EQM Midstream Partners LP (EQM) Expected to Post Quarterly Sales of $395.45 Million

Wall Street brokerages expect EQM Midstream Partners LP (NYSE:EQM) to report $395.45 million in sales for the current quarter, according to Zacks. Four analysts have made estimates for EQM Midstream Partners’ earnings, with estimates ranging from $382.74 million to $403.90 million. EQM Midstream Partners posted sales of $232.84 million in the same quarter last year, which suggests a positive year-over-year growth rate of 69.8%. The firm is scheduled to announce its next quarterly earnings report on Thursday, April 25th.

On average, analysts expect that EQM Midstream Partners will report full year sales of $1.63 billion for the current fiscal year, with estimates ranging from $1.59 billion to $1.69 billion. For the next financial year, analysts forecast that the company will post sales of $1.83 billion, with estimates ranging from $1.73 billion to $1.94 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover EQM Midstream Partners.

EQM Midstream Partners (NYSE:EQM) last announced its earnings results on Thursday, February 14th. The pipeline company reported ($0.89) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.30 by ($2.19). The firm had revenue of $384.80 million during the quarter, compared to analyst estimates of $380.81 million. EQM Midstream Partners had a net margin of 36.10% and a return on equity of 19.63%. EQM Midstream Partners’s revenue was up 31.6% on a year-over-year basis. During the same quarter last year, the business earned $1.28 earnings per share.

A number of research analysts have issued reports on EQM shares. JPMorgan Chase & Co. cut shares of EQM Midstream Partners from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $55.00 to $54.00 in a report on Wednesday, February 6th. Mitsubishi UFJ Financial Group cut shares of EQM Midstream Partners from an “overweight” rating to a “neutral” rating in a report on Thursday, February 14th. Barclays decreased their price target on shares of EQM Midstream Partners from $48.00 to $44.00 and set an “equal weight” rating for the company in a report on Wednesday, March 6th. Citigroup raised shares of EQM Midstream Partners from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $82.00 to $58.00 in a report on Thursday, November 29th. Finally, Wolfe Research raised shares of EQM Midstream Partners from a “peer perform” rating to an “outperform” rating and set a $66.00 price target for the company in a report on Tuesday, November 20th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $57.81.

Several institutional investors have recently modified their holdings of the stock. Tortoise Capital Advisors L.L.C. increased its holdings in EQM Midstream Partners by 47.4% in the third 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 buying an additional 4,827,975 shares in the last quarter. OppenheimerFunds Inc. increased its holdings in EQM Midstream Partners by 119.8% in the third quarter. OppenheimerFunds Inc. now owns 5,039,631 shares of the pipeline company’s stock valued at $265,991,000 after buying an additional 2,746,887 shares in the last quarter. Brookfield Asset Management Inc. increased its holdings in EQM Midstream Partners by 532.4% in the third quarter. Brookfield Asset Management Inc. now owns 2,097,579 shares of the pipeline company’s stock valued at $110,710,000 after buying an additional 1,765,910 shares in the last quarter. Virtus ETF Advisers LLC purchased a new position in EQM Midstream Partners in the third quarter valued at $78,086,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in EQM Midstream Partners in the third quarter valued at $48,983,000. 67.34% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE EQM traded up $0.86 during midday trading on Friday, reaching $44.09. The company had a trading volume of 1,523,773 shares, compared to its average volume of 880,905. The stock has a market cap of $5.21 billion, a P/E ratio of 8.70 and a beta of 1.09. EQM Midstream Partners has a 1 year low of $38.24 and a 1 year high of $63.73. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.85.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 13th. Investors of record on Friday, February 1st were issued a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 10.25%. The ex-dividend date was Thursday, January 31st. This is a boost from EQM Midstream Partners’s previous quarterly dividend of $1.12. EQM Midstream Partners’s dividend payout ratio (DPR) is 89.15%.

About EQM Midstream Partners

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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Earnings History and Estimates for EQM Midstream Partners (NYSE:EQM)

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