Zacks Investment Research upgraded shares of EQT Midstream Partners (NYSE:EQM) from a sell rating to a hold rating in a research report report published on Monday.
According to Zacks, “EQT Midstream Partners, LP is formed to own, operate, acquire and develop midstream assets in the Appalachian Basin. The Company provides substantially all of its natural gas transmission, storage and gathering services under contracts with fixed reservation and/or usage fees. It operates primarily in the Marcellus Shale area of southern Pennsylvania and northern West Virginia. EQT Midstream Partners, LP is based in Pittsburgh, Pennsylvania. “
Other equities research analysts have also recently issued reports about the company. Wolfe Research cut EQT Midstream Partners from an outperform rating to a peer perform rating and dropped their price target for the company from $85.00 to $76.00 in a report on Wednesday, February 14th. ValuEngine cut EQT Midstream Partners from a buy rating to a hold rating in a report on Friday, February 2nd. Stifel Nicolaus set a $90.00 price target on EQT Midstream Partners and gave the company a buy rating in a report on Wednesday, January 17th. US Capital Advisors cut EQT Midstream Partners from a buy rating to a buy rating in a report on Friday, November 17th. Finally, Credit Suisse Group assumed coverage on EQT Midstream Partners in a report on Friday, January 5th. They set a neutral rating and a $71.00 price target for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. EQT Midstream Partners has a consensus rating of Hold and a consensus price target of $85.25.
Shares of EQT Midstream Partners (EQM) opened at $66.95 on Monday. EQT Midstream Partners has a twelve month low of $64.42 and a twelve month high of $82.99. The firm has a market capitalization of $5,490.00, a price-to-earnings ratio of 12.90, a P/E/G ratio of 0.93 and a beta of 0.77. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.54.
EQT Midstream Partners (NYSE:EQM) last released its quarterly earnings results on Thursday, February 15th. The pipeline company reported $1.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.55 by ($0.27). EQT Midstream Partners had a net margin of 63.33% and a return on equity of 25.24%. The business had revenue of $224.51 million for the quarter, compared to analyst estimates of $226.22 million. During the same period in the prior year, the business earned $1.31 earnings per share. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. equities analysts anticipate that EQT Midstream Partners will post 5.98 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Friday, February 2nd were paid a $1.025 dividend. This is a boost from EQT Midstream Partners’s previous quarterly dividend of $0.98. This represents a $4.10 annualized dividend and a dividend yield of 6.12%. The ex-dividend date was Thursday, February 1st. EQT Midstream Partners’s dividend payout ratio (DPR) is 79.00%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dearborn Partners LLC increased its stake in shares of EQT Midstream Partners by 26.3% in the 4th quarter. Dearborn Partners LLC now owns 3,456 shares of the pipeline company’s stock valued at $253,000 after buying an additional 719 shares during the period. Alliancebernstein L.P. increased its stake in shares of EQT Midstream Partners by 5.9% in the 2nd quarter. Alliancebernstein L.P. now owns 14,356 shares of the pipeline company’s stock valued at $1,071,000 after buying an additional 803 shares during the period. Oppenheimer Asset Management Inc. increased its stake in shares of EQT Midstream Partners by 14.3% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 6,721 shares of the pipeline company’s stock valued at $504,000 after buying an additional 842 shares during the period. FDx Advisors Inc. increased its stake in shares of EQT Midstream Partners by 15.3% in the 4th quarter. FDx Advisors Inc. now owns 7,765 shares of the pipeline company’s stock valued at $568,000 after buying an additional 1,030 shares during the period. Finally, Janney Montgomery Scott LLC increased its stake in shares of EQT Midstream Partners by 3.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 35,320 shares of the pipeline company’s stock valued at $2,648,000 after buying an additional 1,051 shares during the period. 74.89% of the stock is owned by institutional investors.
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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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