Jefferies Financial Group Comments on EQT Midstream Partners LP’s Q3 2019 Earnings (EQM)

EQT Midstream Partners LP (NYSE:EQM) – Investment analysts at Jefferies Financial Group issued their Q3 2019 earnings estimates for EQT Midstream Partners in a research note issued on Tuesday, October 16th. Jefferies Financial Group analyst C. Sighinolfi anticipates that the pipeline company will post earnings of $1.06 per share for the quarter. Jefferies Financial Group has a “Buy” rating and a $65.00 price target on the stock. Jefferies Financial Group also issued estimates for EQT Midstream Partners’ Q4 2019 earnings at $1.26 EPS, FY2021 earnings at $4.86 EPS and FY2022 earnings at $4.73 EPS.

EQT Midstream Partners (NYSE:EQM) last posted its quarterly earnings data on Thursday, July 26th. The pipeline company reported $1.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 company had revenue of $269.76 million for the quarter, compared to analyst estimates of $247.61 million. During the same quarter last year, the company earned $1.27 EPS. The business’s revenue was up 37.1% compared to the same quarter last year.

Other equities analysts also recently issued research reports about the stock. LADENBURG THALM/SH SH cut their price objective on shares of EQT Midstream Partners from $81.00 to $29.00 and set a “buy” rating on the stock in a report on Friday, August 17th. Stifel Nicolaus cut their price objective on shares of EQT Midstream Partners from $66.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, August 17th. Zacks Investment Research upgraded shares of EQT Midstream Partners from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Monday, July 30th. Barclays cut their price objective on shares of EQT Midstream Partners from $68.00 to $64.00 and set an “overweight” rating on the stock in a report on Wednesday, July 11th. Finally, Morgan Stanley cut their price objective on shares of EQT Midstream Partners from $65.00 to $61.00 and set an “overweight” rating on the stock in a report on Friday, August 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $62.43.

EQM opened at $51.29 on Thursday. EQT Midstream Partners has a 52-week low of $48.91 and a 52-week high of $77.97. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.42 and a current ratio of 1.42. The stock has a market cap of $4.56 billion, a PE ratio of 9.88 and a beta of 1.07.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Diversified Trust Co boosted its position in EQT Midstream Partners by 16.1% in the second quarter. Diversified Trust Co now owns 23,190 shares of the pipeline company’s stock valued at $1,196,000 after buying an additional 3,215 shares during the last quarter. Tortoise Index Solutions LLC boosted its position in EQT Midstream Partners by 16.2% in the 2nd quarter. Tortoise Index Solutions LLC now owns 8,908 shares of the pipeline company’s stock worth $460,000 after purchasing an additional 1,242 shares in the last quarter. Keybank National Association OH boosted its position in EQT Midstream Partners by 26.2% in the 2nd quarter. Keybank National Association OH now owns 4,753 shares of the pipeline company’s stock worth $245,000 after purchasing an additional 987 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in EQT Midstream Partners by 3.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 135,435 shares of the pipeline company’s stock worth $6,988,000 after purchasing an additional 3,886 shares in the last quarter. Finally, Securian Asset Management Inc boosted its position in EQT Midstream Partners by 179.7% in the 2nd quarter. Securian Asset Management Inc now owns 36,578 shares of the pipeline company’s stock worth $1,887,000 after purchasing an additional 23,500 shares in the last quarter. Hedge funds and other institutional investors own 65.72% of the company’s stock.

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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Earnings History and Estimates for EQT Midstream Partners (NYSE:EQM)

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