EQM Midstream Partners LP (NYSE:EQM) – US Capital Advisors issued their Q2 2019 earnings per share (EPS) estimates for EQM Midstream Partners in a research note issued to investors on Wednesday, January 16th. US Capital Advisors analyst C. Crosby expects that the pipeline company will earn $0.92 per share for the quarter. US Capital Advisors has a “Hold” rating on the stock. US Capital Advisors also issued estimates for EQM Midstream Partners’ Q3 2019 earnings at $0.95 EPS.
Several other research analysts have also recently issued reports on the stock. Citigroup reduced their target price on shares of EQM Midstream Partners to $64.00 and set an “overweight” rating for the company in a report on Tuesday, September 25th. Stifel Nicolaus cut their price objective on shares of 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. Credit Suisse Group initiated coverage on EQM Midstream Partners in a report on Thursday, October 11th. They set a “neutral” rating and a $57.00 price target for the company. Barclays cut 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. Finally, Morgan Stanley dropped their price objective on EQM Midstream Partners from $61.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, October 30th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. EQM Midstream Partners currently has a consensus rating of “Hold” and an average target price of $58.33.
NYSE EQM opened at $46.01 on Friday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.69. The stock has a market cap of $5.63 billion, a price-to-earnings ratio of 8.87 and a beta of 1.09. EQM Midstream Partners has a twelve month low of $39.32 and a twelve month high of $77.60.
EQM Midstream Partners (NYSE:EQM) last issued its 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 business had revenue of $364.58 million for the quarter, compared to the consensus estimate of $356.99 million.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 13th. Investors of record on Friday, February 1st will be paid a dividend of $1.13 per share. The ex-dividend date is Thursday, January 31st. This represents a $4.52 annualized dividend and a yield of 9.82%. This is a boost from EQM Midstream Partners’s previous quarterly dividend of $1.12. EQM Midstream Partners’s dividend payout ratio (DPR) is currently 85.93%.
A number of large investors have recently added to or reduced their stakes in EQM. Tortoise Capital Advisors L.L.C. raised its holdings in shares of 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 purchasing an additional 4,827,975 shares in the last quarter. Alps Advisors Inc. raised its holdings in shares of 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 purchasing an additional 2,450,666 shares in the last quarter. OppenheimerFunds Inc. raised its stake in shares of EQM Midstream Partners by 119.8% during the third 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 in the last quarter. Neuberger Berman Group LLC grew its holdings in shares of EQM Midstream Partners by 19.5% during the third quarter. Neuberger Berman Group LLC now owns 4,886,383 shares of the pipeline company’s stock valued at $257,904,000 after buying an additional 796,236 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position 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 purchasing an additional 374,036 shares during the last quarter. 68.59% of the stock is owned by institutional investors and hedge funds.
EQM Midstream Partners Company Profile
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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