State of New Jersey Common Pension Fund D Increases Stake in EQT Midstream Partners (EQM)

State of New Jersey Common Pension Fund D increased its position in shares of EQT Midstream Partners (NYSE:EQM) by 10.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 161,400 shares of the pipeline company’s stock after buying an additional 15,900 shares during the period. State of New Jersey Common Pension Fund D owned about 0.20% of EQT Midstream Partners worth $9,527,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Neuberger Berman Group LLC increased its stake in shares of EQT Midstream Partners by 10.9% during the first quarter. Neuberger Berman Group LLC now owns 3,433,206 shares of the pipeline company’s stock valued at $202,662,000 after buying an additional 338,115 shares during the period. ING Groep NV increased its stake in shares of EQT Midstream Partners by 6.3% during the first quarter. ING Groep NV now owns 508,500 shares of the pipeline company’s stock valued at $30,017,000 after buying an additional 30,000 shares during the period. Vantage Financial Partners Ltd. Inc. increased its stake in shares of EQT Midstream Partners by 21.4% during the first quarter. Vantage Financial Partners Ltd. Inc. now owns 8,500 shares of the pipeline company’s stock valued at $502,000 after buying an additional 1,500 shares during the period. BP Capital Fund Advisors LLC increased its stake in shares of EQT Midstream Partners by 7.4% during the first quarter. BP Capital Fund Advisors LLC now owns 82,017 shares of the pipeline company’s stock valued at $4,841,000 after buying an additional 5,653 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of EQT Midstream Partners by 5.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,643,813 shares of the pipeline company’s stock valued at $97,034,000 after buying an additional 81,733 shares during the period. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Several equities analysts have recently commented on the company. ValuEngine lowered EQT Midstream Partners from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Wells Fargo cut their price target on EQT Midstream Partners from $79.00 to $69.00 and set an “outperform” rating on the stock in a research note on Monday, April 30th. Morgan Stanley cut their price target on EQT Midstream Partners from $77.00 to $71.00 and set an “overweight” rating on the stock in a research note on Friday, April 27th. Deutsche Bank assumed coverage on EQT Midstream Partners in a research note on Friday, April 20th. They set a “buy” rating and a $78.00 price target on the stock. Finally, Barclays cut their price target on EQT Midstream Partners from $83.00 to $68.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 17th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $75.73.

Shares of EQM stock opened at $54.17 on Friday. EQT Midstream Partners has a 1-year low of $50.89 and a 1-year high of $78.75. The stock has a market cap of $4.37 billion, a P/E ratio of 9.96, a P/E/G ratio of 0.77 and a beta of 0.92. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.90 and a current ratio of 0.90.

EQT Midstream Partners (NYSE:EQM) last issued its quarterly earnings data on Thursday, April 26th. The pipeline company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.19. EQT Midstream Partners had a return on equity of 26.35% and a net margin of 65.11%. The company had revenue of $232.80 million for the quarter, compared to the consensus estimate of $232.38 million. During the same quarter last year, the company earned $1.36 earnings per share. The firm’s revenue for the quarter was up 16.3% compared to the same quarter last year. equities analysts anticipate that EQT Midstream Partners will post 5.83 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Friday, May 4th were given a dividend of $1.065 per share. The ex-dividend date was Thursday, May 3rd. This represents a $4.26 dividend on an annualized basis and a yield of 7.86%. This is an increase from EQT Midstream Partners’s previous quarterly dividend of $1.03. EQT Midstream Partners’s dividend payout ratio (DPR) is presently 82.08%.

EQT Midstream Partners 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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Institutional Ownership by Quarter for EQT Midstream Partners (NYSE:EQM)

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