EQM Midstream Partners (EQM) Bonds Trading 1.8% Lower

An issue of EQM Midstream Partners LP (NYSE:EQM) debt fell 1.8% against its face value during trading on Thursday. The high-yield debt issue has a 6.5% coupon and is set to mature on July 15, 2048. The debt is now trading at $97.73. Price changes in a company’s debt in credit markets sometimes predict parallel changes in its share price.

Several research firms have recently weighed in on EQM. Barclays dropped their target price on shares of EQM Midstream Partners from $64.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, August 29th. Bank of America dropped their target price on shares of EQM Midstream Partners from $64.00 to $62.00 and set a “neutral” rating for the company in a research report on Tuesday, August 21st. LADENBURG THALM/SH SH dropped their target price on shares of EQM Midstream Partners from $81.00 to $29.00 and set a “buy” rating for the company in a research report on Friday, August 17th. Stifel Nicolaus dropped their target price on shares of EQM Midstream Partners from $66.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, August 17th. Finally, Morgan Stanley dropped their target price on shares of EQM Midstream Partners from $65.00 to $61.00 and set an “overweight” rating for the company in a research report on Friday, August 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. EQM Midstream Partners presently has an average rating of “Hold” and a consensus price target of $59.79.

Shares of NYSE:EQM opened at $46.12 on Friday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.69. EQM Midstream Partners LP has a fifty-two week low of $42.87 and a fifty-two week high of $77.97. The stock has a market cap of $5.69 billion, a P/E ratio of 9.12 and a beta of 1.13.

EQM Midstream Partners (NYSE:EQM) last announced its quarterly earnings data on Thursday, October 25th. The pipeline company reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.07). EQM Midstream Partners had a net margin of 60.71% and a return on equity of 22.30%. The business had revenue of $364.58 million for the quarter, compared to the consensus estimate of $356.99 million. On average, equities analysts expect that EQM Midstream Partners LP will post 6.03 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Investors of record on Friday, November 2nd were given a dividend of $1.115 per share. This represents a $4.46 dividend on an annualized basis and a dividend yield of 9.67%. The ex-dividend date of this dividend was Thursday, November 1st. This is an increase from EQM Midstream Partners’s previous quarterly dividend of $1.09. EQM Midstream Partners’s dividend payout ratio is currently 85.93%.

Several large investors have recently made changes to their positions in EQM. Alps Advisors Inc. grew its position in shares of EQM Midstream Partners by 5.8% during the 2nd quarter. Alps Advisors Inc. now owns 4,871,408 shares of the pipeline company’s stock valued at $356,100,000 after buying an additional 269,221 shares during the last quarter. First Trust Advisors LP grew its position in shares of EQM Midstream Partners by 50.1% during the 2nd quarter. First Trust Advisors LP now owns 131,764 shares of the pipeline company’s stock valued at $6,798,000 after buying an additional 43,951 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of EQM Midstream Partners by 15.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,178 shares of the pipeline company’s stock valued at $834,000 after buying an additional 2,130 shares during the last quarter. Tortoise Capital Advisors L.L.C. grew its position in shares of EQM Midstream Partners by 23.0% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 10,188,782 shares of the pipeline company’s stock valued at $525,639,000 after buying an additional 1,903,618 shares during the last quarter. Finally, Tortoise Index Solutions LLC grew its position in shares of EQM Midstream Partners by 16.2% during the 2nd quarter. Tortoise Index Solutions LLC now owns 8,908 shares of the pipeline company’s stock valued at $460,000 after buying an additional 1,242 shares during the last quarter. 68.68% of the stock is owned by institutional investors and hedge funds.

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EQM Midstream Partners Company Profile (NYSE:EQM)

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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