EQT Midstream Partners (EQM) Rating Lowered to Hold at Citigroup

EQT Midstream Partners (NYSE:EQM) was downgraded by stock analysts at Citigroup to a “hold” rating in a research report issued to clients and investors on Monday. They presently have a $82.00 target price on the pipeline company’s stock. Citigroup’s price target points to a potential upside of 7.18% from the stock’s previous close.

Several other equities analysts have also commented on the company. US Capital Advisors lowered EQT Midstream Partners from a “buy” rating to a “buy” rating in a research note on Friday, November 17th. Royal Bank of Canada reiterated a “buy” rating and issued a $96.00 target price on shares of EQT Midstream Partners in a research note on Tuesday, October 10th. Mitsubishi UFJ Financial Group reiterated an “overweight” rating on shares of EQT Midstream Partners in a research note on Thursday, October 26th. Morgan Stanley dropped their target price on EQT Midstream Partners from $86.00 to $83.00 and set an “overweight” rating for the company in a research note on Friday, November 17th. Finally, Zacks Investment Research lowered EQT Midstream Partners from a “hold” rating to a “strong sell” rating in a research note on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. EQT Midstream Partners presently has an average rating of “Hold” and an average target price of $88.67.

EQT Midstream Partners (EQM) traded up $0.17 during trading on Monday, reaching $76.51. The company had a trading volume of 216,100 shares, compared to its average volume of 327,338. The firm has a market capitalization of $6,320.00, a price-to-earnings ratio of 14.63, a P/E/G ratio of 1.06 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. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.90 and a quick ratio of 0.90.

EQT Midstream Partners (NYSE:EQM) last released its earnings results on Thursday, October 26th. The pipeline company reported $1.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.02. The firm had revenue of $207.20 million during 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%. The business’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.23 earnings per share. equities research analysts forecast that EQT Midstream Partners will post 5.32 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in the business. Linscomb & Williams Inc. increased its stake in EQT Midstream Partners by 0.3% during the second quarter. Linscomb & Williams Inc. now owns 4,134 shares of the pipeline company’s stock worth $309,000 after acquiring an additional 12 shares during the last quarter. Veritable L.P. increased its stake in EQT Midstream Partners by 5.0% during the second quarter. Veritable L.P. now owns 5,680 shares of the pipeline company’s stock worth $424,000 after acquiring an additional 269 shares during the last quarter. Alliancebernstein L.P. increased its stake in EQT Midstream Partners by 5.9% during the second quarter. Alliancebernstein L.P. now owns 14,356 shares of the pipeline company’s stock worth $1,071,000 after acquiring an additional 803 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in EQT Midstream Partners by 14.3% during the third quarter. Oppenheimer Asset Management Inc. now owns 6,721 shares of the pipeline company’s stock worth $504,000 after acquiring an additional 842 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in EQT Midstream Partners by 3.1% during the third quarter. Janney Montgomery Scott LLC now owns 35,320 shares of the pipeline company’s stock worth $2,648,000 after acquiring an additional 1,051 shares during the last quarter. Institutional investors own 73.87% of the company’s stock.

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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.

Analyst Recommendations for EQT Midstream Partners (NYSE:EQM)

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