Equitrans Midstream Corporation (NYSE:ETRN) is reporting third quarter earnings results on Tuesday 3rd November 2020, before market open.
The consensus estimates from Thomson Reuters are income of $ 0.32 per share.
For the full year, analysts predict revenues of $ 1512.02 million, while looking forward to income of $ 1.34 per share.
Previous Quarter Performance
Equitrans Midstream Corporation unwinded income for the second quarter of $ 0.22 per share, from the revenue of $ 340.59 million. The quarterly earnings contracted 62.07 percent while revenues down 16.15 percent compared with the same quarter last year.
Wall street analysts are predicting, ETRN to report 2Q20 income of $ 0.37 per share from revenue of $ 352.44 million. The bottom line results missed street analysts by $ 0.15 or 40.54 percent, at the same time, top line results fell short of analysts by $ 11.85 million or 3.36 percent.
Stock Performance
Shares of Equitrans Midstream Corporation traded up $ 0.06 or 0.84 percent on Monday, reaching $ 7.17 with volume of 3.22 million shares. Equitrans Midstream Corporation has traded high as $ 7.25 and has cracked $ 6.90 on the downward trend
The closing price of $ 7.17, representing a 89.60 % increase from the 52 week low of $ 3.75 and a 51.47 % decrease over the 52 week high of $ 14.65.
The company has a market capital of $ 3.10 billion and is part of the Energy sector and Oil & Gas Midstream industry.
Recent Analyst recommendations
- On 29th September 2020, initiated by Morgan Stanley at Equal-Weight rating.
- On 25th September 2020, initiated by Morgan Stanley at Equal-Weight rating, with $ 10.00 target price.
Recent Stock Dividend Announcement
On October 16, 2020, the board of directors authorized quarterly dividend of $ 0.15 per share to holders of record as of the close of business on November 3, 2020, with payment date of November 13, 2020 and ex-dividend date on November 2, 2020.
Conference Call
Equitrans Midstream Corporation will be hosting a conference call at 10:30 AM eastern time on 3rd November 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.equitransmidstream.com
Equitrans Midstream Corporation owns, operates, acquires, and develops natural gas gathering, transmission and storage, and water services assets in the Appalachian Basin. It operates through three segments: Gathering System, Transmission and Storage System, and Water System. The Gathering System segment include 700 miles of high-pressure gathering lines with compression of approximately 333,000 horsepower and multiple interconnect points; and approximately 1,500 miles of Federal Energy Regulatory Commission (FERC) low-pressure gathering lines.
