EQT Midstream Partners LP Downgraded to “Equal Weight” at Morgan Stanley (EQM)
EQT Midstream Partners LP (NYSE:EQM) was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Monday, American Banking and Market News reports.
EQT Midstream Partners LP (NYSE:EQM) traded down 0.02% during mid-day trading on Monday, hitting $50.21. 94,488 shares of the company’s stock traded hands. EQT Midstream Partners LP has a 52 week low of $27.70 and a 52 week high of $51.72. The stock’s 50-day moving average is $48.01 and its 200-day moving average is $45.77. The company has a market cap of $1.741 billion and a price-to-earnings ratio of 37.20.
EQT Midstream Partners LP (NYSE:EQM) last released its earnings data on Thursday, July 25th. The company reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50. The company had revenue of $44.84 million for the quarter, compared to the consensus estimate of $42.44 million. The company’s revenue for the quarter was up 50.8% on a year-over-year basis. On average, analysts predict that EQT Midstream Partners LP will post $2.22 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Societe Generale raised their price target on shares of EQT Midstream Partners LP from $85.00 to $94.00 in a research note to investors on Wednesday, October 2nd. They now have a “hold” rating on the stock. Separately, analysts at Goldman Sachs Group Inc. initiated coverage on shares of EQT Midstream Partners LP in a research note to investors on Monday, September 30th. They set a “buy” rating and a $59.00 price target on the stock. Finally, analysts at BMO Capital Markets raised their price target on shares of EQT Midstream Partners LP from $110.00 to $120.00 in a research note to investors on Monday, September 16th. They now have an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $67.16.
EQT Midstream Partners, LP owns, operates, acquires and develops midstream assets in the Appalachian Basin.
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