Equitrans Midstream Corporation

NYSE:ETRN Stock Report

Market Cap: US$5.4b

This company listing is no longer active

This company may still be operating, however this listing is no longer active. Find out why through their latest events.

Equitrans Midstream Valuation

Is ETRN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ETRN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ETRN ($12.42) is trading below our estimate of fair value ($36.81)

Significantly Below Fair Value: ETRN is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ETRN?

Key metric: As ETRN is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for ETRN. This is calculated by dividing ETRN's market cap by their current earnings.
What is ETRN's PE Ratio?
PE Ratio13.8x
EarningsUS$391.29m
Market CapUS$5.40b

Price to Earnings Ratio vs Peers

How does ETRN's PE Ratio compare to its peers?

The above table shows the PE ratio for ETRN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average32.7x
KNTK Kinetik Holdings
11.6x5.1%US$3.5b
DTM DT Midstream
26.9x8.4%US$10.7b
AM Antero Midstream
19.6x16.7%US$7.5b
ENLC EnLink Midstream
72.6x61.3%US$7.1b
ETRN Equitrans Midstream
13.8x12.5%US$5.4b

Price-To-Earnings vs Peers: ETRN is good value based on its Price-To-Earnings Ratio (13.8x) compared to the peer average (21.5x).

Price to Earnings Ratio vs Industry

How does ETRN's PE Ratio compare vs other companies in the US Oil and Gas Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
AXAS Abraxas Petroleum
0.09xn/aUS$10.27m
BYRO.F Byron Energy
0.03x-10.3%US$312.17k
USOP.Y U.S. Oil and Gas
n/an/aUS$6.00
No more companies available in this PE range
ETRN 13.8xIndustry Avg. 11.6xNo. of Companies20PE0816243240+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ETRN is expensive based on its Price-To-Earnings Ratio (13.8x) compared to the US Oil and Gas industry average (11.2x).

Price to Earnings Ratio vs Fair Ratio

What is ETRN's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ETRN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio13.8x
Fair PE Ratio13.5x

Price-To-Earnings vs Fair Ratio: ETRN is expensive based on its Price-To-Earnings Ratio (13.8x) compared to the estimated Fair Price-To-Earnings Ratio (13.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ETRN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentn/a
US$12.60
0%
19.2%US$17.00US$10.00n/a5
Nov ’25n/a
US$12.60
0%
19.2%US$17.00US$10.00n/a5
Oct ’25n/a
US$12.60
0%
19.2%US$17.00US$10.00n/a5
Sep ’25n/a
US$12.60
0%
19.2%US$17.00US$10.00n/a5
Aug ’25n/a
US$12.60
0%
19.2%US$17.00US$10.00n/a5
Jul ’25US$12.82
US$13.00
+1.4%
17.0%US$17.00US$10.00n/a7
Jun ’25US$14.28
US$12.15
-15.0%
11.8%US$15.00US$10.00n/a8
May ’25US$13.10
US$12.11
-7.6%
9.2%US$14.00US$10.00n/a10
Apr ’25US$12.53
US$11.81
-5.8%
7.2%US$13.00US$10.00n/a10
Mar ’25US$10.70
US$11.74
+9.7%
12.9%US$15.00US$9.00n/a13
Feb ’25US$10.48
US$11.39
+8.7%
19.3%US$15.00US$6.00n/a13
Jan ’25US$10.18
US$11.31
+11.1%
19.4%US$15.00US$6.00n/a13
Dec ’24US$10.43
US$11.00
+5.5%
21.0%US$15.00US$6.00n/a12
Nov ’24US$8.87
US$10.92
+23.1%
20.6%US$15.00US$6.00n/a12
Oct ’24US$9.37
US$11.09
+18.4%
22.2%US$15.00US$6.00n/a11
Sep ’24US$9.80
US$11.09
+13.2%
22.2%US$15.00US$6.00n/a11
Aug ’24US$10.00
US$10.80
+8.0%
22.5%US$15.00US$6.00n/a11
Jul ’24US$9.56
US$10.48
+9.6%
22.3%US$15.00US$6.00US$12.8211
Jun ’24US$8.84
US$8.12
-8.2%
27.7%US$11.00US$5.00US$14.2811
May ’24US$5.04
US$7.23
+43.5%
23.4%US$10.80US$5.00US$13.1010
Apr ’24US$5.78
US$7.94
+37.3%
17.4%US$10.80US$6.00US$12.5311
Mar ’24US$6.10
US$8.12
+33.1%
15.3%US$10.80US$6.00US$10.7011
Feb ’24US$7.08
US$8.50
+20.1%
23.4%US$14.00US$6.00US$10.4811
Jan ’24US$6.70
US$8.95
+33.6%
20.5%US$14.00US$7.00US$10.1811
Dec ’23US$8.30
US$9.50
+14.5%
21.7%US$14.00US$7.00US$10.4310
Nov ’23US$7.92
US$9.85
+24.4%
22.2%US$14.00US$6.50US$8.8710

Analyst Forecast: Target price is less than 20% higher than the current share price.

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