Tiedemann Advisors LLC trimmed its stake in shares of EQT Midstream Partners LP (NYSE:EQM) by 29.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 206,128 shares of the pipeline company’s stock after selling 84,251 shares during the period. Tiedemann Advisors LLC’s holdings in EQT Midstream Partners were worth $10,634,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Rockefeller Capital Management L.P. acquired a new stake in EQT Midstream Partners during the first quarter worth about $157,000. Ostrum Asset Management acquired a new stake in EQT Midstream Partners during the first quarter worth about $241,000. Keybank National Association OH grew its holdings in EQT Midstream Partners by 26.2% during the second quarter. Keybank National Association OH now owns 4,753 shares of the pipeline company’s stock worth $245,000 after acquiring an additional 987 shares during the period. Advisory Services Network LLC grew its holdings in EQT Midstream Partners by 100.0% during the second quarter. Advisory Services Network LLC now owns 5,200 shares of the pipeline company’s stock worth $283,000 after acquiring an additional 2,600 shares during the period. Finally, Lake Street Advisors Group LLC acquired a new stake in EQT Midstream Partners during the second quarter worth about $298,000. 65.77% of the stock is currently owned by hedge funds and other institutional investors.
Shares of EQM opened at $56.44 on Monday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.39. EQT Midstream Partners LP has a 12 month low of $48.91 and a 12 month high of $77.97. The company has a market capitalization of $4.89 billion, a price-to-earnings ratio of 10.87 and a beta of 1.06.
EQT Midstream Partners (NYSE:EQM) last issued its quarterly earnings data on Thursday, July 26th. The pipeline company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.29). EQT Midstream Partners had a net margin of 63.76% and a return on equity of 26.66%. The business had revenue of $269.76 million during the quarter, compared to analyst estimates of $247.61 million. During the same period in the previous year, the business posted $1.27 earnings per share. The firm’s revenue for the quarter was up 37.1% on a year-over-year basis. research analysts anticipate that EQT Midstream Partners LP will post 5.83 earnings per share for the current year.
Several analysts recently commented on the company. Bank of America dropped their target price on EQT Midstream Partners from $64.00 to $62.00 and set a “neutral” rating on the stock in a report on Tuesday, August 21st. Morgan Stanley dropped their target price on EQT Midstream Partners from $71.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, July 13th. Barclays dropped their target price on EQT Midstream Partners from $68.00 to $64.00 and set an “overweight” rating on the stock in a report on Wednesday, July 11th. LADENBURG THALM/SH SH dropped their target price on EQT Midstream Partners from $81.00 to $29.00 and set a “buy” rating on the stock in a report on Friday, August 17th. Finally, Zacks Investment Research lowered EQT Midstream Partners from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $63.62.
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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