Equitrans Midstream Corp Stock Z Score
| ETRNDelisted Stock | USD 12.42 0.06 0.49% |
Equitrans |
Equitrans Midstream Corp Company Z Score Analysis
Equitrans Midstream's Z-Score is a simple linear, multi-factor model that measures the financial health and economic stability of a company. The score is used to predict the probability of a firm going into bankruptcy within next 24 months or two fiscal years from the day stated on the accounting statements used to calculate it. The model uses five fundamental business ratios that are weighted according to algorithm of Professor Edward Altman who developed it in the late 1960s at New York University..
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To calculate a Z-Score, one would need to know a company's current working capital, its total assets and liabilities, and the amount of its latest earnings as well as earnings before interest and tax. Z-Scores can be used to compare the odds of bankruptcy of companies in a similar line of business or firms operating in the same industry. Companies with Z-Scores above 3.1 are generally considered to be stable and healthy with a low probability of bankruptcy. Scores that fall between 1.8 and 3.1 lie in a so-called 'grey area,' with scores of less than 1 indicating the highest probability of distress. Z Score is a used widely measure by financial auditors, accountants, money managers, loan processors, wealth advisers, and day traders. In the last 25 years, many financial models that utilize z-scores proved it to be successful as a predictor of corporate bankruptcy.
CompetitionAccording to the company's disclosures, Equitrans Midstream Corp has a Z Score of 0.0. This is 100.0% lower than that of the Oil, Gas & Consumable Fuels sector and 100.0% lower than that of the Energy industry. The z score for all United States stocks is 100.0% higher than that of the company.
Equitrans Z Score Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Equitrans Midstream's direct or indirect competition against its Z Score to detect undervalued stocks with similar characteristics or determine the stocks which would be a good addition to a portfolio. Peer analysis of Equitrans Midstream could also be used in its relative valuation, which is a method of valuing Equitrans Midstream by comparing valuation metrics of similar companies.Equitrans Midstream is currently under evaluation in z score category among its peers.
Equitrans Fundamentals
| Return On Equity | 0.22 | |||
| Return On Asset | 0.0386 | |||
| Profit Margin | 0.32 % | |||
| Operating Margin | 0.49 % | |||
| Current Valuation | 14.33 B | |||
| Shares Outstanding | 436.94 M | |||
| Shares Owned By Insiders | 0.69 % | |||
| Shares Owned By Institutions | 87.36 % | |||
| Number Of Shares Shorted | 11.13 M | |||
| Price To Earning | 7.56 X | |||
| Price To Book | 5.28 X | |||
| Price To Sales | 3.95 X | |||
| Revenue | 1.39 B | |||
| Gross Profit | 1.2 B | |||
| EBITDA | 1.21 B | |||
| Net Income | 454.75 M | |||
| Cash And Equivalents | 114.52 M | |||
| Cash Per Share | 0.26 X | |||
| Total Debt | 7.59 B | |||
| Debt To Equity | 2.52 % | |||
| Current Ratio | 1.30 X | |||
| Book Value Per Share | 2.44 X | |||
| Cash Flow From Operations | 1.02 B | |||
| Short Ratio | 2.06 X | |||
| Earnings Per Share | 0.90 X | |||
| Price To Earnings To Growth | 0.60 X | |||
| Target Price | 13.63 | |||
| Number Of Employees | 773 | |||
| Beta | 2.02 | |||
| Market Capitalization | 5.43 B | |||
| Total Asset | 11.71 B | |||
| Retained Earnings | (2.93 B) | |||
| Working Capital | (187.37 M) | |||
| Current Asset | 362.15 M | |||
| Current Liabilities | 364.79 M | |||
| Annual Yield | 0.05 % | |||
| Net Asset | 11.71 B | |||
| Last Dividend Paid | 0.3 |
About Equitrans Midstream Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Equitrans Midstream Corp's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Equitrans Midstream using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Equitrans Midstream Corp based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Pair Trading with Equitrans Midstream
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Equitrans Midstream position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Equitrans Midstream will appreciate offsetting losses from the drop in the long position's value.Moving against Equitrans Stock
The ability to find closely correlated positions to Equitrans Midstream could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Equitrans Midstream when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Equitrans Midstream - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Equitrans Midstream Corp to buy it.
The correlation of Equitrans Midstream is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Equitrans Midstream moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Equitrans Midstream Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Equitrans Midstream can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Investing Opportunities to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area. You can also try the Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
Other Consideration for investing in Equitrans Stock
If you are still planning to invest in Equitrans Midstream Corp check if it may still be traded through OTC markets such as Pink Sheets or OTC Bulletin Board. You may also purchase it directly from the company, but this is not always possible and may require contacting the company directly. Please note that delisted stocks are often considered to be more risky investments, as they are no longer subject to the same regulatory and reporting requirements as listed stocks. Therefore, it is essential to carefully research the Equitrans Midstream's history and understand the potential risks before investing.
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