EQT Midstream Partners LP (EQM) Expected to Post Quarterly Sales of $232.49 Million

Equities research analysts expect EQT Midstream Partners LP (NYSE:EQM) to report sales of $232.49 million for the current quarter, Zacks reports. Three analysts have issued estimates for EQT Midstream Partners’ earnings, with the highest sales estimate coming in at $237.95 million and the lowest estimate coming in at $227.51 million. EQT Midstream Partners posted sales of $195.01 million in the same quarter last year, which suggests a positive year-over-year growth rate of 19.2%. The business is scheduled to issue its next quarterly earnings results before the market opens on Thursday, February 1st.

According to Zacks, analysts expect that EQT Midstream Partners will report full year sales of $232.49 million for the current financial year, with estimates ranging from $836.00 million to $847.54 million. For the next year, analysts anticipate that the business will post sales of $1.04 billion per share, with estimates ranging from $914.00 million to $1.21 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for EQT Midstream Partners.

EQT Midstream Partners (NYSE:EQM) last announced its earnings results on Thursday, October 26th. The pipeline company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.02. EQT Midstream Partners had a return on equity of 25.85% and a net margin of 65.99%. The firm had revenue of $207.20 million during the quarter, compared to analyst estimates of $205.29 million. During the same quarter in the prior year, the company earned $1.23 EPS. The business’s revenue was up 17.2% compared to the same quarter last year.

A number of research analysts recently weighed in on the company. Zacks Investment Research lowered EQT Midstream Partners from a “hold” rating to a “sell” rating in a research report on Thursday. Stifel Nicolaus set a $90.00 price objective on EQT Midstream Partners and gave the company a “buy” rating in a research report on Wednesday. Bank of America assumed coverage on EQT Midstream Partners in a research report on Tuesday, January 9th. They set a “buy” rating and a $89.00 price objective for the company. Credit Suisse Group assumed coverage on EQT Midstream Partners in a research report on Friday, January 5th. They set a “neutral” rating and a $71.00 price objective for the company. Finally, ValuEngine lowered EQT Midstream Partners from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $89.50.

EQT Midstream Partners (NYSE EQM) opened at $76.34 on Friday. EQT Midstream Partners has a 52-week low of $64.42 and a 52-week high of $82.99. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market capitalization of $6,228.97, a P/E ratio of 14.62, a P/E/G ratio of 1.08 and a beta of 0.89.

Several institutional investors have recently bought and sold shares of EQM. Alps Advisors Inc. increased its holdings in shares of EQT Midstream Partners by 11.2% in the 3rd quarter. Alps Advisors Inc. now owns 4,761,137 shares of the pipeline company’s stock worth $356,942,000 after purchasing an additional 480,995 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of EQT Midstream Partners by 20.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,271,917 shares of the pipeline company’s stock worth $93,817,000 after purchasing an additional 219,261 shares in the last quarter. Cadence Capital Management LLC bought a new stake in shares of EQT Midstream Partners in the 3rd quarter worth $11,963,000. American Century Companies Inc. increased its holdings in shares of EQT Midstream Partners by 14.2% in the 3rd quarter. American Century Companies Inc. now owns 1,028,054 shares of the pipeline company’s stock worth $77,073,000 after purchasing an additional 127,956 shares in the last quarter. Finally, ING Groep NV increased its holdings in shares of EQT Midstream Partners by 15.0% in the 3rd quarter. ING Groep NV now owns 799,500 shares of the pipeline company’s stock worth $59,939,000 after purchasing an additional 104,500 shares in the last quarter. 73.78% of the stock is owned by institutional investors and hedge funds.

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About EQT Midstream Partners

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.

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