EQT Midstream Partners (EQM) Price Target Cut to $59.00 by Analysts at Barclays

Share on StockTwits

EQT Midstream Partners (NYSE:EQM) had its price target lowered by investment analysts at Barclays from $60.00 to $59.00 in a research note issued to investors on Friday, Stock Target Advisor reports. The brokerage currently has an “overweight” rating on the pipeline company’s stock. Barclays’ price objective suggests a potential upside of 14.70% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. LADENBURG THALM/SH SH decreased their target price on shares of EQT Midstream Partners from $81.00 to $29.00 and set a “buy” rating for the company in a research note on Friday, August 17th. Stifel Nicolaus decreased their target price on shares of EQT Midstream Partners from $66.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, August 17th. Zacks Investment Research downgraded shares of EQT Midstream Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. Jefferies Financial Group assumed coverage on shares of EQT Midstream Partners in a research note on Wednesday, July 25th. They set a “buy” rating and a $65.00 target price for the company. Finally, Morgan Stanley decreased their target price on shares of EQT Midstream Partners from $65.00 to $61.00 and set an “overweight” rating for the company in a research note on Friday, August 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. EQT Midstream Partners currently has an average rating of “Buy” and a consensus price target of $62.43.

Shares of EQM opened at $51.44 on Friday. EQT Midstream Partners has a fifty-two week low of $48.91 and a fifty-two week high of $77.97. The stock has a market cap of $4.56 billion, a PE ratio of 9.91 and a beta of 1.07. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.42 and a quick ratio of 1.42.

EQT Midstream Partners (NYSE:EQM) last announced its earnings results on Thursday, July 26th. The pipeline company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.29). EQT Midstream Partners had a return on equity of 26.66% and a net margin of 63.76%. The business had revenue of $269.76 million for the quarter, compared to analyst estimates of $247.61 million. During the same quarter last year, the company posted $1.27 EPS. EQT Midstream Partners’s quarterly revenue was up 37.1% on a year-over-year basis. On average, sell-side analysts anticipate that EQT Midstream Partners will post 5.8 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Diversified Trust Co raised its holdings in EQT Midstream Partners by 16.1% during the second quarter. Diversified Trust Co now owns 23,190 shares of the pipeline company’s stock worth $1,196,000 after purchasing an additional 3,215 shares in the last quarter. Tortoise Index Solutions LLC increased its holdings in EQT Midstream Partners by 16.2% in the second quarter. Tortoise Index Solutions LLC now owns 8,908 shares of the pipeline company’s stock valued at $460,000 after buying an additional 1,242 shares in the last quarter. Keybank National Association OH increased its holdings in EQT Midstream Partners by 26.2% in the second quarter. Keybank National Association OH now owns 4,753 shares of the pipeline company’s stock valued at $245,000 after buying an additional 987 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in EQT Midstream Partners by 3.0% in the second quarter. PNC Financial Services Group Inc. now owns 135,435 shares of the pipeline company’s stock valued at $6,988,000 after buying an additional 3,886 shares in the last quarter. Finally, Securian Asset Management Inc increased its holdings in EQT Midstream Partners by 179.7% in the second quarter. Securian Asset Management Inc now owns 36,578 shares of the pipeline company’s stock valued at $1,887,000 after buying an additional 23,500 shares in the last quarter. 65.72% of the stock is owned by hedge funds and other institutional investors.

EQT Midstream Partners Company Profile

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.

Read More: Penny Stocks, What You Need To Know

Stock Target Advisor

Analyst Recommendations for EQT Midstream Partners (NYSE:EQM)

Receive News & Ratings for EQT Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQT Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply