Deutsche Bank began coverage on shares of EQT Midstream Partners (NYSE:EQM) in a research report report published on Friday. The brokerage issued a buy rating and a $78.00 price objective on the pipeline company’s stock.
Other research analysts have also issued reports about the company. Wells Fargo reaffirmed an outperform rating and set a $77.00 target price (down from $85.00) on shares of EQT Midstream Partners in a research report on Wednesday, February 21st. Seaport Global Securities raised EQT Midstream Partners from a neutral rating to a buy rating and lowered their target price for the stock from $70.00 to $67.00 in a research report on Monday, April 9th. Stifel Nicolaus set a $90.00 target price on EQT Midstream Partners and gave the stock a buy rating in a research report on Wednesday, January 17th. Wolfe Research lowered EQT Midstream Partners from an outperform rating to a peer perform rating and lowered their target price for the stock from $85.00 to $76.00 in a research report on Wednesday, February 14th. Finally, Zacks Investment Research lowered EQT Midstream Partners from a hold rating to a sell rating in a research report on Monday, April 2nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. EQT Midstream Partners presently has an average rating of Hold and an average target price of $77.00.
NYSE:EQM traded down $0.43 during trading hours on Friday, hitting $60.00. 199,719 shares of the company were exchanged, compared to its average volume of 344,760. The firm has a market cap of $4,869.56, a P/E ratio of 11.56, a P/E/G ratio of 0.86 and a beta of 0.94. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.54. EQT Midstream Partners has a one year low of $55.40 and a one year high of $79.53.
EQT Midstream Partners (NYSE:EQM) last announced its earnings results on Thursday, February 15th. The pipeline company reported $1.28 earnings per share (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 the consensus estimate of $226.22 million. EQT Midstream Partners had a return on equity of 25.24% and a net margin of 63.33%. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.31 earnings per share. equities research analysts expect that EQT Midstream Partners will post 5.87 EPS for the current year.
Several hedge funds have recently bought and sold shares of EQM. Center Coast Capital Advisors LP bought a new position in shares of EQT Midstream Partners in the 4th quarter worth about $57,976,000. Kayne Anderson Capital Advisors LP raised its position in shares of EQT Midstream Partners by 6.6% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 2,671,595 shares of the pipeline company’s stock worth $195,277,000 after acquiring an additional 164,303 shares in the last quarter. Global X Management Co. LLC raised its position in shares of EQT Midstream Partners by 33.7% in the 4th quarter. Global X Management Co. LLC now owns 558,716 shares of the pipeline company’s stock worth $40,842,000 after acquiring an additional 140,824 shares in the last quarter. Anchor Bolt Capital LP bought a new position in shares of EQT Midstream Partners in the 4th quarter worth about $9,728,000. Finally, Cushing Asset Management LP raised its position in shares of EQT Midstream Partners by 15.8% in the 4th quarter. Cushing Asset Management LP now owns 966,662 shares of the pipeline company’s stock worth $70,663,000 after acquiring an additional 131,809 shares in the last quarter. 71.35% of the stock is owned by hedge funds and other institutional investors.
About EQT Midstream Partners
EQT Midstream Partners, LP provides natural gas gathering, transmission, and storage services in Pennsylvania, West Virginia, and Ohio. The company owns, operates, acquires, and develops midstream assets in the Appalachian Basin. The company also owned approximately 300 miles of high pressure gathering lines and 1,500 miles of federal energy regulatory commission (FERC) regulated low pressure gathering lines; and approximately 950 miles of FERC regulated interstate pipelines.
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