Analysts expect that EQT Midstream Partners (NYSE:EQM) will announce sales of $239.97 million for the current quarter, Zacks reports. Four analysts have provided estimates for EQT Midstream Partners’ earnings, with estimates ranging from $228.50 million to $248.20 million. EQT Midstream Partners reported sales of $198.97 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 20.6%. The company is scheduled to report its next earnings report on Thursday, July 26th.
According to Zacks, analysts expect that EQT Midstream Partners will report full-year sales of $1.10 billion for the current fiscal year, with estimates ranging from $949.10 million to $1.24 billion. For the next year, analysts anticipate that the firm will post sales of $1.65 billion per share, with estimates ranging from $1.22 billion to $2.46 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for EQT Midstream Partners.
EQT Midstream Partners (NYSE:EQM) last posted its quarterly earnings data on Thursday, April 26th. The pipeline company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.19. The business had revenue of $232.80 million during the quarter, compared to the consensus estimate of $232.38 million. EQT Midstream Partners had a return on equity of 26.35% and a net margin of 65.11%. The firm’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.36 earnings per share.
Several equities analysts have recently weighed in on the company. ValuEngine downgraded EQT Midstream Partners from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Wolfe Research restated a “market perform” rating on shares of EQT Midstream Partners in a report on Friday, February 16th. Stifel Nicolaus reduced their price target on EQT Midstream Partners from $90.00 to $89.00 and set a “buy” rating for the company in a report on Friday, February 16th. Royal Bank of Canada restated a “sector perform” rating and set a $84.00 price target (up from $74.00) on shares of EQT Midstream Partners in a report on Monday, February 12th. Finally, Zacks Investment Research upgraded EQT Midstream Partners from a “sell” rating to a “hold” rating in a report on Monday, February 19th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $75.73.
Several institutional investors have recently added to or reduced their stakes in EQM. Summit Trail Advisors LLC boosted its position in shares of EQT Midstream Partners by 4,273.8% during the first quarter. Summit Trail Advisors LLC now owns 880,177 shares of the pipeline company’s stock valued at $880,000 after buying an additional 860,053 shares during the last quarter. Brookfield Asset Management Inc. boosted its position in shares of EQT Midstream Partners by 556.1% during the first quarter. Brookfield Asset Management Inc. now owns 994,647 shares of the pipeline company’s stock valued at $58,714,000 after buying an additional 843,057 shares during the last quarter. Center Coast Capital Advisors LP purchased a new stake in shares of EQT Midstream Partners during the fourth quarter valued at $57,976,000. JPMorgan Chase & Co. boosted its position in shares of EQT Midstream Partners by 45.9% during the first quarter. JPMorgan Chase & Co. now owns 1,954,024 shares of the pipeline company’s stock valued at $115,347,000 after buying an additional 614,562 shares during the last quarter. Finally, Tortoise Capital Advisors L.L.C. boosted its position in shares of EQT Midstream Partners by 7.4% during the first quarter. Tortoise Capital Advisors L.L.C. now owns 8,285,164 shares of the pipeline company’s stock valued at $489,073,000 after buying an additional 567,332 shares during the last quarter. 72.69% of the stock is currently owned by institutional investors.
EQT Midstream Partners traded up $1.29, reaching $56.12, during trading on Friday, according to Marketbeat Ratings. The stock had a trading volume of 505,459 shares, compared to its average volume of 502,730. EQT Midstream Partners has a one year low of $50.89 and a one year high of $78.75. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.59. The company has a market cap of $4.37 billion, a price-to-earnings ratio of 10.81 and a beta of 0.92.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Friday, May 4th were given a dividend of $1.065 per share. The ex-dividend date was Thursday, May 3rd. This is a boost from EQT Midstream Partners’s previous quarterly dividend of $1.03. This represents a $4.26 annualized dividend and a dividend yield of 7.59%. EQT Midstream Partners’s dividend payout ratio (DPR) is 82.08%.
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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