EQM Midstream Partners LP (NYSE:EQM) has earned an average rating of “Hold” from the sixteen ratings firms that are currently covering the firm, Marketbeat reports. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $54.86.
A number of research firms have recently commented on EQM. Zacks Investment Research cut EQM Midstream Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 15th. Citigroup set a $52.00 price objective on EQM Midstream Partners and gave the company a “buy” rating in a research report on Monday, April 22nd. JPMorgan Chase & Co. cut EQM Midstream Partners from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $55.00 to $54.00 in a research report on Wednesday, February 6th. Mitsubishi UFJ Financial Group cut EQM Midstream Partners from an “overweight” rating to a “neutral” rating in a research report on Thursday, February 14th. Finally, Barclays dropped their price target on EQM Midstream Partners from $48.00 to $44.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 6th.
Shares of EQM Midstream Partners stock traded down $0.12 on Friday, reaching $44.66. The company’s stock had a trading volume of 5,102 shares, compared to its average volume of 675,351. The stock has a market capitalization of $9.29 billion, a PE ratio of 8.82 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 debt-to-equity ratio of 0.94, a current ratio of 0.69 and a quick ratio of 0.69.
EQM Midstream Partners (NYSE:EQM) last posted 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 analysts’ expectations of $395.08 million. EQM Midstream Partners had a return on equity of 18.34% and a net margin of 37.39%. The business’s revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.61 earnings per share. On average, equities research analysts anticipate that EQM Midstream Partners will post 4.55 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Friday, May 3rd were given a dividend of $1.145 per share. This represents a $4.58 annualized dividend and a dividend yield of 10.26%. 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 payout ratio is presently 90.34%.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its holdings in EQM Midstream Partners by 10.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 17,842 shares of the pipeline company’s stock valued at $942,000 after buying an additional 1,664 shares in the last quarter. Bank of Montreal Can increased its position in EQM Midstream Partners by 40.9% during the 4th quarter. Bank of Montreal Can now owns 1,466,675 shares of the pipeline company’s stock worth $63,434,000 after purchasing an additional 425,932 shares in the last quarter. Conning Inc. increased its position in EQM Midstream Partners by 14.4% during the 4th quarter. Conning Inc. now owns 75,648 shares of the pipeline company’s stock worth $3,272,000 after purchasing an additional 9,525 shares in the last quarter. Eagle Global Advisors LLC acquired a new position in EQM Midstream Partners during the 4th quarter worth approximately $2,939,000. Finally, Nwam LLC increased its position in EQM Midstream Partners by 39.5% during the 4th quarter. Nwam LLC now owns 7,344 shares of the pipeline company’s stock worth $318,000 after purchasing an additional 2,080 shares in the last quarter. Hedge funds and other institutional investors own 66.35% of the company’s stock.
About EQM Midstream Partners
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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