EQM Midstream Partners (NYSE:EQM) Reaches New 52-Week Low at $22.13

EQM Midstream Partners LP (NYSE:EQM)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $22.13 and last traded at $22.19, with a volume of 226429 shares trading hands. The stock had previously closed at $23.17.

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

The stock’s fifty day moving average is $28.44 and its 200-day moving average is $35.71. The stock has a market capitalization of $4.71 billion, a PE ratio of 4.38 and a beta of 0.89. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.64 and a quick ratio of 0.64.

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

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Friday, November 1st were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 20.91%. The ex-dividend date of this dividend was Thursday, October 31st. EQM Midstream Partners’s dividend payout ratio (DPR) is presently 91.52%.

A number of hedge funds and other institutional investors have recently made changes to their positions in EQM. Creative Planning lifted its stake in shares of EQM Midstream Partners by 4.2% in the third quarter. Creative Planning now owns 9,582 shares of the pipeline company’s stock worth $313,000 after buying an additional 382 shares in the last quarter. Icon Wealth Partners LLC lifted its stake in shares of EQM Midstream Partners by 4.9% in the second quarter. Icon Wealth Partners LLC now owns 8,654 shares of the pipeline company’s stock worth $387,000 after buying an additional 401 shares in the last quarter. Northern Oak Wealth Management Inc. increased its position in EQM Midstream Partners by 15.2% during the second quarter. Northern Oak Wealth Management Inc. now owns 3,800 shares of the pipeline company’s stock worth $170,000 after purchasing an additional 500 shares during the last quarter. First Republic Investment Management Inc. increased its position in EQM Midstream Partners by 4.1% during the second quarter. First Republic Investment Management Inc. now owns 13,147 shares of the pipeline company’s stock worth $587,000 after purchasing an additional 520 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in EQM Midstream Partners by 3.3% during the second quarter. Van ECK Associates Corp now owns 18,775 shares of the pipeline company’s stock worth $839,000 after purchasing an additional 591 shares during the last quarter. 37.02% of the stock is currently owned by hedge funds and other 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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