Neuberger Berman Group LLC increased its position in EQT Midstream Partners (NYSE:EQM) by 10.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,433,206 shares of the pipeline company’s stock after buying an additional 338,115 shares during the period. Neuberger Berman Group LLC owned about 4.26% of EQT Midstream Partners worth $202,662,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in EQM. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in EQT Midstream Partners in the fourth quarter valued at approximately $115,000. Captrust Financial Advisors purchased a new stake in EQT Midstream Partners in the fourth quarter valued at approximately $122,000. Stuart Chaussee & Associates Inc. purchased a new stake in EQT Midstream Partners in the fourth quarter valued at approximately $181,000. Advisory Services Network LLC grew its holdings in EQT Midstream Partners by 95.9% in the fourth quarter. Advisory Services Network LLC now owns 2,600 shares of the pipeline company’s stock valued at $190,000 after purchasing an additional 1,273 shares during the period. Finally, V Wealth Management LLC purchased a new stake in EQT Midstream Partners in the fourth quarter valued at approximately $214,000. Hedge funds and other institutional investors own 70.81% of the company’s stock.
EQM opened at $53.73 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.59. EQT Midstream Partners has a 52-week low of $52.29 and a 52-week high of $53.56. The company has a market cap of $4.21 billion, a price-to-earnings ratio of 9.60, a price-to-earnings-growth ratio of 0.75 and a beta of 0.92.
EQT Midstream Partners (NYSE:EQM) last released its quarterly earnings data on Thursday, April 26th. The pipeline company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.19. EQT Midstream Partners had a net margin of 65.11% and a return on equity of 26.35%. The company had revenue of $232.80 million during the quarter, compared to the consensus estimate of $232.38 million. During the same period in the previous year, the firm earned $1.36 earnings per share. EQT Midstream Partners’s revenue for the quarter was up 16.3% on a year-over-year basis. research analysts predict that EQT Midstream Partners will post 5.81 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, May 4th will be paid a dividend of $1.065 per share. This is an increase from EQT Midstream Partners’s previous quarterly dividend of $1.03. This represents a $4.26 annualized dividend and a yield of 7.93%. The ex-dividend date is Thursday, May 3rd. EQT Midstream Partners’s payout ratio is currently 82.08%.
A number of equities research analysts recently issued reports on EQM shares. Zacks Investment Research upgraded shares of EQT Midstream Partners from a “sell” rating to a “hold” rating in a report on Monday, February 19th. Morgan Stanley lowered their target price on shares of EQT Midstream Partners from $83.00 to $77.00 and set an “overweight” rating for the company in a report on Friday, March 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $84.00 target price (up from $74.00) on shares of EQT Midstream Partners in a report on Monday, February 12th. Bank of America restated a “neutral” rating and issued a $66.00 target price (down from $81.00) on shares of EQT Midstream Partners in a report on Wednesday, March 21st. Finally, Seaport Global Securities downgraded shares of EQT Midstream Partners from a “buy” rating to a “neutral” rating in a report on Tuesday, February 20th. Three analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. EQT Midstream Partners has a consensus rating of “Hold” and a consensus target price of $75.73.
EQT Midstream Partners Profile
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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