58,212 Shares in EQM Midstream Partners LP (NYSE:EQM) Acquired by Virtus ETF Advisers LLC

Virtus ETF Advisers LLC purchased a new stake in shares of EQM Midstream Partners LP (NYSE:EQM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 58,212 shares of the pipeline company’s stock, valued at approximately $2,601,000.

A number of other large investors have also recently modified their holdings of EQM. First Republic Investment Management Inc. bought a new stake in EQM Midstream Partners in the first quarter worth $583,000. California Public Employees Retirement System increased its position in EQM Midstream Partners by 7.6% in the first quarter. California Public Employees Retirement System now owns 163,533 shares of the pipeline company’s stock worth $7,550,000 after purchasing an additional 11,586 shares during the last quarter. Stephens Inc. AR increased its position in EQM Midstream Partners by 3.3% in the first quarter. Stephens Inc. AR now owns 7,754 shares of the pipeline company’s stock worth $358,000 after purchasing an additional 247 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in EQM Midstream Partners by 13.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 95,192 shares of the pipeline company’s stock worth $4,395,000 after purchasing an additional 11,539 shares during the last quarter. Finally, Aveo Capital Partners LLC increased its position in EQM Midstream Partners by 20.8% in the first quarter. Aveo Capital Partners LLC now owns 6,400 shares of the pipeline company’s stock worth $295,000 after purchasing an additional 1,100 shares during the last quarter. 41.93% of the stock is currently owned by institutional investors and hedge funds.

EQM has been the topic of a number of analyst reports. UBS Group initiated coverage on shares of EQM Midstream Partners in a research report on Tuesday, August 6th. They set a “neutral” rating and a $36.00 price objective on the stock. Stifel Nicolaus set a $46.00 price objective on shares of EQM Midstream Partners and gave the company a “hold” rating in a research report on Wednesday, July 31st. Credit Suisse Group cut their price objective on shares of EQM Midstream Partners from $45.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, August 1st. Royal Bank of Canada set a $42.00 price objective on shares of EQM Midstream Partners and gave the company a “hold” rating in a research report on Wednesday, July 31st. Finally, Zacks Investment Research cut shares of EQM Midstream Partners from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. EQM Midstream Partners presently has an average rating of “Hold” and a consensus target price of $48.36.

Shares of EQM traded up $1.07 during trading hours on Friday, reaching $30.87. 85,539 shares of the company traded hands, compared to its average volume of 791,861. The firm has a market cap of $6.23 billion, a price-to-earnings ratio of 6.12 and a beta of 0.97. EQM Midstream Partners LP has a 12-month low of $28.44 and a 12-month high of $57.10. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.92. The stock’s fifty day moving average price is $32.97 and its 200 day moving average price is $41.28.

EQM Midstream Partners (NYSE:EQM) last issued its earnings results on Tuesday, July 30th. The pipeline company reported $0.93 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.97 by ($0.04). The company had revenue of $406.17 million for the quarter, compared to analysts’ expectations of $401.94 million. EQM Midstream Partners had a net margin of 32.78% and a return on equity of 16.66%. On average, research analysts forecast that EQM Midstream Partners LP will post 4.57 earnings per share for the current year.

EQM Midstream Partners 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.

Further Reading: Hedge Funds – Risk or Reward?

Institutional Ownership by Quarter for EQM Midstream Partners (NYSE:EQM)

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