EQM Midstream Partners (NYSE:EQM) was downgraded by investment analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report released on Wednesday.
A number of other research analysts have also recently issued reports on EQM. Barclays reiterated an “equal weight” rating and issued a $48.00 target price (down previously from $59.00) on shares of EQM Midstream Partners in a research note on Friday, December 7th. Stifel Nicolaus cut shares of EQM Midstream Partners from a “buy” rating to a “hold” rating and cut their target price for the company from $56.00 to $51.00 in a research note on Monday, December 3rd. Morgan Stanley cut their target price on shares of EQM Midstream Partners from $61.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, October 30th. US Capital Advisors cut shares of EQM Midstream Partners from an “overweight” rating to a “hold” rating in a research note on Friday, January 4th. Finally, Credit Suisse Group set a $52.00 target price on shares of EQM Midstream Partners and gave the company a “hold” rating in a research note on Tuesday, October 30th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $58.33.
Shares of NYSE:EQM traded down $0.78 during trading on Wednesday, reaching $45.02. The stock had a trading volume of 2,080 shares, compared to its average volume of 734,453. EQM Midstream Partners has a 52 week low of $39.32 and a 52 week high of $74.11. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $5.48 billion, a P/E ratio of 8.67 and a beta of 1.17.
A number of hedge funds have recently bought and sold shares of EQM. Zions Bancorporation bought a new position in EQM Midstream Partners in the 1st quarter worth approximately $113,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in EQM Midstream Partners in the 4th quarter worth approximately $115,000. Captrust Financial Advisors acquired a new stake in EQM Midstream Partners during the 4th quarter worth $122,000. Americafirst Capital Management LLC acquired a new stake in EQM Midstream Partners during the 2nd quarter worth $130,000. Finally, Quantbot Technologies LP grew its holdings in EQM Midstream Partners by 46.4% during the 3rd quarter. Quantbot Technologies LP now owns 1,731 shares of the pipeline company’s stock worth $131,000 after acquiring an additional 549 shares during the period. Hedge funds and other institutional investors own 68.78% of the company’s stock.
About EQM Midstream Partners
EQM Midstream Partners, LP provides natural gas gathering, transmission, and storage services in Pennsylvania, West Virginia, and Ohio. The company owns, operates, acquires, and develops midstream assets in the Appalachian Basin. The company also owns approximately 300 miles of high pressure gathering lines and 1,500 miles of federal energy regulatory commission (FERC) regulated low pressure gathering lines; and approximately 950 miles of FERC regulated interstate pipelines.
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