EQM Midstream Partners (EQM) Lifted to “Outperform” at Wolfe Research

EQM Midstream Partners (NYSE:EQM) was upgraded by Wolfe Research from a “peer perform” rating to an “outperform” rating in a research report issued on Tuesday, The Fly reports.

A number of other equities research analysts have also issued reports on the company. Citigroup reduced their target price on EQM Midstream Partners to $64.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 25th. Barclays reduced their target price on EQM Midstream Partners from $60.00 to $59.00 and set an “overweight” rating on the stock in a research note on Friday, October 12th. LADENBURG THALM/SH SH reduced their target price on EQM Midstream Partners from $81.00 to $29.00 and set a “buy” rating on the stock in a research note on Friday, August 17th. Stifel Nicolaus reduced their target price on EQM Midstream Partners from $61.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, October 9th. Finally, Morgan Stanley reduced their target price on EQM Midstream Partners from $65.00 to $61.00 and set an “overweight” rating on the stock in a research note on Friday, August 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. EQM Midstream Partners presently has an average rating of “Buy” and an average target price of $61.57.

Shares of NYSE:EQM traded down $0.68 during trading on Tuesday, hitting $47.12. 3,965 shares of the stock were exchanged, compared to its average volume of 934,317. The firm has a market capitalization of $5.91 billion, a price-to-earnings ratio of 9.08 and a beta of 1.13. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.34 and a quick ratio of 0.34. EQM Midstream Partners has a 12-month low of $42.87 and a 12-month high of $77.97.

EQM Midstream Partners (NYSE:EQM) last announced its quarterly earnings results on Thursday, October 25th. The pipeline company reported $1.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by ($0.07). EQM 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 for the quarter, compared to analysts’ expectations of $356.99 million. On average, equities analysts anticipate that EQM Midstream Partners will post 6.06 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Tortoise Capital Advisors L.L.C. raised its holdings in EQM Midstream Partners by 47.4% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 15,016,757 shares of the pipeline company’s stock valued at $792,584,000 after acquiring an additional 4,827,975 shares during the last quarter. Alps Advisors Inc. raised its holdings in EQM Midstream Partners by 50.3% in the 3rd quarter. Alps Advisors Inc. now owns 7,320,737 shares of the pipeline company’s stock valued at $386,388,000 after acquiring an additional 2,450,666 shares during the last quarter. OppenheimerFunds Inc. raised its holdings in EQM Midstream Partners by 119.8% in the 3rd quarter. OppenheimerFunds Inc. now owns 5,039,631 shares of the pipeline company’s stock valued at $265,991,000 after acquiring an additional 2,746,887 shares during the last quarter. Neuberger Berman Group LLC raised its holdings in EQM Midstream Partners by 19.5% in the 3rd quarter. Neuberger Berman Group LLC now owns 4,886,383 shares of the pipeline company’s stock valued at $257,904,000 after acquiring an additional 796,236 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of EQM Midstream Partners by 21.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,116,213 shares of the pipeline company’s stock worth $111,694,000 after buying an additional 374,036 shares during the last quarter. Institutional investors own 59.70% of the company’s stock.

About EQM Midstream Partners

EQM 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 owns 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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