EQT Midstream Partners LP (EQM) Receives $60.75 Consensus PT from Brokerages

EQT Midstream Partners LP (NYSE:EQM) has been given a consensus rating of “Buy” by the seventeen ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $60.75.

EQM has been the topic of several analyst reports. LADENBURG THALM/SH SH reduced their price objective on shares of EQT Midstream Partners from $81.00 to $29.00 and set a “buy” rating on the stock in a research note on Friday, August 17th. Stifel Nicolaus cut their price target on shares of EQT Midstream Partners from $66.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, August 17th. Jefferies Financial Group began coverage on shares of EQT Midstream Partners in a research report on Wednesday, July 25th. They set a “buy” rating and a $65.00 price target on the stock. Zacks Investment Research raised shares of EQT Midstream Partners from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Monday, July 30th. Finally, Morgan Stanley cut their price target on shares of EQT Midstream Partners from $61.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, October 30th.

Shares of EQT Midstream Partners stock traded up $2.10 during trading on Monday, hitting $47.22. The company’s stock had a trading volume of 1,039,948 shares, compared to its average volume of 860,279. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.69. EQT Midstream Partners has a 52 week low of $42.87 and a 52 week high of $77.97. The stock has a market cap of $5.28 billion, a price-to-earnings ratio of 9.10 and a beta of 1.13.

EQT Midstream Partners (NYSE:EQM) last issued its quarterly earnings data on Thursday, October 25th. The pipeline company reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.07). EQT 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 during the quarter, compared to the consensus estimate of $356.99 million. As a group, equities analysts anticipate that EQT Midstream Partners will post 5.8 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Friday, November 2nd will be given a dividend of $1.115 per share. The ex-dividend date of this dividend is Thursday, November 1st. This represents a $4.46 dividend on an annualized basis and a yield of 9.45%. This is a boost from EQT Midstream Partners’s previous quarterly dividend of $1.09. EQT Midstream Partners’s dividend payout ratio is 85.93%.

A number of institutional investors and hedge funds have recently modified their holdings of EQM. BP Capital Fund Advisors LLC boosted its position in shares of EQT Midstream Partners by 39.9% during the 3rd quarter. BP Capital Fund Advisors LLC now owns 99,648 shares of the pipeline company’s stock worth $5,259,000 after purchasing an additional 28,415 shares in the last quarter. Gratus Capital LLC bought a new position in shares of EQT Midstream Partners during the 3rd quarter worth about $203,000. FMR LLC boosted its position in shares of EQT Midstream Partners by 1,083.1% during the 3rd quarter. FMR LLC now owns 88,735 shares of the pipeline company’s stock worth $4,683,000 after purchasing an additional 81,235 shares in the last quarter. Rafferty Asset Management LLC bought a new position in shares of EQT Midstream Partners during the 3rd quarter worth about $2,526,000. Finally, BlackRock Inc. boosted its position in shares of EQT Midstream Partners by 31.6% during the 3rd quarter. BlackRock Inc. now owns 532,364 shares of the pipeline company’s stock worth $28,098,000 after purchasing an additional 127,911 shares in the last quarter. 69.52% of the stock is currently owned by institutional investors and hedge funds.

About EQT Midstream Partners

EQT 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 owned 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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Analyst Recommendations for EQT Midstream Partners (NYSE:EQM)

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