Sei Investments Co. reduced its stake in EQT Midstream Partners LP (NYSE:EQM) by 5.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 110,998 shares of the pipeline company’s stock after selling 6,200 shares during the quarter. Sei Investments Co. owned 0.14% of EQT Midstream Partners worth $8,322,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. IFP Advisors Inc raised its holdings in shares of EQT Midstream Partners by 120.5% in the 2nd quarter. IFP Advisors Inc now owns 1,808 shares of the pipeline company’s stock valued at $135,000 after purchasing an additional 988 shares in the last quarter. Saratoga Research & Investment Management purchased a new position in shares of EQT Midstream Partners in the 3rd quarter valued at $186,000. A. D. Beadell Investment Counsel Inc. purchased a new position in shares of EQT Midstream Partners in the 3rd quarter valued at $203,000. Keybank National Association OH purchased a new position in shares of EQT Midstream Partners in the 3rd quarter valued at $259,000. Finally, The Manufacturers Life Insurance Company grew its position in EQT Midstream Partners by 49.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,613 shares of the pipeline company’s stock worth $269,000 after purchasing an additional 1,198 shares during the last quarter. Hedge funds and other institutional investors own 73.74% of the company’s stock.
Several brokerages have recently weighed in on EQM. BidaskClub downgraded shares of EQT Midstream Partners from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 16th. Stifel Nicolaus set a $79.00 price objective on shares of EQT Midstream Partners and gave the company a “hold” rating in a research note on Friday, August 25th. US Capital Advisors cut shares of EQT Midstream Partners from a “buy” rating to a “buy” rating in a research report on Friday, November 17th. Zacks Investment Research cut shares of EQT Midstream Partners from a “hold” rating to a “strong sell” rating in a research report on Monday, October 16th. Finally, Seaport Global Securities began coverage on shares of EQT Midstream Partners in a report on Tuesday, October 10th. They set a “buy” rating and a $96.00 price target for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $90.83.
EQT Midstream Partners LP (NYSE:EQM) traded up $0.83 during midday trading on Thursday, hitting $68.34. 297,690 shares of the stock were exchanged, compared to its average volume of 258,178. The firm has a market capitalization of $5,610.00, a PE ratio of 13.16, a P/E/G ratio of 1.02 and a beta of 0.90. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.52. EQT Midstream Partners LP has a twelve month low of $64.42 and a twelve month high of $82.99.
EQT Midstream Partners (NYSE:EQM) last issued its earnings results on Thursday, October 26th. The pipeline company reported $1.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.02. The company had revenue of $207.20 million for the quarter, compared to analysts’ expectations of $205.29 million. EQT Midstream Partners had a net margin of 65.99% and a return on equity of 25.85%. The firm’s revenue was up 17.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.23 earnings per share. equities analysts forecast that EQT Midstream Partners LP will post 5.63 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Friday, November 3rd were given a dividend of $0.98 per share. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $3.92 annualized dividend and a dividend yield of 5.74%. This is a positive change from EQT Midstream Partners’s previous quarterly dividend of $0.94. EQT Midstream Partners’s dividend payout ratio is currently 74.95%.
About EQT Midstream Partners
EQT Midstream Partners, LP (EQM) owns, operates, acquires and develops midstream assets in the Appalachian Basin. The Company’s segments include Gathering and Transmission. The Gathering segment primarily includes high pressure gathering lines and the Federal Energy Regulatory Commission (FERC)-regulated low pressure gathering system.
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