EQT Midstream Partners LP Rating Lowered to Underperform at Zacks (EQM)
EQT Midstream Partners LP (NYSE:EQM) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a report issued on Wednesday, Analyst Ratings.Net reports. They currently have a $47.80 price objective on the stock. Zacks‘ price objective indicates a potential downside of 3.96% from the stock’s previous close.
EQT Midstream Partners LP (NYSE:EQM) traded up 0.44% during mid-day trading on Wednesday, hitting $49.99. 56,924 shares of the company’s stock traded hands. EQT Midstream Partners LP has a 1-year low of $27.70 and a 1-year high of $51.72. The stock’s 50-day moving average is $48.32 and its 200-day moving average is $46.03. The company has a market cap of $1.734 billion and a price-to-earnings ratio of 36.87.
EQT Midstream Partners LP (NYSE:EQM) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.50 EPS for the quarter, meeting the Thomson Reuters 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 quarterly revenue was up 50.8% on a year-over-year basis. Analysts expect that EQT Midstream Partners LP will post $2.22 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on EQM. Analysts at Morgan Stanley downgraded shares of EQT Midstream Partners LP from an “overweight” rating to an “equal weight” rating in a research note to investors on Monday. Separately, 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. Finally, 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. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. EQT Midstream Partners LP presently has a consensus rating of “Buy” and an average price target of $66.78.
EQT Midstream Partners, LP owns, operates, acquires and develops midstream assets in the Appalachian Basin.
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