OppenheimerFunds Inc. trimmed its position in shares of EQT Midstream Partners LP (NYSE:EQM) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,381,924 shares of the pipeline company’s stock after selling 176,600 shares during the period. OppenheimerFunds Inc. owned 2.96% of EQT Midstream Partners worth $174,118,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Brown Advisory Inc. acquired a new position in shares of EQT Midstream Partners in the fourth quarter valued at $319,000. Vantage Financial Partners Ltd. Inc. acquired a new position in shares of EQT Midstream Partners in the fourth quarter valued at $513,000. FDx Advisors Inc. increased its holdings in shares of EQT Midstream Partners by 15.3% in the fourth quarter. FDx Advisors Inc. now owns 7,765 shares of the pipeline company’s stock valued at $568,000 after purchasing an additional 1,030 shares during the last quarter. Ferris Capital LLC acquired a new position in shares of EQT Midstream Partners in the fourth quarter valued at $361,000. Finally, BlackRock Inc. increased its holdings in shares of EQT Midstream Partners by 6.9% in the fourth quarter. BlackRock Inc. now owns 435,373 shares of the pipeline company’s stock valued at $31,825,000 after purchasing an additional 28,272 shares during the last quarter. Institutional investors and hedge funds own 74.89% of the company’s stock.
EQT Midstream Partners LP (NYSE:EQM) opened at $61.77 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.69 and a quick ratio of 0.69. EQT Midstream Partners LP has a one year low of $60.59 and a one year high of $82.74. The company has a market cap of $5,124.19, a PE ratio of 12.25, a P/E/G ratio of 0.93 and a beta of 0.78.
EQT Midstream Partners (NYSE:EQM) last released its quarterly earnings results 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 net margin of 63.33% and a return on equity of 25.24%. The business had revenue of $224.51 million during the quarter, compared to analyst estimates of $226.22 million. During the same quarter last year, the company posted $1.31 earnings per share. The company’s revenue was up 15.1% on a year-over-year basis. research analysts anticipate that EQT Midstream Partners LP will post 5.71 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Friday, February 2nd were paid a $1.025 dividend. The ex-dividend date of this dividend was Thursday, February 1st. 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 6.64%. EQT Midstream Partners’s dividend payout ratio is 79.00%.
Several equities analysts have commented on EQM shares. Mitsubishi UFJ Financial Group reiterated an “overweight” rating on shares of EQT Midstream Partners in a report on Thursday, October 26th. Morgan Stanley decreased their price objective on shares of EQT Midstream Partners from $86.00 to $83.00 and set an “overweight” rating on the stock in a report on Friday, November 17th. US Capital Advisors downgraded shares of EQT Midstream Partners from a “buy” rating to a “buy” rating in a report on Friday, November 17th. ValuEngine downgraded shares of EQT Midstream Partners from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, 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 objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $84.33.
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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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