Equitrans Midstream Corporation (ETRN) Gains As Market Dips: What You Should Know

Equitrans Midstream Corporation (ETRN) closed the most recent trading day at $5.45, moving +1.3% from the previous trading session. The stock outpaced the S&P 500's daily loss of 4.89%. Elsewhere, the Dow lost 5.86%, while the tech-heavy Nasdaq lost 4.7%.

Heading into today, shares of the company had lost 39.82% over the past month, lagging the Oils-Energy sector's loss of 30.17% and the S&P 500's loss of 13.88% in that time.

ETRN will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.40, up 60% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $422.50 million, up 8.39% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.70 per share and revenue of $1.65 billion. These totals would mark changes of -43.33% and +1.27%, respectively, from last year.

Investors might also notice recent changes to analyst estimates for ETRN. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 5.66% lower. ETRN is currently sporting a Zacks Rank of #3 (Hold).

Digging into valuation, ETRN currently has a Forward P/E ratio of 3.17. This represents a discount compared to its industry's average Forward P/E of 9.32.

The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 115, putting it in the top 46% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.