Equitrans Midstream Corporation (ETRN) Gains But Lags Market: What You Should Know

In the latest trading session, Equitrans Midstream Corporation (ETRN) closed at $4.99, marking a +0.2% move from the previous day. This change lagged the S&P 500's 9.38% gain on the day. Meanwhile, the Dow gained 11.37%, and the Nasdaq, a tech-heavy index, added 8.12%.

Heading into today, shares of the company had lost 49.54% over the past month, outpacing the Oils-Energy sector's loss of 51.04% and lagging the S&P 500's loss of 32.94% in that time.

ETRN will be looking to display strength as it nears its next earnings release. In that report, analysts expect ETRN to post earnings of $0.40 per share. This would mark year-over-year growth of 60%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $422.50 million, up 8.39% from the year-ago period.

ETRN's full-year Zacks Consensus Estimates are calling for earnings of $1.70 per share and revenue of $1.65 billion. These results would represent year-over-year changes of -43.33% and +1.27%, respectively.

Any recent changes to analyst estimates for ETRN should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 5.66% lower. ETRN currently has a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that ETRN has a Forward P/E ratio of 2.94 right now. For comparison, its industry has an average Forward P/E of 2.94, which means ETRN is trading at a no noticeable deviation to the group.

The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 214, which puts it in the bottom 17% 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.

To follow ETRN in the coming trading sessions, be sure to utilize Zacks.com.