Brown Advisory Inc. bought a new stake in EQT Midstream Partners LP (NYSE:EQM) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,374 shares of the pipeline company’s stock, valued at approximately $319,000.
A number of other hedge funds also recently added to or reduced their stakes in EQM. Center Coast Capital Advisors LP purchased a new stake in EQT Midstream Partners during the fourth quarter worth about $57,976,000. Alps Advisors Inc. increased its position in shares of EQT Midstream Partners by 11.2% in the third quarter. Alps Advisors Inc. now owns 4,761,137 shares of the pipeline company’s stock worth $356,942,000 after acquiring an additional 480,995 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of EQT Midstream Partners by 20.8% in the third quarter. JPMorgan Chase & Co. now owns 1,271,917 shares of the pipeline company’s stock valued at $93,817,000 after purchasing an additional 219,261 shares during the period. Cadence Capital Management LLC purchased a new position in shares of EQT Midstream Partners in the third quarter valued at $11,963,000. Finally, Global X Management Co. LLC boosted its stake in shares of EQT Midstream Partners by 33.7% in the fourth quarter. Global X Management Co. LLC now owns 558,716 shares of the pipeline company’s stock valued at $40,842,000 after purchasing an additional 140,824 shares during the period. 71.42% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on the stock. Wolfe Research downgraded shares of EQT Midstream Partners from an “outperform” rating to a “peer perform” rating and decreased their target price for the company from $85.00 to $76.00 in a research note on Wednesday, February 14th. Zacks Investment Research downgraded shares of EQT Midstream Partners from a “hold” rating to a “sell” rating in a research note on Thursday, January 18th. Wells Fargo & Co reiterated an “outperform” rating and set a $77.00 price objective (down from $85.00) on shares of EQT Midstream Partners in a research note on Wednesday, February 21st. Bank of America began coverage on shares of EQT Midstream Partners in a report on Tuesday, January 9th. They set a “buy” rating and a $89.00 target price on the stock. Finally, Stifel Nicolaus set a $90.00 target price on shares of EQT Midstream Partners and gave the stock a “buy” rating in a report on Wednesday, January 17th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $84.20.
EQT Midstream Partners LP (NYSE EQM) traded down $0.54 during mid-day trading on Wednesday, hitting $62.87. 273,999 shares of the company were exchanged, compared to its average volume of 425,327. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.69 and a current ratio of 0.69. EQT Midstream Partners LP has a 1-year low of $59.96 and a 1-year high of $79.93. The firm has a market cap of $5,200.00, a PE ratio of 12.22, a PEG ratio of 0.92 and a beta of 0.92.
EQT Midstream Partners (NYSE:EQM) last released its earnings results on Thursday, February 15th. The pipeline company reported $1.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.55 by ($0.27). The company had revenue of $224.51 million for the quarter, compared to analyst estimates of $226.22 million. EQT Midstream Partners had a net margin of 63.33% and a return on equity of 25.24%. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.31 EPS. analysts expect that EQT Midstream Partners LP will post 5.67 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Friday, February 2nd were paid a dividend of $1.025 per share. This is a boost from EQT Midstream Partners’s previous quarterly dividend of $0.98. The ex-dividend date was Thursday, February 1st. This represents a $4.10 annualized dividend and a yield of 6.52%. EQT Midstream Partners’s dividend payout ratio (DPR) is presently 79.00%.
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EQT Midstream Partners Profile
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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