B. Riley Financial Inc. Purchases Shares of 21,696 EQM Midstream Partners LP (EQM)

B. Riley Financial Inc. purchased a new stake in shares of EQM Midstream Partners LP (NYSE:EQM) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 21,696 shares of the pipeline company’s stock, valued at approximately $1,145,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Gryphon Financial Partners LLC boosted its position in EQM Midstream Partners by 100.2% during the third quarter. Gryphon Financial Partners LLC now owns 3,791 shares of the pipeline company’s stock valued at $200,000 after acquiring an additional 1,897 shares during the last quarter. Gratus Capital LLC bought a new stake in EQM Midstream Partners during the third quarter valued at $203,000. Cambridge Investment Research Advisors Inc. bought a new stake in EQM Midstream Partners during the third quarter valued at $244,000. Keybank National Association OH boosted its position in EQM Midstream Partners by 26.2% during the second quarter. Keybank National Association OH now owns 4,753 shares of the pipeline company’s stock valued at $245,000 after acquiring an additional 987 shares during the last quarter. Finally, Berman Capital Advisors LLC bought a new position in shares of EQM Midstream Partners during the 3rd quarter worth about $261,000. 68.53% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have recently issued reports on EQM shares. Citigroup cut their price objective on shares of EQM Midstream Partners to $64.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 25th. Barclays cut their price objective on shares of EQM Midstream Partners from $60.00 to $59.00 and set an “overweight” rating on the stock in a research report on Friday, October 12th. Stifel Nicolaus cut their price objective on shares of EQM Midstream Partners from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, October 9th. Wolfe Research raised shares of EQM Midstream Partners from a “peer perform” rating to an “outperform” rating and set a $66.00 price objective on the stock in a research report on Tuesday, November 20th. Finally, Credit Suisse Group started coverage on shares of EQM Midstream Partners in a research report on Thursday, October 11th. They set a “neutral” rating and a $57.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $58.33.

Shares of NYSE EQM opened at $44.85 on Tuesday. EQM Midstream Partners LP has a fifty-two week low of $42.87 and a fifty-two week high of $77.97. The stock has a market capitalization of $5.71 billion, a P/E ratio of 8.64 and a beta of 1.13. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.69.

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 the Thomson Reuters’ consensus estimate of $1.21 by ($0.07). EQM Midstream Partners had a net margin of 60.71% and a return on equity of 22.30%. The business had revenue of $364.58 million during the quarter, compared to the consensus estimate of $356.99 million. As a group, sell-side analysts expect that EQM Midstream Partners LP will post 6.03 earnings per share for the current year.

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EQM Midstream Partners Company Profile

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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Institutional Ownership by Quarter for EQM Midstream Partners (NYSE:EQM)

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