EQT Midstream Partners LP (EQM) to Issue Quarterly Dividend of $1.03

EQT Midstream Partners LP (NYSE:EQM) declared a quarterly dividend on Monday, January 22nd, Wall Street Journal reports. Stockholders of record on Friday, February 2nd will be given a dividend of 1.025 per share by the pipeline company on Wednesday, February 14th. This represents a $4.10 dividend on an annualized basis and a dividend yield of 5.31%. The ex-dividend date is Thursday, February 1st. This is a boost from EQT Midstream Partners’s previous quarterly dividend of $0.98.

EQT Midstream Partners has raised its dividend payment by an average of 21.9% annually over the last three years and has increased its dividend every year for the last 5 years. EQT Midstream Partners has a dividend payout ratio of 73.4% meaning its dividend is sufficiently covered by earnings. Analysts expect EQT Midstream Partners to earn $6.00 per share next year, which means the company should continue to be able to cover its $3.92 annual dividend with an expected future payout ratio of 65.3%.

EQT Midstream Partners (NYSE EQM) traded up $0.64 during trading on Monday, hitting $77.15. 229,902 shares of the stock were exchanged, compared to its average volume of 352,153. EQT Midstream Partners has a 1 year low of $64.42 and a 1 year high of $82.99. The company has a market cap of $6,330.00, a P/E ratio of 14.75, a P/E/G ratio of 1.06 and a beta of 0.90. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.52.

EQT Midstream Partners (NYSE:EQM) last released its quarterly earnings data on Thursday, October 26th. The pipeline company reported $1.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.02. The company had revenue of $207.20 million during the quarter, compared to the consensus estimate of $205.29 million. EQT Midstream Partners had a net margin of 65.99% and a return on equity of 25.85%. EQT Midstream Partners’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same period last year, the firm earned $1.23 EPS. research analysts expect that EQT Midstream Partners will post 5.32 earnings per share for the current fiscal year.

EQM has been the subject of several analyst reports. Morgan Stanley cut their price objective on shares of EQT Midstream Partners from $86.00 to $83.00 and set an “overweight” rating for the company in a report on Friday, November 17th. Mitsubishi UFJ Financial Group reaffirmed an “overweight” rating on shares of EQT Midstream Partners in a report on Thursday, October 26th. Zacks Investment Research downgraded shares of EQT Midstream Partners from a “hold” rating to a “sell” rating in a report on Thursday. Bank of America initiated coverage on shares of EQT Midstream Partners in a report on Tuesday, January 9th. They issued a “buy” rating and a $89.00 price objective for the company. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $96.00 price objective on shares of EQT Midstream Partners in a report on Tuesday, October 10th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $89.50.

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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.

Dividend History for EQT Midstream Partners (NYSE:EQM)

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