Stifel Nicolaus Increases EQT Midstream Partners LP (EQM) Price Target to $82.00
EQT Midstream Partners LP (NYSE:EQM) had its target price increased by stock analysts at Stifel Nicolaus from $78.00 to $82.00 in a report released on Friday. The brokerage 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 report on Tuesday, September 27th. Morgan Stanley restated a “hold” rating and set a $83.00 price objective on shares of EQT Midstream Partners in a report on Wednesday, September 21st. Finally, Credit Suisse Group AG restated a “neutral” rating on shares of EQT Midstream Partners in a report on Tuesday, August 16th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $89.05.
Shares of EQT Midstream Partners (NYSE:EQM) opened at 77.19 on Friday. The firm 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 one year low of $56.52 and a one year high of $80.63. The company’s 50 day moving average price is $77.34 and its 200 day moving average price is $76.50.
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EQT Midstream Partners (NYSE:EQM) last posted its quarterly earnings data on Thursday, July 28th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.12. The business had revenue of $172 million for the quarter, compared to analysts’ expectations of $172.47 million. During the same quarter in the prior year, the firm earned $1.12 earnings per share. EQT Midstream Partners’s revenue for the quarter was up 18.9% compared to the same quarter last year. On average, analysts expect that EQT Midstream Partners will post $5.06 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Zions Bancorporation acquired a new position in shares of EQT Midstream Partners during the first quarter worth about $113,000. Americafirst Capital Management LLC acquired a new position in shares of EQT Midstream Partners during the second quarter worth about $130,000. CENTRAL TRUST Co raised its position in shares of EQT Midstream Partners by 31.3% in the second quarter. CENTRAL TRUST Co now owns 1,699 shares of the company’s stock worth $136,000 after buying an additional 405 shares during the period. Solaris Asset Management LLC raised its position in shares of EQT Midstream Partners by 28.1% in the second quarter. Solaris Asset Management LLC now owns 2,050 shares of the company’s stock worth $165,000 after buying an additional 450 shares during the period. Finally, Creative Planning raised its position in shares of EQT Midstream Partners by 45.8% in the third quarter. Creative Planning now owns 2,294 shares of the company’s stock worth $175,000 after buying an additional 721 shares during the period.
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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