ETRN - Equitrans Midstream Stock

Market Summary

USD9.47-0.05

Market Closedas of 26 Sep 2023, 09:32 am

-0.53%

ETRN Stock Price

ETRN RSI Chart

ETRN Valuation

Market Cap

4.1B

Price/Earnings (Trailing)

-15.45

Price/Sales (Trailing)

2.98

EV/EBITDA

-9.95

Price/Free Cashflow

9.24

ETRN Price/Sales (Trailing)

ETRN Profitability

EBT Margin

-19.25%

Return on Equity

-28.96%

Return on Assets

-2.63%

Free Cashflow Yield

10.83%

ETRN Fundamentals

ETRN Revenue

Revenue (TTM)

1.4B

Revenue Y/Y

-3.09%

Revenue Q/Q

-15.38%

ETRN Earnings

Earnings (TTM)

-267.0M

Earnings Y/Y

10.62%

Earnings Q/Q

-33.87%

Price Action

52 Week Range

4.4610.48

(Low)(High)

Last 7 days

-0.2%

Last 30 days

-1.3%

Last 90 days

2.7%

Trailing 12 Months

25.7%

ETRN Financial Health

Current Ratio

1.03

ETRN Investor Care

Dividend Yield

6.3%

Dividend/Share (TTM)

0.6

Buy Backs (1Y)

0.02%

Diluted EPS (TTM)

-0.76

Historical Charts for Stock Metrics

Get all data in R, Python etc through our Historical Stock Data APIs

Net sales

Get all data in R, Python etc through our Historical Stock Data APIs

Latest Insider Trading transactions for ETRN

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-24	BAILEY VICKY A	sold	-12,419	5.09	-2,440	-
2023-03-21	KARAM THOMAS F	gifted	-	-	-100,000	chairman and ceo
2023-03-16	Oliver Kirk R	bought	49,140	5.46	9,000	sr vp & cfo
2023-03-14	Moore Stephen M	bought	49,810	5.86	8,500	sr vp & general counsel
2023-02-27	Oliver Kirk R	sold (taxes)	-14,798	6.11	-2,422	sr vp & cfo
2023-02-27	Pietrandrea Brian P.	acquired	179,254	6.20407	28,893	vp and cao
2023-02-27	Charletta Diana M	acquired	1,466	6.11	240	president and coo
2023-02-27	Moore Stephen M	acquired	578,001	6.20333	93,176	sr vp & general counsel
2023-02-27	Pietrandrea Brian P.	sold (taxes)	-3,195	6.11	-523	vp and cao
2023-02-27	Oliver Kirk R	acquired	717,003	6.20406	115,570	sr vp & cfo

Which funds bought or sold ETRN recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-09-21	Jefferies Group LLC	new	-	94,816	94,816	-%
2023-09-20	BARCLAYS PLC	reduced	-39.11	133,000	18,783,000	0.01%
2023-09-12	Farther Finance Advisors, LLC	unchanged	-	1,104	2,792	-%
2023-09-11	BLUEFIN CAPITAL MANAGEMENT, LLC	new	-	6,668,120	6,668,120	1.27%
2023-08-23	WOLVERINE TRADING, LLC	added	143	450,191	587,191	-%
2023-08-22	COMERICA BANK	new	-	4,000	4,000	-%
2023-08-21	BOKF, NA	sold off	-100	-10,780	-	-%
2023-08-21	OSAIC HOLDINGS, INC.	added	183	836,332	1,062,030	-%
2023-08-21	TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY	added	11.09	311,000	682,000	0.01%
2023-08-21	CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM	added	2.44	2,078,910	5,073,230	0.01%

Latest Funds Activity

Are funds buying ETRN calls or puts?

Calls

Puts

No. of funds holding Calls - Puts

Net Call Options

No. of funds that own ETRN

No. of Funds

Schedule 13G FIlings of Equitrans Midstream

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	price t rowe associates inc /md/	7.2%	31,316,116	SC 13G/A
Feb 13, 2023	capital international investors	12.2%	53,000,392	SC 13G/A
Feb 09, 2023	vanguard group inc	10.71%	46,363,990	SC 13G/A
Jan 26, 2023	blackrock inc.	12.0%	51,729,117	SC 13G/A
Jan 20, 2023	blackrock inc.	12.0%	51,729,117	SC 13G
Jul 11, 2022	vanguard group inc	10.00%	43,276,434	SC 13G/A
Apr 28, 2022	eqt corp	0%	0	SC 13G/A
Feb 14, 2022	price t rowe associates inc /md/	5.0%	21,697,668	SC 13G
Feb 11, 2022	capital international investors	11.7%	50,477,217	SC 13G/A
Feb 04, 2022	eqt corp	5.3%	22,796,026	SC 13G/A

Recent SEC filings of Equitrans Midstream

View All Filings

Date Filed	Form Type	Document
Sep 07, 2023	8-K	Current Report
Aug 24, 2023	8-K	Current Report
Aug 24, 2023	UPLOAD	UPLOAD
Aug 17, 2023	CORRESP	CORRESP
Aug 04, 2023	UPLOAD	UPLOAD
Aug 01, 2023	8-K	Current Report
Aug 01, 2023	10-Q	Quarterly Report
Jul 11, 2023	8-K	Current Report
Jul 07, 2023	S-3ASR	S-3ASR
Jun 22, 2023	11-K	Employee Benefit Details

Peers (Alternatives to Equitrans Midstream)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
CQP	-	14.5B	12.11%	14.39%	-	-	11.12%	227.86%
WMB	41.4B	11.5B	-2.05%	16.50%	15.57	3.59	7.16%	69.50%
ET	40.6B	80.8B	6.46%	39.03%	8.97	1.48	-1.23%	0.82%
KMI	37.3B	17.1B	-3.40%	2.92%	14.87	2.18	-3.10%	3.16%
OKE	29.8B	19.2B	2.45%	28.12%	12.24	1.55	-10.28%	54.38%
MID-CAP
NFE	6.5B	2.4B	9.82%	-26.71%	16.35	2.68	18.38%	86.75%
ENLC	4.7B	8.0B	2.92%	50.89%	12.19	0.52	-9.16%	99.38%
ETRN	4.1B	1.4B	-1.35%	25.66%	-15.45	2.98	9.71%	80.43%
DKL	2.0B	1.1B	4.45%	-9.47%	13.01	1.9	42.53%	-0.22%
DCP	-	11.9B	0.51%	28.75%	-	-	-14.57%	7.44%
SMALL-CAP
NS	1.9B	308.0M	6.99%	35.60%	8.53	8.41	145.69%	7305.10%
SMLP	-	384.8M	-3.11%	-1.48%	-	-	-2.94%	38.53%
VTNR	425.2M	3.1B	12.04%	-20.56%	10.87	0.14	156.21%	157.73%

Equitrans Midstream News

Returns for ETRN

Cumulative Returns on ETRN

12%

3-Year Cumulative Returns

Risks for ETRN

What is the probability of a big loss on ETRN?

83.8%

Probability that Equitrans Midstream stock will be more than 20% underwater in next one year

75.7%

Probability that Equitrans Midstream stock will be more than 30% underwater in next one year.

68.3%

Probability that Equitrans Midstream stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does ETRN drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Equitrans Midstream was unfortunately bought at previous high price.

Drawdowns

Financials for Equitrans Midstream

Income Statement (Last 12 Months)

Income Statement (Last 12 Months)
Description	(%) Q/Q	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1	2018Q4	2018Q3	2018Q2
Revenue	-0.7%	1,381,796,000	1,391,938,000	1,357,747,000	1,249,180,000	1,259,503,000	1,279,187,000	1,317,037,000	1,437,487,000	1,445,413,000	1,437,708,000	1,510,825,000	1,569,562,000	1,627,996,000	1,693,573,000	1,630,242,000	1,589,174,000	1,545,324,000	1,513,854,000	1,495,098,000	1,402,685,000	1,244,394,000
S&GA Expenses	21.0%	160,891,000	132,968,000	128,472,000	124,594,000	124,806,000	131,279,000	137,056,000	140,319,000	138,385,000	135,724,000	129,969,000	123,548,000	116,073,000	110,476,000	112,915,000	124,510,000	127,739,000	128,775,000	123,810,000	108,876,000	100,798,000
EBITDA	100.0%	-	-399,622,000	-372,832,000	-2,454,394,000	-1,781,043,000	-1,804,681,000	-1,819,285,000	332,864,000	415,079,000	562,802,000	695,608,000	218,641,000	-24,286,000	-61,371,000	-43,086,000	-	-	-	-	-	-
EBITDA Margin	100.0%	-	-0.29	-0.27	-1.96	-1.41	-1.41	-1.38	0.23	0.29	0.39	0.46	0.14	-0.01	-0.04	-0.03	-	-	-	-	-	-
Interest Expenses	-2.1%	-414,696,000	-406,169,000	-394,333,000	-383,086,000	-376,102,000	-376,627,000	-378,650,000	-372,307,000	-364,617,000	-335,770,000	-307,380,000	-287,887,000	-267,082,000	-262,000,000	-256,195,000	-231,900,000	-193,574,666	-	-115,454,000	-78,779,000	-52,127,000
Earnings Before Taxes	0.7%	-266,055,000	-268,009,000	-250,694,000	-2,341,030,000	-1,716,759,000	-1,732,448,000	-1,740,643,000	422,287,000	498,194,000	624,177,000	736,577,000	254,623,000	-1,797,000	-37,572,000	-14,255,000	236,133,000	494,566,000	579,482,000	594,419,000	788,895,000	727,737,000
EBT Margin	100.0%	-	-0.19	-0.18	-1.87	-1.33	-1.33	-1.30	0.30	0.35	0.44	0.49	0.16	0.00	-0.02	-0.01	-	-	-	-	-	-
Net Income	2.4%	-266,979,000	-273,433,000	-269,342,000	-1,956,077,000	-1,364,439,000	-1,388,828,000	-1,411,820,000	312,113,000	390,806,000	410,898,000	528,332,000	141,782,000	-88,509,000	-70,482,000	-203,743,000	16,772,000	165,422,000	191,968,000	218,398,000	139,496,000	90,005,000
Net Income Margin	100.0%	-	-0.20	-0.20	-1.57	-1.05	-1.06	-1.05	0.22	0.27	0.29	0.27	0.01	-0.13	-0.11	-0.12	-	-	-	-	-	-
Free Cashflow	-100.0%	-	503,533,000	469,114,000	737,006,000	770,272,000	824,621,000	878,247,000	843,204,000	836,762,000	750,231,000	678,855,000	535,189,000	671,513,000	735,965,000	9,118,000	-	-	-	-	-	-

Balance Sheet
(In Millions)

(*) denotes actual numbers (not divided by Millions)
Balance Sheet																					(In Millions)
Description	(%) Q/Q	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1	2018Q4	2018Q3	2017Q4
Assets	3.2%	10,727	10,399	10,446	10,335	10,909	10,776	10,883	12,858	12,798	12,781	12,719	12,631	12,445	12,190	12,042	12,576	12,436	10,275	10,524	9,943	8,329
Current Assets	29.4%	416	321	390	332	392	326	447	486	551	572	562	533	503	368	375	422	333	311	569	420	355
Cash Equivalents	104.0%	107	52.00	68.00	48.00	115	42.00	135	194	243	232	208	183	202	76.00	88.00	154	26.00	79.00	294	184	121
Net PPE	0.1%	7,911	7,901	7,884	7,859	7,822	7,784	7,788	7,773	7,762	7,816	7,828	7,839	7,807	7,751	7,724	7,614	7,380	6,008	5,868	5,620	5,111
Goodwill	0%	487	487	487	487	487	487	487	487	487	487	487	487	487	-	487	-	1,347	108	1,239	1,385	1,385
Liabilities	4.0%	8,627	8,297	8,365	8,262	8,241	8,098	8,228	8,525	8,477	8,425	8,363	8,309	8,228	7,145	6,760	6,635	6,191	5,598	5,264	4,467	2,090
Current Liabilities	47.6%	462	313	413	541	300	208	368	318	373	575	595	672	403	293	336	558	694	393	549	958	606
LT Debt, Current	-100.0%	-	99.00	99.00	99.00	-	-	-	-	-	310	303	303	-	-	6.00	6.00	6.00	6.00	6.00	-	-
Shareholder's Equity	-32.9%	952	1,420	919	913	1,985	1,996	1,972	3,172	3,163	3,202	3,676	3,640	3,548	5,044	5,282	5,941	6,245	4,677	5,260	5,475	6,239
Retained Earnings	-0.5%	-3,047	-3,031	-3,053	-3,054	-2,468	-2,449	-2,464	-778	-784	-741	-728	-781	-866	-858	-618	-234	-53.79	-13.70	34.00	-	-
Accumulated Depreciation	4.4%	1,618	1,550	1,481	1,412	1,344	1,278	1,217	1,156	1,090	1,076	1,008	944	883	823	859	825	785	651	602	519	406
Shares Outstanding	0.0%	433	433	433	433	433	433	433	433	433	433	432	433	261	249	255	255	255	255	254	254	254
Minority Interest	-	-	-	479	-	-	-	483	-	-	-	471	-	-	-	4,609	-	-	-	4,802	-	5,095

Cashflow (Last 12 Months)
(In Millions)

(*) denotes actual numbers (not divided by Millions)
Cashflow (Last 12 Months)																					(In Millions)
Description	(%) Q/Q	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1	2018Q4	2018Q3	2018Q2
Cashflow From Operations	-5.9%	832	885	846	1,093	1,094	1,125	1,169	1,139	1,160	1,121	1,141	1,110	1,147	1,104	976	711	695	549	722	891	852
Share Based Compensation	131.9%	33.00	14.00	16.00	15.00	14.00	13.00	13.00	14.00	14.00	12.00	12.00	10.00	7.00	6.00	3.00	5.00	6.00	5.00	4.00	1.00	1.00
Cashflow From Investing	-0.2%	-534	-533	-567	-614	-632	-644	-572	-597	-596	-604	-729	-976	-1,289	-2,418	-2,574	-2,835	-2,852	-1,852	-1,785	-1,277	-1,032
Cashflow From Financing	10.4%	-305	-340	-345	-625	-588	-670	-669	-529	-522	-360	-291	-105	320	1,312	1,392	2,094	336	1,216	1,237	304	2,288
Dividend Payments	0.0%	260	260	260	260	260	260	259	259	259	229	278	328	378	458	448	333	219	104	-	-	-
Buy Backs	-	-	-	-	-	-	-	-	-	-	-138	52.00	52.00	52.00	-47.46	-	-	-	954	-	-	-

ETRN Income Statement

2023-06-30

Statements of Consolidated Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2023

Jun. 30, 2022

^[1]

Jun. 30, 2023

Jun. 30, 2022

Income Statement [Abstract]

Operating revenues

$ 318,469

$ 328,611

$ 694,806

$ 670,757

^[1]

Operating expenses:

Operating and maintenance

45,767

32,442

88,629

65,523

^[1]

Selling, general and administrative

56,932

29,009

89,554

58,726

^[1]

Depreciation

70,031

67,657

139,435

134,700

^[1],[2]

Amortization of intangible assets

16,205

32,410

^[1],[2]

Total operating expenses

188,935

145,313

350,028

291,359

^[1]

Operating income

129,534

183,298

344,778

379,398

^[1]

Equity income

^[3]

23,686

39

23,808

^[4]

43

^[1],[2],[4]

Other income, net

19,809

4,148

11,707

5,659

^[1]

Loss on extinguishment of debt

0

(24,937)

0

(24,937)

^[2]

Net interest expense

(103,644)

(95,117)

(208,601)

(188,238)

^[1]

Income before income taxes

69,385

67,431

171,692

171,925

^[1]

Income tax expense (benefit)

465

2,692

(3,319)

8,293

^[1]

Net income

68,920

64,739

175,011

163,632

^[1],[2]

Net income attributable to noncontrolling interest

1,675

3,948

6,084

7,723

^[1]

Net income attributable to Equitrans Midstream

67,245

60,791

168,927

155,909

^[1]

Preferred dividends

14,628

29,256

^[1]

Net income attributable to Equitrans Midstream common shareholders

$ 52,617

$ 46,163

$ 139,671

$ 126,653

^[1]

Earnings per share of common stock attributable to Equitrans Midstream common shareholders - basic (in dollars per share)

$ 0.12

$ 0.11

$ 0.32

$ 0.29

^[1]

Earnings per share of common stock attributable to Equitrans Midstream common shareholders - diluted (in dollars per share)

$ 0.12

$ 0.11

$ 0.32

$ 0.29

^[1]

Weighted average common shares outstanding - basic (in shares)

433,961

433,333

433,834

433,326

^[1]

Weighted average common shares outstanding - diluted (in shares)

435,476

434,025

434,640

433,970

^[1]

Statement of comprehensive income:

Net income

$ 68,920

$ 64,739

$ 175,011

$ 163,632

^[1],[2]

Other comprehensive income, net of tax:

Pension and other post-retirement benefits liability adjustment, net of tax expense of $7, $12, $14 and $24

22

34

44

68

^[1]

Other comprehensive income

22

34

44

68

^[1]

Comprehensive income

68,942

64,773

175,055

163,700

^[1]

Less: Comprehensive income attributable to noncontrolling interest

1,675

3,948

6,084

7,723

^[1]

Less: Comprehensive income attributable to preferred dividends

14,628

29,256

^[1]

Comprehensive income attributable to Equitrans Midstream common shareholders

$ 52,639

$ 46,197

$ 139,715

$ 126,721

^[1]

Dividends declared per common share (in dollars per share)

$ 0.15

$ 0.30

^[1]

[1]	Certain line items of the previously issued unaudited interim consolidated financial statements for the three and six months ended June 30, 2022 have been revised. See Note 1 for more information.
[2]	Certain line items of the previously issued unaudited interim consolidated financial statements for the six months ended June 30, 2022 have been revised. See Note 1 for more information.
[3]	Represents equity income from Mountain Valley Pipeline, LLC (the MVP Joint Venture). See Note 4.
[4]	Represents equity income from the MVP Joint Venture. See Note 4.

ETRN Balance Sheet

2023-06-30

Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands

Jun. 30, 2023

Dec. 31, 2022

Current assets:

Cash and cash equivalents

$ 107,072

$ 67,898

Accounts receivable (net of allowance for credit losses of $4,289 and $3,031 as of June 30, 2023 and December 31, 2022, respectively)

237,630

246,887

Other current assets

71,012

74,917

Total current assets

415,714

389,702

Property, plant and equipment

9,528,396

9,365,051

Less: accumulated depreciation

(1,617,527)

(1,480,720)

Net property, plant and equipment

7,910,869

7,884,331

Investment in unconsolidated entities

^[1]

1,090,202

819,743

Goodwill

486,698

Net intangible assets

554,543

586,952

Other assets

268,987

278,159

Total assets

10,727,013

10,445,585

Current liabilities:

Current portion of long-term debt

0

98,830

Accounts payable

49,496

60,528

Capital contributions payable to the MVP Joint Venture

209,779

34,355

Accrued interest

133,376

135,762

Accrued liabilities

69,208

83,835

Total current liabilities

461,859

413,310

Long-term liabilities:

Revolving credit facility borrowings

570,000

535,000

Long-term debt

6,340,880

6,335,320

Contract liability

1,129,599

968,535

Regulatory and other long-term liabilities

124,875

112,974

Total liabilities

8,627,213

8,365,139

Mezzanine equity:

Equitrans Midstream Preferred Shares, 30,018 shares issued and outstanding as of June 30, 2023 and December 31, 2022

681,842

Shareholders' equity:

Common stock, no par value, 433,261 and 432,781 shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively

4,001,030

3,974,127

Retained deficit

(3,047,267)

(3,053,590)

Accumulated other comprehensive loss

(1,288)

(1,332)

Total common shareholders' equity

952,475

919,205

Noncontrolling interest

465,483

479,399

Total shareholders' equity

1,417,958

1,398,604

Total liabilities, mezzanine equity and shareholders' equity

$ 10,727,013

$ 10,445,585

[1]	Represents investment in the MVP Joint Venture. See Note 4.

About Equitrans Midstream

Thomas F. Karam

www.equitransmidstream.com

770

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 Service System. The Gathering System segment include 1,130 miles of high-pressure gathering lines with compression of approximately 485,000 horsepower and multiple interconnect points; and approximately 910 miles of Federal Energy Regulatory Commission (FERC) low-pressure gathering lines. The Transmission and Storage System segment comprises 950 miles of FERC regulated interstate pipeline that connects to seven interstate pipelines and local distribution companies. The Water Service System segment include two independent systems comprised approximately 200 miles of pipeline that deliver fresh water from the Monongahela River, the Ohio River, local reservoirs, and various regional waterways. Equitrans Midstream Corporation was incorporated in 2018 and is headquartered in Canonsburg, Pennsylvania.

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