EQT Midstream Partners LP (NYSE:EQM) was the target of unusually large options trading activity on Monday. Stock traders purchased 2,976 put options on the stock. This is an increase of 1,509% compared to the typical daily volume of 185 put options.
Several large investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its position in EQT Midstream Partners by 49.6% during the second quarter. The Manufacturers Life Insurance Company now owns 3,613 shares of the pipeline company’s stock valued at $269,000 after purchasing an additional 1,198 shares during the period. First Trust Advisors LP lifted its position in EQT Midstream Partners by 2.9% during the third quarter. First Trust Advisors LP now owns 83,251 shares of the pipeline company’s stock valued at $6,241,000 after purchasing an additional 2,342 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in EQT Midstream Partners by 10.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 42,806 shares of the pipeline company’s stock valued at $3,209,000 after purchasing an additional 3,940 shares during the period. Keybank National Association OH acquired a new position in EQT Midstream Partners during the third quarter valued at $259,000. Finally, Jennison Associates LLC lifted its position in EQT Midstream Partners by 2.2% during the third quarter. Jennison Associates LLC now owns 310,246 shares of the pipeline company’s stock valued at $23,259,000 after purchasing an additional 6,562 shares during the period. Institutional investors and hedge funds own 71.42% of the company’s stock.
Several research firms have issued reports on EQM. Zacks Investment Research lowered shares of EQT Midstream Partners from a “hold” rating to a “sell” rating in a report on Monday. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $77.00 price target (down from $85.00) on shares of EQT Midstream Partners in a report on Wednesday, February 21st. Credit Suisse Group began coverage on shares of EQT Midstream Partners in a report on Friday, January 5th. They issued a “neutral” rating and a $71.00 price target on the stock. 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, ValuEngine downgraded shares of EQT Midstream Partners from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. EQT Midstream Partners presently has a consensus rating of “Hold” and a consensus target price of $84.20.
EQT Midstream Partners (NYSE:EQM) last posted its quarterly earnings data on Thursday, February 15th. The pipeline company reported $1.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.55 by ($0.27). EQT Midstream Partners had a return on equity of 25.24% and a net margin of 63.33%. The company had revenue of $224.51 million for the quarter, compared to analyst estimates of $226.22 million. During the same quarter in the previous year, the firm posted $1.31 earnings per share. The company’s quarterly revenue was up 15.1% on a year-over-year basis. research analysts predict that EQT Midstream Partners will post 5.67 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Friday, February 2nd were paid a dividend of $1.025 per share. This is an increase from EQT Midstream Partners’s previous quarterly dividend of $0.98. This represents a $4.10 annualized dividend and a dividend yield of 6.57%. The ex-dividend date of this dividend was Thursday, February 1st. EQT Midstream Partners’s payout ratio is presently 79.00%.
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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