Cushing Asset Management LP increased its stake in EQT Midstream Partners LP (NYSE:EQM) by 15.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 966,662 shares of the pipeline company’s stock after acquiring an additional 131,809 shares during the quarter. EQT Midstream Partners makes up about 2.1% of Cushing Asset Management LP’s portfolio, making the stock its 14th biggest holding. Cushing Asset Management LP owned 1.20% of EQT Midstream Partners worth $70,663,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of EQM. Center Coast Capital Advisors LP purchased a new stake in EQT Midstream Partners in the 4th quarter worth $57,976,000. JPMorgan Chase & Co. increased its holdings in 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 acquiring an additional 219,261 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its holdings in EQT Midstream Partners by 6.6% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 2,671,595 shares of the pipeline company’s stock worth $195,277,000 after acquiring an additional 164,303 shares in the last quarter. Cadence Capital Management LLC purchased a new stake in EQT Midstream Partners in the 3rd quarter worth $11,963,000. Finally, Global X Management Co. LLC increased its holdings in EQT Midstream Partners by 33.7% in the 4th quarter. Global X Management Co. LLC now owns 558,716 shares of the pipeline company’s stock worth $40,842,000 after acquiring an additional 140,824 shares in the last quarter. 71.42% of the stock is owned by institutional investors.
Shares of EQT Midstream Partners LP (NYSE:EQM) opened at $62.37 on Tuesday. EQT Midstream Partners LP has a one year low of $59.96 and a one year high of $79.93. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.54. The stock has a market cap of $4,921.13, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 0.90 and a beta of 0.92.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Friday, February 2nd were paid a dividend of $1.025 per share. This represents a $4.10 annualized dividend and a yield of 6.57%. The ex-dividend date was Thursday, February 1st. This is a boost from EQT Midstream Partners’s previous quarterly dividend of $0.98. EQT Midstream Partners’s payout ratio is 79.00%.
Several equities research analysts recently commented on the stock. Zacks Investment Research lowered shares of EQT Midstream Partners from a “hold” rating to a “sell” rating in a report on Monday. Barclays cut their price target on shares of EQT Midstream Partners from $85.00 to $83.00 and set an “overweight” rating for the company in a report on Tuesday, February 27th. Wells Fargo & Co reissued an “outperform” rating and issued a $77.00 price target (down previously from $85.00) on shares of EQT Midstream Partners in a report on Wednesday, February 21st. Seaport Global Securities lowered shares of EQT Midstream Partners from a “buy” rating to a “neutral” rating in a report on Tuesday, February 20th. Finally, Stifel Nicolaus cut their price target on shares of EQT Midstream Partners from $90.00 to $89.00 and set a “buy” rating for the company in a report on Friday, February 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $84.20.
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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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