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Morningstar

Equitrans Midstream Corp ETRN

Morningstar Rating
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Stock XNYS Rating as of
$14.35 +0.04 (0.28%)
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As of Delayed Price Closed
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Company Report

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Finding Undervalued Opportunities From AI and Data Center Demand in E&Ps and Midstream

Stephen Ellis

We think AI and data center demand offers a potentially sizable growth opportunity across our US E&P and US & Canadian midstream coverage list. We consider Chart Industries, Energy Transfer, Enbridge, Kinder Morgan, and TC Energy as undervalued ways to play this trend. Cheniere Energy and Williams are more fairly valued, while Antero, Range, and likely EQT (not covered) are obvious direct opportunities and appear expensive.

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Price vs Fair Value

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ETRN is trading within a range we consider fairly valued.
Price
$14.31
Fair Value
$85.00
Uncertainty
High
1-Star Price
$58.90
5-Star Price
$3.90
Economic Moat
Qvkkbd
Capital Allocation
Syzq

Bulls Say, Bears Say

Bulls

The integration of Rice Energy Midstream offers optimization opportunities, given the geographic closeness of the assets, representing $300 million to $500 million in potential capital avoidance over the next five years.

Bears

There could still be legal challenges to the MVP Southgate and Hammerhead projects, as only the MVP is protected under legislation.

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Trading Information

Previous Close Price
$14.31
Day Range
$14.13–14.44
52-Week Range
$8.45–14.60
Bid/Ask
$14.29 / $14.48
Market Cap
$6.27 Bil
Volume/Avg
10.3 Mil / 8.1 Mil

Key Statistics

Price/Earnings (Normalized)
19.97
Price/Sales
4.55
Dividend Yield (Trailing)
4.18%
Dividend Yield (Forward)
4.18%
Total Yield
4.18%

Company Profile

Equitrans acquired EQM Midstream in mid-2020, consolidating the midstream family. Equitrans now own EQM assets directly versus just unit ownership. EQM Midstream provides gathering, transmission, and water services to primarily Appalachian producers in Pennsylvania, West Virginia, and Ohio.
Sector
Energy
Industry
Oil & Gas Midstream
Stock Style Box
Small Core
Total Number of Employees
773
Website
https://www.equitransmidstream.com

Competitors

Valuation

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Metric
ETRN
WMB
MPLX
Price/Earnings (Normalized)
 19.9721.2410.56
Price/Book Value
 5.784.063.23
Price/Sales
 4.554.773.93
Price/Cash Flow
 10.728.617.73
Price/Earnings
ETRN
WMB
MPLX

Financial Strength

Metric
ETRN
WMB
MPLX
Quick Ratio
 0.510.370.65
Current Ratio
 0.630.520.72
Interest Coverage
 2.054.055.45
Quick Ratio
ETRN
WMB
MPLX

Profitability

Metric
ETRN
WMB
MPLX
Return on Assets (Normalized)
 3.63%4.89%11.19%
Return on Equity (Normalized)
 40.21%20.70%54.71%
Return on Invested Capital (Normalized)
 8.91%8.53%14.35%
Return on Assets
ETRN
WMB
MPLX
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Oil & Gas Midstream Industry Comparables

Screen With Investor
1-Day Chart
Name
Price
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
Enbridge Inc
ENB
PprjgnqhzWfzrlwh$75.8 Bil
 Enterprise Products Partners LP
EPD
CclsdsncddWvjw$61.7 Bil
 Energy Transfer LP
ET
RjwxrSygc$52.5 Bil
 Williams Companies Inc
WMB
QgrpwzyGqypfs$50.4 Bil
 ONEOK Inc
OKE
BcjcwzrSpywxv$46.7 Bil
 Kinder Morgan Inc Class P
KMI
MlvhngvnqChmvhz$43.9 Bil
 MPLX LP Partnership Units
MPLX
FjjcxjxqQmvnz$42.1 Bil
 TC Energy Corp
TRP
LyxgswgqRgtgw$40.2 Bil
 Cheniere Energy Inc
LNG
XgfjhxswWcqfw$36.0 Bil
 Targa Resources Corp
TRGP
LdnfnchdSfpp$26.8 Bil

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