Equities analysts expect that EQM Midstream Partners LP (NYSE:EQM) will post $422.65 million in sales for the current quarter, according to Zacks. Four analysts have made estimates for EQM Midstream Partners’ earnings, with the lowest sales estimate coming in at $401.40 million and the highest estimate coming in at $449.60 million. EQM Midstream Partners posted sales of $364.58 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 15.9%. The company is scheduled to announce its next quarterly earnings report on Thursday, October 24th.
According to Zacks, analysts expect that EQM Midstream Partners will report full-year sales of $1.65 billion for the current year, with estimates ranging from $1.60 billion to $1.71 billion. For the next year, analysts anticipate that the firm will post sales of $1.79 billion, with estimates ranging from $1.71 billion to $1.88 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that cover EQM Midstream Partners.
EQM Midstream Partners (NYSE:EQM) last posted its quarterly earnings results on Tuesday, July 30th. The pipeline company reported $0.93 EPS for the quarter, missing the Zacks’ consensus estimate of $0.97 by ($0.04). The firm had revenue of $406.17 million during the quarter, compared to analyst estimates of $401.94 million. EQM Midstream Partners had a return on equity of 16.66% and a net margin of 32.78%.
Several analysts have weighed in on the stock. Zacks Investment Research lowered shares of EQM Midstream Partners from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Stifel Nicolaus set a $46.00 target price on EQM Midstream Partners and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Credit Suisse Group cut their target price on EQM Midstream Partners from $45.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, August 1st. Royal Bank of Canada set a $42.00 price target on shares of EQM Midstream Partners and gave the company a “hold” rating in a report on Wednesday, July 31st. Finally, UBS Group started coverage on shares of EQM Midstream Partners in a report on Tuesday, August 6th. They set a “neutral” rating and a $36.00 price target for the company. Ten equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $48.36.
NYSE EQM traded up $0.22 on Friday, hitting $30.26. 457,330 shares of the stock traded hands, compared to its average volume of 658,536. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.92. The stock has a 50-day moving average of $33.19 and a 200 day moving average of $41.35. EQM Midstream Partners has a twelve month low of $28.44 and a twelve month high of $57.10. The company has a market capitalization of $6.26 billion, a P/E ratio of 5.97 and a beta of 0.97.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Friday, August 2nd were given a dividend of $1.16 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $4.64 dividend on an annualized basis and a yield of 15.33%. EQM Midstream Partners’s dividend payout ratio (DPR) is presently 91.52%.
Several large investors have recently added to or reduced their stakes in EQM. First Republic Investment Management Inc. bought a new stake in EQM Midstream Partners in the first quarter worth approximately $583,000. California Public Employees Retirement System grew its holdings in shares of EQM Midstream Partners by 7.6% during the first quarter. California Public Employees Retirement System now owns 163,533 shares of the pipeline company’s stock worth $7,550,000 after purchasing an additional 11,586 shares during the last quarter. Optimum Investment Advisors acquired a new stake in shares of EQM Midstream Partners in the first quarter valued at $46,000. Stephens Inc. AR increased its stake in shares of EQM Midstream Partners by 3.3% in the first quarter. Stephens Inc. AR now owns 7,754 shares of the pipeline company’s stock valued at $358,000 after buying an additional 247 shares in the last quarter. Finally, Stokes Capital Advisors LLC raised its holdings in shares of EQM Midstream Partners by 5.5% in the first quarter. Stokes Capital Advisors LLC now owns 7,620 shares of the pipeline company’s stock valued at $352,000 after buying an additional 400 shares during the last quarter. 41.93% of the stock is owned by institutional investors.
EQM Midstream Partners Company Profile
EQM Midstream Partners, LP owns, operates, acquires, and develops midstream assets in the Appalachian Basin. It operates through three segments: Gathering, Transmission, and Water. As of December 31, 2018, the company owned approximately 700 miles of high-pressure gathering lines and 1,500 miles of Federal Energy Regulatory Commission (FERC) regulated low-pressure gathering lines; approximately 950 miles of FERC regulated interstate pipelines; and approximately 160 miles of pipelines.
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