EQT Midstream Partners LP (EQM) Price Target Raised to $82.00
EQT Midstream Partners LP (NYSE:EQM) had its price objective increased by analysts at Stifel Nicolaus from $78.00 to $82.00 in a note issued to investors on Friday. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ price target points to a potential upside of 6.23% from the company’s previous close.
EQM has been the topic of several other reports. Zacks Investment Research downgraded EQT Midstream Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 27th. Morgan Stanley reaffirmed a “hold” rating and set a $83.00 price target on shares of EQT Midstream Partners in a research report on Wednesday, September 21st. Finally, Credit Suisse Group AG reaffirmed a “neutral” rating on shares of EQT Midstream Partners in a research report on Tuesday, August 16th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. EQT Midstream Partners has a consensus rating of “Buy” and a consensus target price of $89.05.
EQT Midstream Partners (NYSE:EQM) opened at 77.19 on Friday. The stock has a market capitalization of $6.22 billion, a P/E ratio of 15.27 and a beta of 0.94. EQT Midstream Partners has a 12 month low of $56.52 and a 12 month high of $80.63. The stock has a 50 day moving average price of $77.34 and a 200 day moving average price of $76.50.
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EQT Midstream Partners (NYSE:EQM) last released its earnings results on Thursday, July 28th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.12. The firm earned $172 million during the quarter, compared to analyst estimates of $172.47 million. During the same period in the previous year, the company earned $1.12 earnings per share. EQT Midstream Partners’s revenue was up 18.9% on a year-over-year basis. Equities analysts predict that EQT Midstream Partners will post $5.06 EPS for the current fiscal year.
Several large investors have recently bought and sold shares of EQM. Tortoise Capital Advisors L.L.C. raised its stake in EQT Midstream Partners by 18.6% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 9,619,868 shares of the company’s stock valued at $772,475,000 after buying an additional 1,506,668 shares during the last quarter. Cohen & Steers Inc. raised its position in shares of EQT Midstream Partners by 421.9% in the second quarter. Cohen & Steers Inc. now owns 1,599,617 shares of the company’s stock worth $13,693,000 after buying an additional 1,293,141 shares in the last quarter. Bank of Montreal Can bought a new position in shares of EQT Midstream Partners during the second quarter worth $50,861,000. Hamlin Capital Management LLC bought a new position in shares of EQT Midstream Partners during the second quarter worth $42,253,000. Finally, Neuberger Berman Group LLC raised its position in shares of EQT Midstream Partners by 9.1% in the second quarter. Neuberger Berman Group LLC now owns 2,597,069 shares of the company’s stock worth $208,545,000 after buying an additional 216,842 shares in the last quarter.
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.
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