EQT Midstream Partners (EQM) Hits New 12-Month Low at $43.58

Shares of EQT Midstream Partners LP (NYSE:EQM) reached a new 52-week low on Tuesday . The company traded as low as $43.58 and last traded at $44.13, with a volume of 23358 shares changing hands. The stock had previously closed at $44.92.

A number of analysts have weighed in on the stock. Bank of America decreased their target price on shares of EQT Midstream Partners from $64.00 to $62.00 and set a “neutral” rating for the company in a research report on Tuesday, August 21st. Morgan Stanley decreased their target price on shares of EQT Midstream Partners from $71.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, July 13th. Barclays decreased their target price on shares of EQT Midstream Partners from $68.00 to $64.00 and set an “overweight” rating for the company in a research report on Wednesday, July 11th. Credit Suisse Group assumed coverage on shares of EQT Midstream Partners in a research report on Thursday, October 11th. They set a “neutral” rating and a $57.00 target price for the company. Finally, LADENBURG THALM/SH SH decreased their target price on shares of EQT Midstream Partners from $81.00 to $29.00 and set a “buy” rating for the company in a research report on Friday, August 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. EQT Midstream Partners has an average rating of “Buy” and an average target price of $61.64.

The firm has a market capitalization of $5.55 billion, a PE ratio of 8.46 and a beta of 1.13. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.69.

EQT Midstream Partners (NYSE:EQM) last issued its earnings results on Thursday, October 25th. The pipeline company reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.07). EQT Midstream Partners had a return on equity of 22.30% and a net margin of 60.71%. The firm had revenue of $364.58 million during the quarter, compared to the consensus estimate of $356.99 million. As a group, equities analysts forecast that EQT Midstream Partners LP will post 5.8 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Friday, November 2nd will be issued a $1.115 dividend. This is a boost from EQT Midstream Partners’s previous quarterly dividend of $1.09. This represents a $4.46 dividend on an annualized basis and a dividend yield of 10.16%. The ex-dividend date of this dividend is Thursday, November 1st. EQT Midstream Partners’s dividend payout ratio (DPR) is currently 85.93%.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Gryphon Financial Partners LLC lifted its holdings in shares of EQT Midstream Partners by 100.2% in the 3rd quarter. Gryphon Financial Partners LLC now owns 3,791 shares of the pipeline company’s stock worth $200,000 after purchasing an additional 1,897 shares in the last quarter. Berman Capital Advisors LLC bought a new position in shares of EQT Midstream Partners in the 3rd quarter worth $261,000. Chicago Partners Investment Group LLC lifted its holdings in shares of EQT Midstream Partners by 34.9% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 39,551 shares of the pipeline company’s stock worth $1,784,000 after purchasing an additional 10,222 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of EQT Midstream Partners by 4.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 60,343 shares of the pipeline company’s stock worth $3,185,000 after purchasing an additional 2,525 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new position in shares of EQT Midstream Partners in the 3rd quarter worth $244,000. Institutional investors own 69.52% of the company’s stock.

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EQT Midstream Partners Company Profile (NYSE:EQM)

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.

Further Reading: How can you know how many shares are floating?

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