent from its previous closing price of $9.60. Analysts expect Equitrans Midstream Corporation stock to reach the higher price of $14.00, while the lowest price estimate is $9.00. However, 13 analysts have rated ETRN stock as an Overweight in their predictions for 2023.


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