Equitrans Midstream (ETRN)

Company Profile

Equitrans Midstream Corporation (ETRN) has a premier asset footprint in the Appalachian Basin and, as the parent company of EQM Midstream Partners, is one of the largest natural gas gatherers in the United States. Through its strategically located assets in the Marcellus and Utica regions, ETRN has an operational focus on gas transmission and storage systems, gas gathering systems, and water services that support natural gas development and production across the Basin. With a rich 135-year history in the energy industry, ETRN was launched as a standalone company in 2018 with the vision to be the premier midstream services provider in North America. ETRN is helping to meet America's growing need for clean-burning energy, while also providing a rewarding workplace and enriching the communities where its employees live and work.

Company profile

Ticker

ETRN

Exchange

NYSE

Website

www.equitransmidstream.com

CEO

Thomas Karam

Incorporated

Pennsylvania

Location

Pennsylvania

Fiscal year end

Dec 31

Sector

Transportation and Warehousing > Pipeline Transportation of Natural Gas

Industry (SIC)

Natural Gas Transmission

Kinder Morgan • Energy Transfer • Southern California Gas • Enterprise Products Partners • Williams Cos • Boardwalk Pipeline Partners • Enable Midstream Partners • Archrock • Western Midstream Partners • DT Midstream ...

SEC CIK

0001747009

Corporate docs

Articles of Incorporation & Bylaws

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

EQGP Holdings, LP • EQGP Services, LLC • EQM Gathering Holdings, LLC • EQM Gathering Opco, LLC • EQM GP Corporation • EQM LP LLC • EQM Midstream Finance Corporation • EQM Midstream Management LLC • EQM Midstream Partners, LP • EQM Olympus Midstream LLC ...

IRS number

830516635

ETRN stock data

1M 1Y 5Y

Analyst ratings and price targets

Last 3 months

Average target

$7.00

Low target

$6.00

High target

$8.00

Latest filings (excl ownership)

View all

DEFA14A

Additional proxy soliciting materials

14 Mar 23

DEFA14A

Additional proxy soliciting materials

23 Feb 23

Departure of Directors or Certain Officers

21 Feb 23

EQUITRANS MIDSTREAM ANNOUNCES FULL-YEAR and Fourth Quarter 2022 Results

21 Feb 23

8-K

Amendments to Articles of Incorporation or Bylaws

14 Dec 22

S-3ASR

Automatic shelf registration

2 Nov 22

Equitrans Midstream Announces Third Quarter 2022 Results

1 Nov 22

Transcripts

View all

ETRN

Earnings call transcript

2022 Q4

21 Feb 23

ETRN

Earnings call transcript

2022 Q3

1 Nov 22

ETRN

Earnings call transcript

2022 Q2

2 Aug 22

ETRN

Earnings call transcript

2022 Q1

3 May 22

ETRN

Earnings call transcript

2021 Q4

22 Feb 22

ETRN

Earnings call transcript

2021 Q3

2 Nov 21

ETRN

Earnings call transcript

2021 Q2

3 Aug 21

ETRN

Earnings call transcript

2021 Q1

4 May 21

ETRN

Earnings call transcript

2020 Q4

23 Feb 21

ETRN

Earnings call transcript

2020 Q3

3 Nov 20

Latest ownership filings

View all

PRICE T ROWE ASSOCIATES INC /MD/

14 Feb 23

Financial summary

Financial statements Chart ETRN financial data

Quarter (USD)	Dec 22	Sep 22	Jun 22	Mar 22
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 22	Dec 21	Dec 20	Dec 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	67.90 mm	67.90 mm	67.90 mm	67.90 mm	67.90 mm	67.90 mm
Cash burn (monthly)	(no burn)	5.56 mm	(no burn)	(no burn)	(no burn)	(no burn)
Cash used (since last report)	n/a	15.63 mm	n/a	n/a	n/a	n/a
Cash remaining	n/a	52.27 mm	n/a	n/a	n/a	n/a
Runway (months of cash)	n/a	9.4	n/a	n/a	n/a	n/a

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Institutional ownership, Q4 2022

ETRN institutional ownership history Ownership history

91.2% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	328	314	+4.5%
Opened positions	55	37	+48.6%
Closed positions	41	43	-4.7%
Increased positions	117	127	-7.9%
Reduced positions	107	97	+10.3%

13F shares	Current	Prev Q	Change
Total value	2.66 tn	2.93 bn	+90803.0%
Total shares	395.99 mm	391.73 mm	+1.1%
Total puts	540.70 k	1.07 mm	-49.4%
Total calls	1.10 mm	2.44 mm	-55.1%
Total put/call ratio	0.5	0.4	+12.9%

Largest owners	Shares	Value	Change
BLK Blackrock	51.73 mm	$346.59 bn	+5.7%
Capital International Investors	49.24 mm	$330.02 bn	+0.2%
Vanguard	46.36 mm	$310.64 bn	+2.4%
T. Rowe Price	31.32 mm	$211.64 bn	-24.5%
STT State Street	14.92 mm	$99.98 bn	NEW
Zimmer Partners	13.40 mm	$89.79 bn	+67.1%
BN Brookfield	13.39 mm	$89.73 bn	+0.6%
Dimensional Fund Advisors	9.05 mm	$61.16 bn	-18.1%
Geode Capital Management	7.75 mm	$52.36 bn	+4.1%
IVZ Invesco	7.26 mm	$48.63 bn	-3.6%

Largest transactions	Shares	Bought/sold	Change
STT State Street	14.92 mm	+14.92 mm	NEW
T. Rowe Price	31.32 mm	-10.19 mm	-24.5%
Aventail Capital	0.00	-9.89 mm	EXIT
Salient Capital Advisors	0.00	-7.99 mm	EXIT
WHG Westwood	7.15 mm	+7.15 mm	NEW
Zimmer Partners	13.40 mm	+5.38 mm	+67.1%
Jennison Associates	3.26 mm	-4.17 mm	-56.1%
GS Goldman Sachs	5.87 mm	+3.74 mm	+175.7%
Marshall Wace	3.29 mm	+3.29 mm	NEW
BLK Blackrock	51.73 mm	+2.77 mm	+5.7%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

ETRN insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
24 Mar 23	Bailey Vicky A	Common Stock	Sell	Dispose S	No	No	5.09	2,440	12.42 k	0
21 Mar 23	Thomas F Karam	Common Stock	Gift	Dispose G	No	No	0	100,000	0.00	754,827
16 Mar 23	Oliver Kirk R	Common Stock	Buy	Acquire P	Yes	No	5.46	9,000	49.14 k	39,118
14 Mar 23	Moore Stephen M	Common Stock	Buy	Acquire P	No	No	5.86	8,500	49.81 k	188,916
27 Feb 23	Diana M Charletta	Common Stock	Grant	Acquire A	No	No	6.21	136,790	849.47 k	368,041
27 Feb 23	Diana M Charletta	Common Stock	Payment of exercise	Dispose F	Yes	No	6.11	82	501.02	7,515
27 Feb 23	Diana M Charletta	Common Stock	Grant	Acquire A	Yes	No	6.11	240	1.47 k	7,597
27 Feb 23	Diana M Charletta	Common Stock	Payment of exercise	Dispose F	No	No	6.11	5,042	30.81 k	231,251
27 Feb 23	Diana M Charletta	Common Stock	Grant	Acquire A	No	No	6.11	11,592	70.83 k	236,293