EQM Midstream Partners (EQM) Rating Increased to Strong-Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of EQM Midstream Partners (NYSE:EQM) from a hold rating to a strong-buy rating in a report issued on Friday morning, Zacks.com reports. Zacks Investment Research currently has $53.00 price objective on the pipeline company’s stock.

According to Zacks, “EQT Midstream Partners, LP is formed to own, operate, acquire and develop midstream assets in the Appalachian Basin. The Company provides substantially all of its natural gas transmission, storage and gathering services under contracts with fixed reservation and/or usage fees. It operates primarily in the Marcellus Shale area of southern Pennsylvania and northern West Virginia. EQT Midstream Partners, LP is based in Pittsburgh, Pennsylvania. “

A number of other research firms also recently commented on EQM. Barclays decreased 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 note on Wednesday, March 6th. JPMorgan Chase & Co. cut shares of EQM Midstream Partners from an overweight rating to a neutral rating and cut their target price for the stock from $55.00 to $54.00 in a report on Wednesday, February 6th. Goldman Sachs Group cut shares of EQM Midstream Partners from a buy rating to a neutral rating and set a $49.00 target price on the stock. in a report on Sunday, December 16th. US Capital Advisors cut shares of EQM Midstream Partners from an overweight rating to a hold rating in a report on Friday, January 4th. Finally, 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. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. EQM Midstream Partners currently has an average rating of Hold and a consensus price target of $56.87.

NYSE:EQM opened at $46.02 on Friday. The stock has a market capitalization of $5.54 billion, a P/E ratio of 9.08 and a beta of 1.13. EQM Midstream Partners has a one year low of $38.24 and a one year high of $63.73. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.55 and a quick ratio of 0.55.

EQM Midstream Partners (NYSE:EQM) last posted its quarterly earnings results on Thursday, February 14th. The pipeline company reported ($0.89) EPS for the quarter, missing the Zacks’ 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 return on equity of 19.63% and a net margin of 36.10%. The firm’s revenue for the quarter was up 31.6% on a year-over-year basis. During the same quarter last year, the business posted $1.28 earnings per share. On average, analysts predict that EQM Midstream Partners will post 4.37 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in EQM. Northern Oak Wealth Management Inc. raised its holdings in shares of EQM Midstream Partners by 76.9% during the fourth quarter. Northern Oak Wealth Management Inc. now owns 2,300 shares of the pipeline company’s stock valued at $99,000 after buying an additional 1,000 shares during the last quarter. Advisor Group Inc. raised its holdings in shares of EQM Midstream Partners by 297.8% during the fourth quarter. Advisor Group Inc. now owns 3,103 shares of the pipeline company’s stock valued at $135,000 after buying an additional 2,323 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of EQM Midstream Partners by 645.3% during the fourth quarter. Bessemer Group Inc. now owns 3,600 shares of the pipeline company’s stock valued at $156,000 after buying an additional 3,117 shares during the last quarter. Penserra Capital Management LLC bought a new stake in shares of EQM Midstream Partners during the fourth quarter valued at approximately $184,000. Finally, GSA Capital Partners LLP bought a new stake in shares of EQM Midstream Partners during the fourth quarter valued at approximately $212,000. 67.23% of the stock is currently owned by 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.

Featured Story: Key terms to understand channel trading

Get a free copy of the Zacks research report on EQM Midstream Partners (EQM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for EQM Midstream Partners (NYSE:EQM)

Receive News & Ratings for EQM Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQM Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.