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EQUITRANS MIDSTREAMEQUITRANS MIDSTREAMEQUITRANS MIDSTREAM

EQUITRANS MIDSTREAM

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$ETRN Back On TrackAfter years of back and forth regarding the Mountain Valley Pipeline, Equitrans Midstream Corporation (NYSE: ETRN) finally got the green light after the debt ceiling deal. Following the news, ETRN stock made a record gain of more than 40%. Furthermore, OPEC Plus has announced further oil production cuts, increasing global gas prices, which may push ETRN stock even higher. ETRN Fundamentals Mountain Valley Pipeline Resumption Earlier this month, President Biden signed the new debt ceiling deal which is going to suspend the $31.4 trillion debt limit through January 1, 2025. This deal proved to be crucial for ETRN’s future prospects since it will ratify and approve all permits and authorizations necessary for the construction and initial operation of the Mountain Valley Pipeline (MVP). The 300-mile natural gas pipeline is already 94% complete and will probably be complete by the end of 2023, according to ETRN, which means that ETRN could see a huge increase in its revenue in Q1 2024 if it can get the pipeline up and running by the projected date. ETRN Future The new Mountain Valley Pipeline will add more than 2 billion cubic feet (Bcf) per day to ETRN’s existing transmission capabilities of 3.35 Bcf per day, which would be a 60% increase in its daily production. Accordingly, ETRN’s revenues from gas production would increase by more than 60% which equates to an $83 million increase in Q1 2024, given that it reported revenue of $138.9 million from transmission operations in Q1 2023. ETRN is also expanding its Ohio Valley Connector which is expected to increase its deliverability by 0.35 Bcf per day. It is also worth mentioning that OPEC Plus lowered its oil production by 1 million barrels, which means that gas prices may increase. That can prove beneficial for ETRN, as it is the majority owner and operator of the Mountain Valley Pipeline. Furthermore, ETRN’s second water storage facility is expected to be placed in service in June and will bring its total water storage capacity to 350,000 barrels, almost a 130% increase from the previous 150,000 barrels. In turn, ETRN can expect to increase its revenue from water operations when the second storage starts operations. ETRN Financials In its Q1 2023 report, ETRN’s assets slightly decreased QoQ from $10.44 billion to $10.4 billion, and its cash and cash equivalents decreased 23% QoQ from $67.9 million to $52.5 million. ETRN’s total liabilities slightly decreased QoQ from $8.36 billion to $8.3 billion. Revenue also increased 9% YoY from $342 million to $376 million. Operating costs increased almost 10% from $146 million to $161 million, which contributed to the operating income increase of 10% YoY from $196 million to $215 million, which amounted to a net income of $106 million – a 7% increase YoY. Technical Analysis ETRN stock’s trend is bearish with the stock trading in a downward channel, however, the stock recently broke the channel. Looking at the indicators, the stock is trading above the 200, 50, and 21 MAs which are bullish indications. Meanwhile, the RSI is overbought at 76 and the MACD is approaching a bullish crossover. It is worth noting that there is a gap near $6.15 which the stock might fill in the near term considering that it is yet to retest the upper trend line to confirm breaking the channel. As for the fundamentals, ETRN stock just witnessed two catalysts in the resumption of the Mountain Valley Pipeline project and the OPEC oil production cut. ETRN stock’s future catalysts will be finishing the Mountain Valley Pipeline and any further cuts in oil production from OPEC. With the stock yet to retest the upper trendline and the RSI overbought, investors could wait for ETRN stock to cool down before adding shares. ETRN Forecast ETRN is probably one of the biggest direct beneficiaries of the new debt ceiling deal. After the resumption of the Mountain Valley Pipeline, ETRN is expected to grow its revenues by approximately $83 million in Q1 2024. Meanwhile, the consistent production cuts from OPEC might significantly benefit ETRN if gas prices increase. For these reasons, ETRN stock is one of the energy stocks to watch closely this year.
NYSE:ETRN
by Penny_Stocks_Today
Equitrans Midstream Corp Dropping. ETRNWe are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Confirmation level, where relevant, is a pink dotted, finite line. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe.
NYSE:ETRNShort
by Rykin_Capital
2
ETRN: Diamond in a dirt market?Equitrans Midstream Corp Short Term - We look to Buy at 9.43 (stop at 8.63) The medium term bias remains bullish. We look for a temporary move lower. Support is located at 9.40 and should stem dips to this area. Support could prove difficult to breakdown. Dip buying offers good risk/reward. Our profit targets will be 11.13 and 12.00 Resistance: 11.14 / 13.40 / 22.00 Support: 9.40 / 8.50 / 6.00 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’) . Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
NYSE:ETRNLong
by VantageMarkets
ETRN LONGFound these guys last night and did a little DD. Sounds like they are a natural gas transportation company who's stock has been held down because they keep delaying one of their main projects. With that being said, natty gas prices are soaring (+100% YOY) while this ticker is actually down over that period of time. Earnings coming up, and MACD looks to be crossing over, ill make a small entry at 8.80. I think I'm getting these guys at a discount, but only risking half my normal position because I do lack a little confidence in the company itself. RISK: -9.1% TP1: 13.6% TP2: 25%
NYSE:ETRNLong
by DrewDimes
ETRN - MACD SHORT TERM Bullish Crossing UPLadies and Gentlemen Welcome to another edition of FrancoBlanco's Dreams. This is just one of those assets that the institutions would advise for us to avoid, the questions on my mind are why? I Did some research and found that $ETRN in the short term MACD Indicator is Bullish. I would highly suggest for every interested party to do their own research. This should by no means be considered investment advice. Happy Hunting Folks. My Entry $7.00 My TP $ $9.50
NYSE:ETRNLong
by FrancoBlanco
ETRN Technical Analysis 🧙Business Description 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. After the transaction, EQT will own about 6% of the combined firm. If you understand the idea,🎯 press a thumb up! 👍 Have a question? Don't be shy to ask! 🤓 Interested to study how to analyze charts, follow me!
NYSE:ETRNLong
by TRADING_as_a_BUSINESS
5
Potential Short 5th Wave Swing Trading opportunity on ETRN Using our Elliott Wave Indicator suite for TradingView, we have setup a potential Short 5th Wave Swing Trade on ETRN (Daily Time Frame). Short Entry $13.61, below yesterdays low. Stop Loss at 14.79 above the 4th wave and our automated target zone is showing a target price around $11.50. Our ElliottWave Indicator suite really looks into the performance and behaviour of the 4th wave to predict a high probability 5th wave move. In this potential short swing trading opportunity the wave 4 has pulled back against the main bearish trend and found resistance in our GreenPull Back Zone. this gives an 85% probability the price will go down and reach our automated target zone. Next we have the ElliottWave Oscillator pulling back and crowing within our set parameters for a wave 4 pull back. Also we have our False Breakout Stochastic that has the false breakout yellow dot on the over sold zone, which denote a strong bearish bias. When the stochastic pulls back against this strong bearish bias and crosses in the overbought zone, the there is a high probability of the stochastic returning to the oversold zone. As you can see we have a rules based approach to trading those high probability 5th wave moves, both long and short on Stocks, forex, futures, cryptocurrency and more. Please watch the Video tour of our Elliott Wave Indicator Suite for TradingView >>HERE<<
NYSE:ETRNShort
by tradethefifthcompany
1