EQT Midstream Partners (NYSE:EQM) had its price objective reduced by Stifel Nicolaus from $66.00 to $62.00 in a report issued on Friday morning, MarketBeat.com reports. They currently have a buy rating on the pipeline company’s stock.
Several other brokerages have also issued reports on EQM. Jefferies Financial Group started coverage on shares of EQT Midstream Partners in a report on Wednesday, July 25th. They issued a buy rating and a $65.00 price objective on the stock. Wells Fargo & Co lowered shares of EQT Midstream Partners from an outperform rating to a market perform rating and boosted their price objective for the company from $69.00 to $77.00 in a report on Monday, July 30th. Deutsche Bank started coverage on shares of EQT Midstream Partners in a report on Friday, April 20th. They issued a buy rating and a $78.00 price objective on the stock. Royal Bank of Canada restated a hold rating and issued a $61.00 price objective on shares of EQT Midstream Partners in a report on Friday, July 27th. Finally, Zacks Investment Research lowered shares of EQT Midstream Partners from a hold rating to a sell rating in a report on Wednesday, July 4th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. EQT Midstream Partners presently has a consensus rating of Hold and a consensus price target of $64.08.
NYSE EQM opened at $54.68 on Friday. EQT Midstream Partners has a 52 week low of $48.91 and a 52 week high of $77.97. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a market cap of $4.86 billion, a PE ratio of 10.54 and a beta of 0.96.
EQT Midstream Partners (NYSE:EQM) last issued its quarterly earnings data on Thursday, July 26th. The pipeline company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.29). The company had revenue of $269.76 million during the quarter, compared to analysts’ expectations of $247.61 million. EQT Midstream Partners had a net margin of 63.76% and a return on equity of 26.66%. The firm’s quarterly revenue was up 37.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.27 earnings per share. sell-side analysts expect that EQT Midstream Partners will post 5.92 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 14th. Shareholders of record on Friday, August 3rd were paid a dividend of $1.09 per share. The ex-dividend date of this dividend was Thursday, August 2nd. This is a positive change from EQT Midstream Partners’s previous quarterly dividend of $1.07. This represents a $4.36 dividend on an annualized basis and a yield of 7.97%. EQT Midstream Partners’s dividend payout ratio is 84.01%.
In other EQT Midstream Partners news, Director Michael A. Bryson purchased 1,000 shares of the business’s stock in a transaction on Tuesday, May 29th. The shares were bought at an average cost of $55.53 per share, for a total transaction of $55,530.00. Following the completion of the purchase, the director now directly owns 1,175 shares of the company’s stock, valued at $65,247.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
A number of large investors have recently modified their holdings of the business. Tortoise Capital Advisors L.L.C. increased its stake in EQT Midstream Partners by 23.0% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 10,188,782 shares of the pipeline company’s stock worth $525,639,000 after purchasing an additional 1,903,618 shares during the period. Alps Advisors Inc. increased its stake in EQT Midstream Partners by 5.8% during the second quarter. Alps Advisors Inc. now owns 4,871,408 shares of the pipeline company’s stock worth $356,100,000 after purchasing an additional 269,221 shares during the period. Neuberger Berman Group LLC increased its stake in EQT Midstream Partners by 10.9% during the first quarter. Neuberger Berman Group LLC now owns 3,433,206 shares of the pipeline company’s stock worth $202,662,000 after purchasing an additional 338,115 shares during the period. OppenheimerFunds Inc. increased its stake in EQT Midstream Partners by 5.1% during the second quarter. OppenheimerFunds Inc. now owns 2,292,744 shares of the pipeline company’s stock worth $118,283,000 after purchasing an additional 110,454 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in 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 worth $115,347,000 after purchasing an additional 614,562 shares during the period. Institutional investors own 64.11% 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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