EQT Midstream Partners LP (NYSE:EQM) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday. The firm presently has a $86.00 price target on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 15.16% from the company’s current price.

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. “

Separately, Credit Suisse Group AG reiterated a “neutral” rating on shares of EQT Midstream Partners in a report on Tuesday, August 16th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $89.85.

Analyst Recommendations for EQT Midstream Partners (NYSE:EQM)

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EQT Midstream Partners (NYSE:EQM) traded down 1.79% during mid-day trading on Tuesday, hitting $74.68. The company’s stock had a trading volume of 139,251 shares. EQT Midstream Partners has a 12-month low of $56.52 and a 12-month high of $80.63. The firm’s 50-day moving average is $78.05 and its 200-day moving average is $76.13. The company has a market cap of $6.02 billion, a P/E ratio of 14.77 and a beta of 0.94.

EQT Midstream Partners (NYSE:EQM) last announced its quarterly earnings results on Thursday, July 28th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.12. The firm earned $172 million during the quarter, compared to analysts’ expectations of $172.47 million. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.12 EPS. Analysts predict that EQT Midstream Partners will post $5.07 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in EQM. Zions Bancorporation purchased a new position in EQT Midstream Partners during the first quarter valued at about $113,000. Americafirst Capital Management LLC purchased a new position in EQT Midstream Partners during the second quarter valued at about $130,000. CENTRAL TRUST Co increased its position in EQT Midstream Partners by 31.3% in the second quarter. CENTRAL TRUST Co now owns 1,699 shares of the company’s stock valued at $136,000 after buying an additional 405 shares during the last quarter. Solaris Asset Management LLC increased its position in EQT Midstream Partners by 28.1% in the second quarter. Solaris Asset Management LLC now owns 2,050 shares of the company’s stock valued at $165,000 after buying an additional 450 shares during the last quarter. Finally, Cedar Wealth Management LLC purchased a new position in EQT Midstream Partners during the second quarter valued at about $199,000.

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.

5 Day Chart for NYSE:EQM

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