EQT Midstream Partners LP (NYSE:EQM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors 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. “
Other equities research analysts also recently issued reports about the company. Deutsche Bank AG reiterated a “buy” rating on shares of EQT Midstream Partners in a report on Friday, October 14th. Stifel Nicolaus lifted their target price on EQT Midstream Partners from $78.00 to $82.00 and gave the stock a “hold” rating in a report on Friday, October 14th. Morgan Stanley reiterated a “hold” rating and issued a $83.00 target price on shares of EQT Midstream Partners in a report on Wednesday, September 21st. Finally, Credit Suisse Group AG reiterated a “neutral” rating on shares of EQT Midstream Partners in a report on Tuesday, August 16th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. EQT Midstream Partners presently 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 stock had a trading volume of 209,178 shares. The firm has a market cap of $5.84 billion, a P/E ratio of 14.10 and a beta of 0.94. The company’s 50 day moving average is $74.57 and its 200 day moving average is $76.41. EQT Midstream Partners has a 52 week low of $56.52 and a 52 week high of $80.63.
EQT Midstream Partners (NYSE:EQM) last issued its quarterly earnings data on Thursday, October 27th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.05. The company had revenue of $170.84 million for the quarter, compared to the consensus estimate of $176.24 million. During the same quarter last year, the business earned $1.12 earnings per share. EQT Midstream Partners’s revenue was up 14.8% compared to the same quarter last year. On average, equities analysts predict that EQT Midstream Partners will post $5.22 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 14th. Shareholders of record on Friday, November 4th were paid a $0.815 dividend. This represents a $3.26 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date was Wednesday, November 2nd. This is a boost from EQT Midstream Partners’s previous quarterly dividend of $0.78.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA boosted its position in shares of EQT Midstream Partners by 2.0% in the second quarter. BNP Paribas Arbitrage SA now owns 110,298 shares of the company’s stock valued at $8,857,000 after buying an additional 2,196 shares during the last quarter. Hollencrest Securities LLC bought a new position in shares of EQT Midstream Partners during the second quarter valued at about $305,000. Americafirst Capital Management LLC bought a new position in shares of EQT Midstream Partners during the second quarter valued at about $130,000. Capital One National Association boosted its position in shares of EQT Midstream Partners by 22.5% in the second quarter. Capital One National Association now owns 4,995 shares of the company’s stock valued at $401,000 after buying an additional 919 shares during the last quarter. Finally, Botty Investors LLC bought a new position in shares of EQT Midstream Partners during the second quarter valued at about $300,000.
About EQT Midstream Partners
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.