Todays Report: Today, EQT Midstream Partners LP (EQM) Lowered by The Zacks Investment Research

Today, EQT Midstream Partners LP (EQM) Lowered by The Zacks Investment Research

EQT Midstream Partners LP (NYSE:EQM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.

According to Zacks, “EQT Midstream Partners, LP is formed to own, operate, acquire and develop midstream assets in the Appalachian Basin. The Company provides substantially all of its natural gas transmission, storage and gathering services under contracts with fixed reservation and/or usage fees. It operates primarily in the Marcellus Shale area of southern Pennsylvania and northern West Virginia. EQT Midstream Partners, LP is based in Pittsburgh, Pennsylvania. “

A number of other equities analysts also recently commented on EQM. Credit Suisse Group AG reiterated a “neutral” rating on shares of EQT Midstream Partners in a research report on Tuesday, August 16th. Morgan Stanley reiterated a “hold” rating and set a $83.00 price objective on shares of EQT Midstream Partners in a research report on Wednesday, September 21st. Stifel Nicolaus lifted their price objective on EQT Midstream Partners from $78.00 to $82.00 and gave the stock a “hold” rating in a research report on Friday, October 14th. Finally, Deutsche Bank AG reiterated a “buy” rating on shares of EQT Midstream Partners in a research report on Friday, October 14th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $83.81.

Shares of EQT Midstream Partners (NYSE:EQM) traded down 2.41% during midday trading on Monday, hitting $72.51. The company’s stock had a trading volume of 209,178 shares. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of 14.10 and a beta of 0.94. EQT Midstream Partners has a 12-month low of $56.52 and a 12-month high of $80.63. The firm has a 50-day moving average of $74.57 and a 200 day moving average of $76.41.

EQT Midstream Partners (NYSE:EQM) last released its earnings results on Thursday, October 27th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.05. The firm earned $170.84 million during the quarter, compared to analysts’ expectations of $176.24 million. The business’s revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.12 EPS. On average, equities research analysts predict that EQT Midstream Partners will post $5.22 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Friday, November 4th were paid a $0.815 dividend. The ex-dividend date of this dividend was Wednesday, November 2nd. This is a boost from EQT Midstream Partners’s previous quarterly dividend of $0.78. This represents a $3.26 dividend on an annualized basis and a dividend yield of 4.50%.

Several large investors have recently modified their holdings of the stock. Signaturefd LLC boosted its stake in shares of EQT Midstream Partners by 3.2% in the second quarter. Signaturefd LLC now owns 3,225 shares of the company’s stock worth $259,000 after buying an additional 100 shares during the last quarter. Conning Inc. boosted its stake in shares of EQT Midstream Partners by 0.3% in the second quarter. Conning Inc. now owns 38,380 shares of the company’s stock worth $3,082,000 after buying an additional 112 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of EQT Midstream Partners by 0.9% in the second quarter. Van ECK Associates Corp now owns 14,066 shares of the company’s stock worth $1,129,000 after buying an additional 123 shares during the last quarter. BlackRock Inc. boosted its stake in shares of EQT Midstream Partners by 2.3% in the third quarter. BlackRock Inc. now owns 8,257 shares of the company’s stock worth $629,000 after buying an additional 183 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of EQT Midstream Partners by 2.4% in the second quarter. Alliancebernstein L.P. now owns 8,269 shares of the company’s stock worth $664,000 after buying an additional 190 shares during the last quarter.

EQT Midstream Partners Company Profile

EQT Midstream Partners, LP (EQM) owns, operates, acquires and develops midstream assets in the Appalachian Basin. The Company operates through two segments: Transmission and storage, which includes its Federal Energy Regulatory Commission (FERC)-regulated interstate pipeline and storage business, and Gathering, which includes high pressure gathering lines and the FERC-regulated low pressure gathering system.

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