EQT Midstream Partners (NYSE:EQM) had its target price lowered by Morgan Stanley from $83.00 to $77.00 in a research report issued to clients and investors on Friday, March 16th. The firm presently has an “overweight” rating on the pipeline company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 34.50% from the company’s previous close.
A number of other equities research analysts also recently issued reports on EQM. US Capital Advisors downgraded shares of EQT Midstream Partners from a “buy” rating to a “buy” rating in a research note on Friday, November 17th. ValuEngine downgraded shares of EQT Midstream Partners from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Credit Suisse Group assumed coverage on shares of EQT Midstream Partners in a report on Friday, January 5th. They set a “neutral” rating and a $71.00 price target for the company. Bank of America assumed coverage on shares of EQT Midstream Partners in a report on Tuesday, January 9th. They issued a “buy” rating and a $89.00 target price for the company. Finally, Stifel Nicolaus set a $90.00 target price on shares of EQT Midstream Partners and gave the company a “buy” rating in a report on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $81.30.
EQM traded down $1.77 on Friday, reaching $57.25. 425,624 shares of the company’s stock were exchanged, compared to its average volume of 488,707. The firm has a market capitalization of $4,755.94, a PE ratio of 11.03, a PEG ratio of 0.87 and a beta of 0.94. EQT Midstream Partners has a twelve month low of $55.40 and a twelve month high of $79.53. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.54.
EQT Midstream Partners (NYSE:EQM) last issued its earnings results on Thursday, February 15th. The pipeline company reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.27). The firm had revenue of $224.51 million for the quarter, compared to analysts’ expectations of $226.22 million. EQT Midstream Partners had a return on equity of 25.24% and a net margin of 63.33%. EQT Midstream Partners’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period last year, the firm earned $1.31 earnings per share. analysts predict that EQT Midstream Partners will post 5.67 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alps Advisors Inc. boosted its position in shares of EQT Midstream Partners by 2.3% in the fourth quarter. Alps Advisors Inc. now owns 4,871,408 shares of the pipeline company’s stock worth $356,100,000 after acquiring an additional 110,271 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its holdings in EQT Midstream Partners by 6.6% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 2,671,595 shares of the pipeline company’s stock valued at $195,277,000 after buying an additional 164,303 shares during the period. Harvest Fund Advisors LLC raised its stake in shares of EQT Midstream Partners by 1.4% during the third quarter. Harvest Fund Advisors LLC now owns 2,451,342 shares of the pipeline company’s stock valued at $183,777,000 after purchasing an additional 32,822 shares during the period. Chickasaw Capital Management LLC raised its stake in shares of EQT Midstream Partners by 4.0% during the fourth quarter. Chickasaw Capital Management LLC now owns 1,296,011 shares of the pipeline company’s stock valued at $94,738,000 after purchasing an additional 50,292 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of EQT Midstream Partners by 20.8% during the third quarter. JPMorgan Chase & Co. now owns 1,271,917 shares of the pipeline company’s stock valued at $93,817,000 after purchasing an additional 219,261 shares during the period. 71.31% of the stock is currently owned by institutional investors and hedge funds.
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EQT Midstream Partners Company Profile
EQT 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 owned 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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