EQT Midstream Partners (EQM) Given New $68.00 Price Target at Barclays

EQT Midstream Partners (NYSE:EQM) had its price target reduced by stock analysts at Barclays from $83.00 to $68.00 in a report released on Tuesday. The brokerage currently has an “overweight” rating on the pipeline company’s stock. Barclays’ target price would indicate a potential upside of 8.57% from the company’s previous close.

EQM has been the subject of a number of other research reports. Wolfe Research cut shares of EQT Midstream Partners from an “outperform” rating to a “peer perform” rating and decreased their price objective for the company from $85.00 to $76.00 in a report on Wednesday, February 14th. Zacks Investment Research cut shares of EQT Midstream Partners from a “hold” rating to a “sell” rating in a report on Thursday, January 18th. Wells Fargo reiterated an “outperform” rating and issued a $77.00 price target (down previously from $85.00) on shares of EQT Midstream Partners in a report on Wednesday, February 21st. Seaport Global Securities upgraded shares of EQT Midstream Partners from a “neutral” rating to a “buy” rating and reduced their price target for the company from $70.00 to $67.00 in a report on Monday, April 9th. Finally, Bank of America initiated coverage on shares of EQT Midstream Partners in a report on Tuesday, January 9th. They issued a “buy” rating and a $89.00 price target for the company. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. EQT Midstream Partners presently has a consensus rating of “Hold” and an average price target of $76.90.

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NYSE EQM traded up $0.93 during trading on Tuesday, reaching $62.63. 247,459 shares of the stock traded hands, compared to its average volume of 439,370. The stock has a market cap of $4,802.67, a P/E ratio of 12.07, a P/E/G ratio of 0.85 and a beta of 0.94. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.69 and a current ratio of 0.69. EQT Midstream Partners has a fifty-two week low of $55.40 and a fifty-two week high of $79.53.

EQT Midstream Partners (NYSE:EQM) last issued its quarterly earnings data on Thursday, February 15th. The pipeline company reported $1.28 earnings per share (EPS) 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 analyst estimates of $226.22 million. EQT Midstream Partners had a net margin of 63.33% and a return on equity of 25.24%. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.31 EPS. analysts predict that EQT Midstream Partners will post 5.87 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allianz Asset Management GmbH raised its position in EQT Midstream Partners by 25.8% during the fourth quarter. Allianz Asset Management GmbH now owns 174,594 shares of the pipeline company’s stock worth $12,762,000 after acquiring an additional 35,800 shares in the last quarter. Beach Investment Management LLC. bought a new stake in EQT Midstream Partners during the fourth quarter worth $879,000. BP Capital Fund Advisors LLC raised its position in EQT Midstream Partners by 32.7% during the fourth quarter. BP Capital Fund Advisors LLC now owns 76,364 shares of the pipeline company’s stock worth $5,582,000 after acquiring an additional 18,797 shares in the last quarter. FDx Advisors Inc. raised its position in EQT Midstream Partners by 15.3% during the fourth quarter. FDx Advisors Inc. now owns 7,765 shares of the pipeline company’s stock worth $568,000 after acquiring an additional 1,030 shares in the last quarter. Finally, MD Sass Investors Services Inc. raised its position in EQT Midstream Partners by 199.7% during the fourth quarter. MD Sass Investors Services Inc. now owns 116,300 shares of the pipeline company’s stock worth $8,502,000 after acquiring an additional 77,500 shares in the last quarter. 71.35% of the stock is currently owned by hedge funds and other institutional investors.

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About EQT Midstream Partners

EQT Midstream Partners, LP provides natural gas gathering, transmission, and storage services in Pennsylvania, West Virginia, and Ohio. The company owns, operates, acquires, and develops midstream assets in the Appalachian Basin. The company also owned approximately 300 miles of high pressure gathering lines and 1,500 miles of federal energy regulatory commission (FERC) regulated low pressure gathering lines; and approximately 950 miles of FERC regulated interstate pipelines.

Analyst Recommendations for EQT Midstream Partners (NYSE:EQM)

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