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Equitrans Midstream Corp Stock Research

ETRN

5.45USD+0.01(+0.18%)Market Closed

Market Summary

USD5.45+0.01
Market Closed
0.18%

ETRN Alerts

ETRN Stock Price

ETRN RSI Chart

ETRN Valuation

Market Cap

2.4B

Price/Earnings (Trailing)

-8.76

Price/Sales (Trailing)

1.74

EV/EBITDA

-6.14

Price/Free Cashflow

5.03

ETRN Price/Sales (Trailing)

ETRN Profitability

EBT Margin

-18.46%

Return on Equity

-29.3%

Return on Assets

-2.58%

Free Cashflow Yield

19.89%

ETRN Fundamentals

ETRN Revenue

Revenue (TTM)

1.4B

Revenue Y/Y

44.01%

Revenue Q/Q

7.08%

ETRN Earnings

Earnings (TTM)

-269.3M

Earnings Y/Y

104.36%

Earnings Q/Q

113.83%

Price Action

52 Week Range

5.319.72
(Low)(High)

Last 7 days

-10.4%

Last 30 days

-18.8%

Last 90 days

-22.9%

Trailing 12 Months

-20.3%

ETRN Financial Health

Current Ratio

0.94

ETRN Investor Care

Dividend Yield

11.01%

Dividend/Share (TTM)

0.6

Shares Dilution (1Y)

0.06%

Diluted EPS (TTM)

-0.76

Peers (Alternatives to Equitrans Midstream)

View All Peers In Detail
NameMkt Capsorted ascendingRevenuePrice %, 1MReturns, 1YP/EP/SRev 1-YrInc 1-Yr
LARGE-CAP
40.6B
89.9B
-7.80% 29.98%
8.97
1.48
33.31% -13.05%
37.2B
19.2B
-9.84% 0.22%
14.6
1.94
15.59% 42.83%
35.1B
11.0B
-9.53% -6.22%
17.15
3.2
3.18% 35.07%
28.8B
17.2B
-15.82% -1.16%
20.75
2.2
82.38% 53.25%
27.3B
22.4B
-12.90% -0.85%
15.84
1.22
35.35% 14.84%
MID-CAP
8.2B
15.0B
0.07% 47.53%
9.89
0.59
40.03% 169.05%
6.0B
2.4B
-28.31% 1.19%
30.82
2.53
79.03% 100.28%
5.0B
9.5B
-17.92% 24.51%
13.71
0.52
42.72% 1512.95%
2.4B
1.4B
-18.81% -20.26%
-8.76
1.74
3.09% 80.92%
2.3B
1.0B
8.06% 34.17%
14.33
2.2
47.87% -3.50%
SMALL-CAP
1.7B
226.0M
-11.30% 11.36%
7.7
7.59
436.62% 482.73%
592.5M
2.8B
-5.10% -10.81%
-122.87
0.21
2311.20% 73.74%
582.1M
404.2M
19.84% 54.87%
15.22
1.44
-0.37% 17.85%
202.8M
369.6M
-3.26% 12.60%
-1.71
0.51
-7.74% -284.00%

Financials for Equitrans Midstream

Income Statement (Last 12 Months)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Revenue8.7%1,357,747,0001,249,180,0001,259,503,0001,279,187,0001,317,037,000
  S&GA Expenses3.1%128,472,000124,594,000124,806,000131,279,000137,056,000
EBITDA84.8%-372,832,000-2,454,394,000-1,781,043,000-1,804,681,000-
EBITDA Margin86.0%-0.27-1.96-1.41-1.41-
Earnings Before Taxes89.3%-250,694,000-2,341,030,000-1,716,759,000-1,732,448,000-1,740,643,000
EBT Margin90.1%-0.18-1.87-1.33-1.33-
Interest Expenses-2.9%-394,333,000-383,086,000-376,102,000-376,627,000-378,650,000
Net Income86.2%-269,342,000-1,956,077,000-1,364,439,000-1,388,828,000-1,411,820,000
Net Income Margin87.3%-0.20-1.57-1.05-1.06-
Free Cahsflow-36.3%469,114,000737,006,000770,272,000824,621,000-
Balance Sheet
(In Millions)
* denotes actual numbers (not divided by Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Assets1.1%10,44610,33510,90910,77610,883
  Current Assets17.3%390332392326447
    Cash Equivalents41.3%68.0048.0011542.00135
  Net PPE0.3%7,8847,8597,8227,7847,788
  Goodwill0%487487487487487
Liabilities1.2%8,3658,2628,2418,0988,228
  Current Liabilities-23.6%413541300208368
    LT Debt, Current-0.1%99.0099.00---
Shareholder's Equity0.7%9199131,4951,5091,489
  Retained Earnings0.0%-3,053-3,054-2,468-2,449-2,464
Accumulated Depreciation4.8%1,4811,4121,3441,2781,217
Shares Outstanding0%433433433433433
Minority Interest-0.8%479483---
Cashflow (Last 12 Months)
(In Millions)
* denotes actual numbers (not divided by Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Cashflow From Operations-22.6%8461,0931,0941,1251,169
  Share Based Compensation8.0%16.0015.0014.0013.0013.00
Cashflow From Investing7.6%-567-614-632-644-572
Cashflow From Financing44.8%-345-625-588-670-669
  Dividend Payments0.0%260260260260259
  Buy BacksNaN%0.000.00---

Risks for ETRN

What is the probability of a big loss on ETRN?

81.8%


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

72.7%


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

64.5%


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

Returns for ETRN

Cumulative Returns on ETRN

8.6%


3-Year Cumulative Returns

Which funds bought or sold ETRN recently?

View All Details
Datesorted ascendingFund NameType% Chg$ Change$ Held% Portfolio
2023-03-15
B. Riley Wealth Advisors, Inc.
reduced
-3.02
-12,077
77,923
-%
2023-03-10
VICTORY CAPITAL MANAGEMENT INC
reduced
-0.02
-74,438
635,562
-%
2023-03-06
Rockefeller Capital Management L.P.
reduced
-8.8
-4,000
16,000
-%
2023-02-28
Voya Investment Management LLC
added
13.06
46,885
3,720,880
-%
2023-02-24
Garde Capital, Inc.
sold off
-100
-101,000
-
-%
2023-02-22
TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY
unchanged
-
-50,000
431,000
-%
2023-02-21
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO
reduced
-95.86
-22,136
864
-%
2023-02-21
MACQUARIE GROUP LTD
added
34.07
188,000
1,267,000
-%
2023-02-21
NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC
reduced
-35.92
-199,652
268,348
0.01%
2023-02-17
Coppell Advisory Solutions Corp.
new
-
683
683
-%

1–10 of 45

Latest Funds Activity

Are funds buying ETRN calls or puts?
Calls
Puts
Are funds bullish or bearish(Calls - Puts)?
Net Call Options
No. of funds that own ETRN
No. of Funds

Equitrans Midstream News

The News Heater

Equitrans Midstream Corporation (ETRN) Shares Up Despite ....

The News Heater,
2 days ago

Morningstar

Seeking Alpha

Schedule 13G FIlings of Equitrans Midstream

Date FiledName of FilerPercent of ClassNo. of SharesForm 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

ETRN Fair Value

Equitrans Midstream fair value in different scenarios

The table shows the Fair Value estimates for Equitrans Midstream for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.
Fair ValueVery PessimisticPessimisticBase CaseOptimisticVery Optimistic
Very Low Inflation

1.67

-69.36%

2.32

-57.43%

2.68

-50.83%

3.52

-35.41%

4.20

-22.94%
Current Inflation

1.62

-70.28%

2.19

-59.82%

2.52

-53.76%

3.24

-40.55%

3.83

-29.72%
Very High Inflation

1.55

-71.56%

2.03

-62.75%

2.31

-57.61%

2.90

-46.79%

3.39

-37.80%

Historical Equitrans Midstream Fair Value Estimates


Very Pessimistic Case
Pessimistic Case
Fair Value
Optimistic Case
Very Optimistic Case
Closing Stock Price

Recent SEC filings of Equitrans Midstream

View All Filings
Date Filed Form Type Document
Mar 15, 2023
4
Insider Trading
Mar 14, 2023
DEFA14A
DEFA14A
Mar 02, 2023
DEFA14A
DEFA14A
Mar 01, 2023
4
Insider Trading
Mar 01, 2023
4
Insider Trading
Mar 01, 2023
4
Insider Trading
Mar 01, 2023
4
Insider Trading
Mar 01, 2023
4
Insider Trading
Feb 23, 2023
DEF 14A
DEF 14A
Feb 22, 2023
8-K
Current Report

Latest Insider Trading transactions for ETRN

Filter Transactions
Datesorted ascendingNameBuy/Sell$ ValueAvg. Price# SharesTitle
2023-03-14
Moore Stephen M
bought
49,810
5.86
8,500
sr vp & general counsel
2023-02-27
Pietrandrea Brian P.
acquired
179,254
6.20407
28,893
vp and cao
2023-02-27
Oliver Kirk R
acquired
717,003
6.20406
115,570
sr vp & cfo
2023-02-27
KARAM THOMAS F
sold (taxes)
-92,413
6.11
-15,125
chairman and ceo
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
Charletta Diana M
acquired
920,293
6.20219
148,382
president and coo
2023-02-27
Charletta Diana M
sold (taxes)
-30,806
6.11
-5,042
president and coo
2023-02-27
Moore Stephen M
sold (taxes)
-11,908
6.11
-1,949
sr vp & general counsel

1–10 of 50

Thomas F. Karam
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.

ETRN Income Statement

2022-12-31
Statements of Consolidated Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Income Statement [Abstract]   
Operating revenues$ 1,357,747$ 1,317,037$ 1,510,825
Operating expenses:   
Operating and maintenance154,667153,179154,109
Selling, general and administrative128,472137,056129,969
Transaction costs0023,797
Depreciation272,195270,404259,613
Amortization of intangible assets64,81964,81963,195
Impairments of long-lived assets and equity method investments056,17855,581
Total operating expenses620,153681,636686,264
Operating income737,594635,401824,561
Equity income[1],[2]16817,579233,833
Impairments of equity method investment(583,057)(1,926,402)0
Other income (expense), net13,871(47,546)10,427
Loss on extinguishment of debt(24,937)(41,025)(24,864)
Net interest expense(394,333)(378,650)(307,380)
(Loss) income before income taxes(250,694)(1,740,643)736,577
Income tax expense (benefit)6,444(343,353)103,593
Net (loss) income(257,138)(1,397,290)632,984
Net (loss) income attributable to Equitrans Midstream12,20414,530214,912
Net (loss) income attributable to Equitrans Midstream(269,342)(1,411,820)418,072
Preferred dividends58,51258,51258,760
Net (loss) income attributable to Equitrans Midstream common shareholders$ (327,854)$ (1,470,332)$ 359,312
Earnings Per Share, Basic [Abstract]   
(Loss) earnings per share of common stock attributable to Equitrans Midstream common shareholders (in dollars per share)$ (0.76)$ (3.40)$ 1.04
Weighted average common stock outstanding (in shares)433,341433,008343,935
Earnings Per Share, Diluted [Abstract]   
(Loss) earnings per share of common stock attributable to Equitrans Midstream common shareholders (in dollars per share)$ (0.76)$ (3.40)$ 1.04
Weighted average common stock outstanding (in shares)433,341433,008343,975
Net (loss) income$ (257,138)$ (1,397,290)$ 632,984
Other comprehensive loss, net of tax:   
Pension and other post-retirement benefits liability adjustment, net of tax expense (benefit) of $236, $62 and $(70)722175(203)
Other comprehensive income (loss)722175(203)
Comprehensive (loss) income(256,416)(1,397,115)632,781
Less: Comprehensive income attributable to noncontrolling interests12,20414,530214,912
Less: Comprehensive income attributable to preferred dividends58,51258,51258,760
Comprehensive (loss) income attributable to Equitrans Midstream common shareholders$ (327,132)$ (1,470,157)$ 359,109
Dividends declared per common share (in dollars per share)$ 0.60$ 0.60$ 0.60
[1]Represents equity income from Mountain Valley Pipeline, LLC (the MVP Joint Venture). See Note 8.
[2]Represents equity income from the MVP Joint Venture. See Note 8.

ETRN Balance Sheet

2022-12-31
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Current assets:  
Cash and cash equivalents$ 67,898$ 134,661
Accounts receivable (net of allowance for credit losses of $3,031 and $2,696 as of December 31, 2022 and 2021, respectively)246,887252,301
Other current assets74,91759,867
Total current assets389,702446,829
Property, plant and equipment9,365,0519,004,602
Less: accumulated depreciation(1,480,720)(1,217,099)
Net property, plant and equipment7,884,3317,787,503
Investments in unconsolidated entity[1]819,7431,239,039
Goodwill486,698486,698
Net intangible assets586,952651,771
Other assets278,159270,684
Total assets10,445,58510,882,524
Current liabilities:  
Current portion of long-term debt98,8300
Accounts payable60,52859,627
Capital contributions payable to the MVP Joint Venture34,35572,188
Accrued interest135,762151,909
Accrued liabilities83,83583,852
Total current liabilities413,310367,576
Long-term liabilities:  
Revolving credit facility borrowings535,000505,000
Long-term debt6,335,3206,434,945
Contract liability968,535821,342
Regulatory and other long-term liabilities112,97499,333
Total liabilities8,365,1398,228,196
Mezzanine equity:  
Equitrans Midstream Preferred Shares, 30,018 shares issued and outstanding as of December 31, 2022 and 2021681,842681,842
Shareholders' equity:  
Common stock, no par value, 432,781 and 432,522 shares issued and outstanding as of December 31, 2022 and 2021, respectively3,974,1273,955,918
Retained deficit(3,053,590)(2,464,573)
Accumulated other comprehensive loss(1,332)(2,054)
Total common shareholders' equity919,2051,489,291
Noncontrolling interests479,399483,195
Total shareholders' equity1,398,6041,972,486
Total liabilities, mezzanine equity and shareholders' equity$ 10,445,585$ 10,882,524
[1]Represents investment in the MVP Joint Venture. See Note 8.