EQM Midstream Partners (NYSE:EQM) Trading Down 1%

Shares of EQM Midstream Partners LP (NYSE:EQM) traded down 1% during mid-day trading on Tuesday . The company traded as low as $22.00 and last traded at $21.78, 53,446 shares traded hands during trading. A decline of 95% from the average session volume of 1,017,674 shares. The stock had previously closed at $22.00.

A number of research analysts have recently commented on EQM shares. Zacks Investment Research raised EQM Midstream Partners from a “sell” rating to a “hold” rating in a report on Wednesday, November 27th. UBS Group upgraded shares of EQM Midstream Partners from a “neutral” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Thursday, September 26th. Barclays set a $40.00 price target on shares of EQM Midstream Partners and gave the stock a “hold” rating in a research note on Tuesday, October 15th. ValuEngine cut EQM Midstream Partners from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Finally, Credit Suisse Group upgraded EQM Midstream Partners from a “neutral” rating to an “outperform” rating and cut their target price for the stock from $39.00 to $30.00 in a research report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $42.89.

The business’s 50 day simple moving average is $27.88 and its 200 day simple moving average is $35.38. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $4.56 billion, a PE ratio of 4.30 and a beta of 0.89.

EQM Midstream Partners (NYSE:EQM) last released its earnings results on Tuesday, November 5th. The pipeline company reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.24. The company had revenue of $408.40 million during the quarter, compared to analyst estimates of $408.98 million. EQM Midstream Partners had a return on equity of 18.34% and a net margin of 18.00%. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.14 earnings per share. On average, analysts anticipate that EQM Midstream Partners LP will post 3.27 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Friday, November 1st were paid a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 21.23%. The ex-dividend date of this dividend was Thursday, October 31st. EQM Midstream Partners’s dividend payout ratio is currently 91.52%.

A number of large investors have recently added to or reduced their stakes in EQM. Invesco Ltd. boosted its stake in shares of EQM Midstream Partners by 7,335.8% during the 2nd quarter. Invesco Ltd. now owns 9,020,819 shares of the pipeline company’s stock valued at $403,051,000 after buying an additional 8,899,503 shares during the period. Alps Advisors Inc. raised its stake in shares of EQM Midstream Partners by 38.0% during the 3rd quarter. Alps Advisors Inc. now owns 9,987,345 shares of the pipeline company’s stock worth $326,586,000 after purchasing an additional 2,749,389 shares in the last quarter. Tortoise Capital Advisors L.L.C. lifted its holdings in shares of EQM Midstream Partners by 6.7% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 14,760,030 shares of the pipeline company’s stock valued at $659,478,000 after buying an additional 923,585 shares during the last quarter. Morgan Stanley lifted its holdings in shares of EQM Midstream Partners by 142.8% during the 2nd quarter. Morgan Stanley now owns 1,426,358 shares of the pipeline company’s stock valued at $63,729,000 after buying an additional 838,799 shares during the last quarter. Finally, Brookfield Asset Management Inc. grew its stake in shares of EQM Midstream Partners by 29.5% in the 2nd quarter. Brookfield Asset Management Inc. now owns 3,231,999 shares of the pipeline company’s stock valued at $144,406,000 after buying an additional 736,941 shares in the last quarter. 37.02% of the stock is currently owned by institutional investors.

About EQM Midstream Partners (NYSE:EQM)

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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