EQT Midstream Partners LP (EQM) Releases Quarterly Earnings Results
EQT Midstream Partners LP (NYSE:EQM) issued its quarterly earnings data on Thursday. The company reported $0.60 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.49 by $0.11, Analyst Ratings News reports. The company had revenue of $45.88 million for the quarter, compared to the consensus estimate of $46.83 million. During the same quarter last year, the company posted $0.40 earnings per share. EQT Midstream Partners LP’s revenue was up 33.2% compared to the same quarter last year.
EQT Midstream Partners LP (NYSE:EQM) opened at 51.02 on Thursday. EQT Midstream Partners LP has a 1-year low of $26.81 and a 1-year high of $51.72. The stock’s 50-day moving average is $46.92 and its 200-day moving average is $44.68. The company has a market cap of $1.769 billion and a price-to-earnings ratio of 37.79.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, November 14th. Investors of record on Monday, November 4th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend is Thursday, October 31st. This is an increase from EQT Midstream Partners LP’s previous quarterly dividend of $0.40.
EQM has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of EQT Midstream Partners LP from a “neutral” rating to an “underperform” rating in a research note to investors on Wednesday, October 9th. They now have a $47.80 price target on the stock. On a related note, 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, October 7th. Finally, 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. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. EQT Midstream Partners LP currently has an average 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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