EQT Midstream Partners (NYSE:EQM) had its target price cut by investment analysts at Barclays from $60.00 to $59.00 in a research report issued on Friday, Stock Target Advisor reports. The firm presently has an “overweight” rating on the pipeline company’s stock. Barclays’ price objective would indicate a potential upside of 14.70% from the stock’s previous close.
A number of other research analysts have also recently weighed in on EQM. Jefferies Financial Group assumed coverage on shares of EQT Midstream Partners in a research note on Wednesday, July 25th. They set a “buy” rating and a $65.00 price objective for the company. Credit Suisse Group assumed coverage on shares of EQT Midstream Partners in a research note on Thursday. They set a “neutral” rating and a $57.00 price objective for the company. Zacks Investment Research raised shares of EQT Midstream Partners from a “sell” rating to a “hold” rating in a research note on Monday, July 16th. Bank of America decreased their target price on shares of EQT Midstream Partners from $66.00 to $64.00 and set a “neutral” rating on the stock in a research report on Friday, July 27th. Finally, Stifel Nicolaus decreased their target price on shares of EQT Midstream Partners from $73.00 to $66.00 and set a “buy” rating on the stock in a research report on Friday, July 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $62.43.
Shares of EQM opened at $51.44 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.42 and a quick ratio of 1.42. EQT Midstream Partners has a 1-year low of $48.91 and a 1-year high of $77.97. The company has a market cap of $4.56 billion, a PE ratio of 9.91 and a beta of 1.07.
EQT Midstream Partners (NYSE:EQM) last issued its quarterly earnings data on Thursday, July 26th. The pipeline company reported $1.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.38 by ($0.29). EQT Midstream Partners had a return on equity of 26.66% and a net margin of 63.76%. The business had revenue of $269.76 million for the quarter, compared to analysts’ expectations of $247.61 million. During the same period last year, the business earned $1.27 earnings per share. The company’s revenue for the quarter was up 37.1% on a year-over-year basis. As a group, sell-side analysts expect that EQT Midstream Partners will post 5.8 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in EQM. Ostrum Asset Management acquired a new stake in EQT Midstream Partners during the first quarter worth approximately $241,000. Keybank National Association OH boosted its holdings in shares of EQT Midstream Partners by 26.2% in the 2nd quarter. Keybank National Association OH now owns 4,753 shares of the pipeline company’s stock valued at $245,000 after purchasing an additional 987 shares during the last quarter. Nwam LLC acquired a new position in shares of EQT Midstream Partners in the 3rd quarter valued at $278,000. Advisory Services Network LLC boosted its holdings in shares of EQT Midstream Partners by 100.0% in the 2nd quarter. Advisory Services Network LLC now owns 5,200 shares of the pipeline company’s stock valued at $283,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Lake Street Advisors Group LLC acquired a new position in shares of EQT Midstream Partners in the 2nd quarter valued at $298,000. Hedge funds and other institutional investors own 65.72% of the company’s stock.
EQT Midstream Partners Company 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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