EQM Midstream Partners (EQM) Receives “Equal Weight” Rating from Barclays

Barclays reissued their equal weight rating on shares of EQM Midstream Partners (NYSE:EQM) in a research note issued to investors on Friday, MarketBeat reports. They currently have a $48.00 price objective on the pipeline company’s stock, down from their previous price objective of $59.00.

A number of other brokerages also recently weighed in on EQM. Bank of America lowered their price target on EQM Midstream Partners from $64.00 to $62.00 and set a neutral rating on the stock in a research report on Tuesday, August 21st. LADENBURG THALM/SH SH lowered their price target on EQM Midstream Partners from $81.00 to $29.00 and set a buy rating on the stock in a research report on Friday, August 17th. Stifel Nicolaus lowered their price target on EQM Midstream Partners from $66.00 to $62.00 and set a buy rating on the stock in a research report on Friday, August 17th. Morgan Stanley lowered their price target on EQM Midstream Partners from $65.00 to $61.00 and set an overweight rating on the stock in a research report on Friday, August 17th. Finally, Citigroup lowered their price target on EQM Midstream Partners to $64.00 and set an overweight rating on the stock in a research report on Tuesday, September 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. EQM Midstream Partners presently has an average rating of Hold and an average target price of $59.00.

NYSE EQM traded up $0.10 during trading on Friday, reaching $46.22. 753,588 shares of the company’s stock were exchanged, compared to its average volume of 868,174. The company has a market cap of $5.62 billion, a PE ratio of 8.91 and a beta of 1.13. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.69. EQM Midstream Partners has a fifty-two week low of $42.87 and a fifty-two week high of $77.97.

EQM Midstream Partners (NYSE:EQM) last announced its quarterly earnings results on Thursday, October 25th. The pipeline company reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.07). The business had revenue of $364.58 million for the quarter, compared to analyst estimates of $356.99 million. EQM Midstream Partners had a return on equity of 22.30% and a net margin of 60.71%. As a group, research analysts anticipate that EQM Midstream Partners will post 6.03 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Stockholders of record on Friday, November 2nd were issued a dividend of $1.115 per share. This represents a $4.46 dividend on an annualized basis and a dividend yield of 9.65%. The ex-dividend date of this dividend was Thursday, November 1st. This is a boost from EQM Midstream Partners’s previous quarterly dividend of $1.09. EQM Midstream Partners’s payout ratio is currently 85.93%.

Several large investors have recently modified their holdings of the company. Clearbridge Investments LLC boosted its holdings in shares of EQM Midstream Partners by 114.2% during the third quarter. Clearbridge Investments LLC now owns 845,347 shares of the pipeline company’s stock worth $44,617,000 after acquiring an additional 450,707 shares during the period. Diversified Trust Co boosted its stake in shares of EQM Midstream Partners by 20.3% in the third quarter. Diversified Trust Co now owns 27,906 shares of the pipeline company’s stock valued at $1,473,000 after buying an additional 4,716 shares during the period. Morgan Stanley boosted its stake in shares of EQM Midstream Partners by 52.5% in the third quarter. Morgan Stanley now owns 886,994 shares of the pipeline company’s stock valued at $46,816,000 after buying an additional 305,261 shares during the period. B. Riley Financial Inc. bought a new stake in shares of EQM Midstream Partners in the third quarter valued at approximately $1,145,000. Finally, Neuberger Berman Group LLC boosted its stake in shares of EQM Midstream Partners by 19.5% in the third quarter. Neuberger Berman Group LLC now owns 4,886,383 shares of the pipeline company’s stock valued at $257,904,000 after buying an additional 796,236 shares during the period. Institutional investors own 68.68% of the company’s stock.

About EQM Midstream Partners

EQM 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 owns 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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Analyst Recommendations for EQM Midstream Partners (NYSE:EQM)

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