EQT Midstream Partners (EQM) Issues Quarterly Earnings Results

EQT Midstream Partners (NYSE:EQM) released its quarterly earnings results on Thursday. The pipeline company reported $1.28 earnings per share for the quarter, missing the consensus estimate of $1.55 by ($0.27), Morningstar.com reports. The firm had revenue of $224.51 million for the quarter, compared to analysts’ expectations of $226.22 million. EQT Midstream Partners had a net margin of 65.99% and a return on equity of 25.85%. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.31 EPS.

EQT Midstream Partners (EQM) opened at $67.09 on Friday. The company has a market capitalization of $5,432.02, a P/E ratio of 12.85, a PEG ratio of 0.94 and a beta of 0.78. 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 has a 1-year low of $64.42 and a 1-year high of $82.99.

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Friday, February 2nd were issued a $1.025 dividend. This is a boost from EQT Midstream Partners’s previous quarterly dividend of $0.98. The ex-dividend date was Thursday, February 1st. This represents a $4.10 dividend on an annualized basis and a dividend yield of 6.11%. EQT Midstream Partners’s payout ratio is 78.54%.

EQM has been the subject of several research analyst reports. Morgan Stanley cut their price target on 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 restated an “overweight” rating on shares of EQT Midstream Partners in a report on Thursday, October 26th. Bank of America initiated coverage on EQT Midstream Partners in a report on Tuesday, January 9th. They set a “buy” rating and a $89.00 price target for the company. Zacks Investment Research cut EQT Midstream Partners from a “hold” rating to a “sell” rating in a report on Thursday, January 18th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $84.00 target price (up previously from $74.00) on shares of EQT Midstream Partners in a report on Monday. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. EQT Midstream Partners has an average rating of “Hold” and a consensus price target of $85.25.

Institutional investors have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. purchased a new position in EQT Midstream Partners during the 4th quarter valued at $115,000. Captrust Financial Advisors purchased a new position in EQT Midstream Partners during the 4th quarter valued at $122,000. Saratoga Research & Investment Management purchased a new position in EQT Midstream Partners during the 3rd quarter valued at $186,000. Stuart Chaussee & Associates Inc. purchased a new position in EQT Midstream Partners during the 4th quarter valued at $181,000. Finally, Advisory Services Network LLC boosted its holdings in EQT Midstream Partners by 95.9% during the 4th quarter. Advisory Services Network LLC now owns 2,600 shares of the pipeline company’s stock valued at $190,000 after acquiring an additional 1,273 shares during the period. Hedge funds and other institutional investors own 74.47% of the company’s stock.

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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.

Earnings History for EQT Midstream Partners (NYSE:EQM)

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