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ETRN

Equitrans Midstream

$21.18

1.73 (8.89%)

08:17
11/14/18
11/14
08:17
11/14/18
08:17

Equitrans Midstream initiated with an Overweight at US Capital Advisors

US Capital Advisors initiated Equitrans Midstream with an Overweight and $27 price target.

ETRN Equitrans Midstream
$21.18

1.73 (8.89%)

11/09/18
JEFF
11/09/18
INITIATION
Target $25
JEFF
Buy
Equitrans Midstream initiated with a Buy at Jefferies
Jefferies analyst Christopher Sighinolfi started Equitrans Midstream with a Buy rating and $25 price target.
11/09/18
11/09/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. RH (RH) initiated with an Overweight at JPMorgan. 2. Ascendis Pharma (ASND) initiated with an Outperform at Credit Suisse. 3. Kura Oncology (KURA) initiated with an Overweight at Piper Jaffray. 4. Equitrans Midstream (ETRN) initiated with a Buy at Jefferies. 5. Instructure (INST) initiated with a Neutral at Credit Suisse. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, Reference Link
11/13/18
WELS
11/13/18
INITIATION
Target $23
WELS
Market Perform
Equitrans Midstream initiated with a Market Perform at Wells Fargo
Wells Fargo analyst Michael Blum started Equitrans Midstream (ETRN) with a Market Perform rating and $23 price target. The analyst notes that the company's only assets are its 91.3% ownership interest in EQGP Holdings (EQGP) and a 12.7% ownership interest in EQT Midstream Partners (EQM). Blum forecasts a 3-year dividend compounded annual growth rate of 9.3%, compared to the median growth rate of 5.7% for its closest peers, and 6.2% for the midstream C-Corp peer group. However, he believes Equitrans Midstream faces several near-term headwinds including uncertainty around EQT Midstream Partners' Mountain Valley Pipeline, simplification risk tied to the likely merger of EQGP and EQT Midstream Partners, and potential selling pressure as shares move from E&P to midstream investors.
11/14/18
11/14/18
DOWNGRADE

Underweight
Morgan Stanley sees structural challenges at EQT, downgrades to Underweight
As previously reported, Morgan Stanley analyst Drew Venker downgraded EQT Corporation (EQT) to Underweight from Equal Weight, as he believes the market is missing EQT's high cost structure and declining production starting in 2020. Given the structural challenges he sees, Venker believes EQT's guidance appears optimistic and will be difficult to achieve, he tells investors. Based on his expectations for higher capex and lower production, his 2020 EBITDA estimate is 10% below what's implied by guidance, the analyst noted. Venker slashed his price target on EQT shares to $12 from $48, which also reflects the spin off of 80.1% of EQT's stake in Equitrans Midstream (ETRN) in November.

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