Credit Suisse Group assumed coverage on shares of EQT Midstream Partners (NYSE:EQM) in a research note issued to investors on Friday, MarketBeat reports. The brokerage set a “neutral” rating and a $71.00 price target on the pipeline company’s stock. Credit Suisse Group’s price objective would suggest a potential downside of 5.51% from the company’s previous close.
A number of other equities research analysts have also issued reports on EQM. ValuEngine lowered EQT Midstream Partners from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Seaport Global Securities assumed coverage on EQT Midstream Partners in a research report on Tuesday, October 10th. They issued a “buy” rating and a $96.00 price target on the stock. Zacks Investment Research lowered EQT Midstream Partners from a “hold” rating to a “strong sell” rating in a research report on Monday, October 16th. Morgan Stanley cut their target price on EQT Midstream Partners from $86.00 to $83.00 and set an “overweight” rating on the stock in a research report on Friday, November 17th. Finally, Mitsubishi UFJ Financial Group reissued an “overweight” rating on shares of EQT Midstream Partners in a research report on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $88.00.
EQT Midstream Partners (NYSE EQM) traded down $0.43 during mid-day trading on Friday, reaching $75.14. The company’s stock had a trading volume of 288,511 shares, compared to its average volume of 322,178. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.52. The firm has a market cap of $6,160.00, a price-to-earnings ratio of 14.37, a P/E/G ratio of 1.10 and a beta of 0.90. EQT Midstream Partners has a 52 week low of $64.42 and a 52 week high of $82.99.
EQT Midstream Partners (NYSE:EQM) last posted its quarterly earnings results on Thursday, October 26th. The pipeline company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.02. The company had revenue of $207.20 million for the quarter, compared to analyst estimates of $205.29 million. EQT Midstream Partners had a return on equity of 25.85% and a net margin of 65.99%. EQT Midstream Partners’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.23 EPS. equities analysts anticipate that EQT Midstream Partners will post 5.63 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of EQM. Atlantic Trust Group LLC raised its position in shares of EQT Midstream Partners by 8.2% during the 2nd quarter. Atlantic Trust Group LLC now owns 49,479 shares of the pipeline company’s stock worth $3,692,000 after acquiring an additional 3,760 shares in the last quarter. Alliancebernstein L.P. grew its stake in EQT Midstream Partners by 5.9% during the 2nd quarter. Alliancebernstein L.P. now owns 14,356 shares of the pipeline company’s stock worth $1,071,000 after buying an additional 803 shares during the last quarter. Uniplan Investment Counsel Inc. grew its stake in EQT Midstream Partners by 3.8% during the 2nd quarter. Uniplan Investment Counsel Inc. now owns 64,772 shares of the pipeline company’s stock worth $4,834,000 after buying an additional 2,367 shares during the last quarter. Fort Washington Investment Advisors Inc. OH grew its stake in EQT Midstream Partners by 46.1% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 156,900 shares of the pipeline company’s stock worth $11,709,000 after buying an additional 49,500 shares during the last quarter. Finally, Citigroup Inc. grew its stake in EQT Midstream Partners by 60.0% during the 2nd quarter. Citigroup Inc. now owns 449,721 shares of the pipeline company’s stock worth $33,563,000 after buying an additional 168,675 shares during the last quarter. 73.71% of the stock is currently owned by institutional investors and hedge funds.
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EQT Midstream Partners Company Profile
EQT Midstream Partners, LP (EQM) owns, operates, acquires and develops midstream assets in the Appalachian Basin. The Company’s segments include Gathering and Transmission. The Gathering segment primarily includes high pressure gathering lines and the Federal Energy Regulatory Commission (FERC)-regulated low pressure gathering system.