Wall Street analysts expect EQM Midstream Partners LP (NYSE:EQM) to announce earnings per share (EPS) of $1.01 for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for EQM Midstream Partners’ earnings, with estimates ranging from $0.88 to $1.25. EQM Midstream Partners posted earnings of $1.09 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 7.3%. The business is scheduled to announce its next quarterly earnings results on Thursday, July 25th.
According to Zacks, analysts expect that EQM Midstream Partners will report full year earnings of $4.55 per share for the current year, with EPS estimates ranging from $3.67 to $5.30. For the next fiscal year, analysts expect that the company will post earnings of $4.71 per share, with EPS estimates ranging from $4.07 to $6.02. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for EQM Midstream Partners.
EQM Midstream Partners (NYSE:EQM) last announced its quarterly earnings data on Tuesday, April 30th. The pipeline company reported $1.56 EPS for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.42. The business had revenue of $389.78 million during the quarter, compared to analyst estimates of $395.08 million. EQM Midstream Partners had a net margin of 37.39% and a return on equity of 18.34%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.61 earnings per share.
A number of analysts recently weighed in on the stock. Mitsubishi UFJ Financial Group cut shares of EQM Midstream Partners from an “overweight” rating to a “neutral” rating in a research note on Thursday, February 14th. Zacks Investment Research cut shares of EQM Midstream Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 15th. JPMorgan Chase & Co. cut shares of EQM Midstream Partners from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $55.00 to $54.00 in a research note on Wednesday, February 6th. Citigroup set a $52.00 target price on shares of EQM Midstream Partners and gave the company a “buy” rating in a research note on Monday, April 22nd. Finally, Barclays lowered their target price on shares of EQM Midstream Partners from $48.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 6th. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. EQM Midstream Partners has a consensus rating of “Hold” and a consensus price target of $54.93.
NYSE EQM traded up $0.54 on Wednesday, reaching $44.86. The company’s stock had a trading volume of 382,483 shares, compared to its average volume of 692,566. The stock has a market cap of $9.26 billion, a P/E ratio of 8.85 and a beta of 1.11. EQM Midstream Partners has a 52 week low of $38.24 and a 52 week high of $59.62. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.94.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Friday, May 3rd were paid a dividend of $1.145 per share. This represents a $4.58 annualized dividend and a yield of 10.21%. This is a boost from EQM Midstream Partners’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend was Thursday, May 2nd. EQM Midstream Partners’s dividend payout ratio is currently 90.34%.
A number of institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its stake in EQM Midstream Partners by 2.1% during the first quarter. Goldman Sachs Group Inc. now owns 8,234,258 shares of the pipeline company’s stock worth $380,175,000 after buying an additional 166,529 shares during the last quarter. Cresset Asset Management LLC grew its stake in EQM Midstream Partners by 60.0% during the first quarter. Cresset Asset Management LLC now owns 2,049 shares of the pipeline company’s stock worth $95,000 after buying an additional 768 shares during the last quarter. GYL Financial Synergies LLC bought a new stake in EQM Midstream Partners during the first quarter worth about $467,000. Jackson Hole Capital Partners LLC grew its stake in EQM Midstream Partners by 10.5% during the first quarter. Jackson Hole Capital Partners LLC now owns 29,690 shares of the pipeline company’s stock worth $1,371,000 after buying an additional 2,830 shares during the last quarter. Finally, Tortoise Index Solutions LLC grew its stake in EQM Midstream Partners by 17.5% during the first quarter. Tortoise Index Solutions LLC now owns 27,823 shares of the pipeline company’s stock worth $1,285,000 after buying an additional 4,143 shares during the last quarter. 66.35% of the stock is currently owned by hedge funds and other institutional investors.
EQM Midstream Partners Company Profile
EQM Midstream Partners, LP owns, operates, acquires, and develops midstream assets in the Appalachian Basin. It operates through three segments: Gathering, Transmission, and Water. As of December 31, 2018, the company owned approximately 700 miles of high-pressure gathering lines and 1,500 miles of Federal Energy Regulatory Commission (FERC) regulated low-pressure gathering lines; approximately 950 miles of FERC regulated interstate pipelines; and approximately 160 miles of pipelines.
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