EQT Midstream Partners (EQM) Downgraded by Wolfe Research to “Peer Perform”

Wolfe Research lowered shares of EQT Midstream Partners (NYSE:EQM) from an outperform rating to a peer perform rating in a research note issued to investors on Wednesday morning. They currently have $76.00 price objective on the pipeline company’s stock, down from their prior price objective of $85.00.

A number of other analysts have also issued reports on the company. Royal Bank of Canada reaffirmed a sector perform rating and set a $84.00 target price (up from $74.00) on shares of EQT Midstream Partners in a research report on Monday. ValuEngine lowered EQT Midstream Partners from a buy rating to a hold rating in a research report on Friday, February 2nd. Zacks Investment Research lowered EQT Midstream Partners from a hold rating to a sell rating in a research report on Thursday, January 18th. Stifel Nicolaus set a $90.00 target price on EQT Midstream Partners and gave the stock a buy rating in a research report on Wednesday, January 17th. Finally, Bank of America started coverage on EQT Midstream Partners in a report on Tuesday, January 9th. They issued a buy rating and a $89.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $85.38.

Shares of EQT Midstream Partners (NYSE:EQM) opened at $67.41 on Wednesday. EQT Midstream Partners has a 52-week low of $64.42 and a 52-week high of $82.99. The stock has a market capitalization of $5,506.15, a PE ratio of 13.09, a PEG ratio of 0.95 and a beta of 0.78. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.90 and a current ratio of 0.90.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Friday, February 2nd were issued a $1.025 dividend. This is a positive change from EQT Midstream Partners’s previous quarterly dividend of $0.98. This represents a $4.10 annualized dividend and a yield of 6.08%. The ex-dividend date was Thursday, February 1st. EQT Midstream Partners’s payout ratio is currently 78.54%.

A number of institutional investors have recently made changes to their positions in EQM. Alliancebernstein L.P. increased its holdings in EQT Midstream Partners by 5.9% in the second quarter. Alliancebernstein L.P. now owns 14,356 shares of the pipeline company’s stock valued at $1,071,000 after buying an additional 803 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of EQT Midstream Partners by 49.6% during the second quarter. The Manufacturers Life Insurance Company now owns 3,613 shares of the pipeline company’s stock valued at $269,000 after purchasing an additional 1,198 shares during the last quarter. Intl Fcstone Inc. bought a new position in shares of EQT Midstream Partners during the second quarter valued at approximately $1,086,000. Spirit of America Management Corp NY grew its holdings in shares of EQT Midstream Partners by 17.0% during the third quarter. Spirit of America Management Corp NY now owns 142,215 shares of the pipeline company’s stock valued at $10,662,000 after purchasing an additional 20,700 shares during the last quarter. Finally, Hamlin Capital Management LLC grew its holdings in shares of EQT Midstream Partners by 4.9% during the third quarter. Hamlin Capital Management LLC now owns 1,171,268 shares of the pipeline company’s stock valued at $87,810,000 after purchasing an additional 55,139 shares during the last quarter. 74.47% of the stock is owned by hedge funds and other institutional investors.

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EQT Midstream Partners Company Profile

EQT Midstream Partners, LP (EQM) owns, operates, acquires and develops midstream assets in the Appalachian Basin. The Company’s segments include Gathering and Transmission. The Gathering segment primarily includes high pressure gathering lines and the Federal Energy Regulatory Commission (FERC)-regulated low pressure gathering system.

Analyst Recommendations for EQT Midstream Partners (NYSE:EQM)

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