EQT Midstream Partners LP (NYSE:EQM) – Research analysts at Seaport Global Securities boosted their FY2018 earnings per share estimates for EQT Midstream Partners in a research report issued on Tuesday. Seaport Global Securities analyst B. Colson now anticipates that the pipeline company will earn $4.48 per share for the year, up from their prior estimate of $4.41. Seaport Global Securities currently has a “Neutral” rating on the stock.
A number of other brokerages have also recently commented on EQM. Morgan Stanley decreased their price target on EQT Midstream Partners from $86.00 to $83.00 and set an “overweight” rating on the stock in a research note on Friday, November 17th. US Capital Advisors cut EQT Midstream Partners from a “buy” rating to a “buy” rating in a research note on Friday, November 17th. ValuEngine cut EQT Midstream Partners from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Credit Suisse Group initiated coverage on EQT Midstream Partners in a research note on Friday, January 5th. They issued a “neutral” rating and a $71.00 price target on the stock. Finally, Bank of America initiated coverage on EQT Midstream Partners in a research note on Tuesday, January 9th. They issued a “buy” rating and a $89.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $84.33.
EQT Midstream Partners (NYSE:EQM) last announced its quarterly earnings data on Thursday, February 15th. The pipeline company reported $1.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.55 by ($0.27). The firm had revenue of $224.51 million for the quarter, compared to analysts’ expectations of $226.22 million. EQT Midstream Partners had a net margin of 63.33% and a return on equity of 25.24%. The business’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.31 earnings per share.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Friday, February 2nd were given 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 dividend on an annualized basis and a dividend yield of 6.61%. The ex-dividend date was Thursday, February 1st. EQT Midstream Partners’s dividend payout ratio (DPR) is currently 79.00%.
Several hedge funds have recently modified their holdings of EQM. Center Coast Capital Advisors LP bought a new stake in shares of EQT Midstream Partners in the 4th quarter worth approximately $57,976,000. Alps Advisors Inc. grew its position in shares of EQT Midstream Partners by 11.2% in the 3rd quarter. Alps Advisors Inc. now owns 4,761,137 shares of the pipeline company’s stock worth $356,942,000 after buying an additional 480,995 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of EQT Midstream Partners by 20.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,271,917 shares of the pipeline company’s stock worth $93,817,000 after buying an additional 219,261 shares during the last quarter. Kayne Anderson Capital Advisors LP grew its position in shares of EQT Midstream Partners by 6.6% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 2,671,595 shares of the pipeline company’s stock worth $195,277,000 after buying an additional 164,303 shares during the last quarter. Finally, Cadence Capital Management LLC bought a new stake in shares of EQT Midstream Partners in the 3rd quarter worth approximately $11,963,000. Hedge funds and other institutional investors own 74.89% of the company’s stock.
About EQT Midstream Partners
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.
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