EQM Midstream Partners LP to Post Q1 2019 Earnings of $0.96 Per Share, US Capital Advisors Forecasts (EQM)

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EQM Midstream Partners LP (NYSE:EQM) – Investment analysts at US Capital Advisors boosted their Q1 2019 earnings estimates for EQM Midstream Partners in a research note issued on Monday, March 18th. US Capital Advisors analyst B. Followill now forecasts that the pipeline company will post earnings per share of $0.96 for the quarter, up from their prior estimate of $0.91. US Capital Advisors has a “Hold” rating on the stock. US Capital Advisors also issued estimates for EQM Midstream Partners’ Q2 2019 earnings at $0.90 EPS, Q3 2019 earnings at $0.92 EPS, Q4 2019 earnings at $0.97 EPS, FY2019 earnings at $3.75 EPS, Q1 2020 earnings at $0.97 EPS, Q2 2020 earnings at $0.98 EPS, Q3 2020 earnings at $1.16 EPS and FY2020 earnings at $4.35 EPS.

EQM Midstream Partners (NYSE:EQM) last announced its quarterly earnings results on Thursday, February 14th. The pipeline company reported ($0.89) EPS for the quarter, missing the Zacks’ consensus estimate of $1.30 by ($2.19). The company had revenue of $384.80 million during the quarter, compared to analysts’ expectations of $380.81 million. EQM Midstream Partners had a return on equity of 19.63% and a net margin of 36.10%. EQM Midstream Partners’s revenue for the quarter was up 31.6% on a year-over-year basis. During the same period last year, the firm earned $1.28 earnings per share.

EQM has been the topic of several other reports. JPMorgan Chase & Co. cut EQM Midstream Partners from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $55.00 to $54.00 in a research note on Wednesday, February 6th. Mitsubishi UFJ Financial Group cut EQM Midstream Partners from an “overweight” rating to a “neutral” rating in a research note on Thursday, February 14th. Barclays reduced their target price on EQM Midstream Partners from $48.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 6th. Citigroup raised EQM Midstream Partners from a “neutral” rating to a “buy” rating and reduced their target price for the company from $82.00 to $58.00 in a research note on Thursday, November 29th. Finally, Wolfe Research raised EQM Midstream Partners from a “peer perform” rating to an “outperform” rating and set a $66.00 target price on the stock in a research note on Tuesday, November 20th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the stock. EQM Midstream Partners has a consensus rating of “Hold” and a consensus target price of $57.81.

Shares of EQM Midstream Partners stock opened at $44.94 on Wednesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.55 and a current ratio of 0.55. EQM Midstream Partners has a one year low of $38.24 and a one year high of $63.73. The company has a market capitalization of $5.37 billion, a price-to-earnings ratio of 8.71 and a beta of 1.09.

A number of hedge funds have recently modified their holdings of the stock. Tortoise Capital Advisors L.L.C. grew its stake in EQM Midstream Partners by 47.4% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 15,016,757 shares of the pipeline company’s stock worth $792,584,000 after purchasing an additional 4,827,975 shares during the period. Alps Advisors Inc. grew its stake in EQM Midstream Partners by 12.6% in the fourth quarter. Alps Advisors Inc. now owns 8,242,295 shares of the pipeline company’s stock worth $356,479,000 after purchasing an additional 921,558 shares during the period. OppenheimerFunds Inc. grew its stake in EQM Midstream Partners by 119.8% in the third quarter. OppenheimerFunds Inc. now owns 5,039,631 shares of the pipeline company’s stock worth $265,991,000 after purchasing an additional 2,746,887 shares during the period. Neuberger Berman Group LLC grew its stake in EQM Midstream Partners by 19.5% in the third quarter. Neuberger Berman Group LLC now owns 4,886,383 shares of the pipeline company’s stock worth $257,904,000 after purchasing an additional 796,236 shares during the period. Finally, Brookfield Asset Management Inc. grew its stake in EQM Midstream Partners by 532.4% in the third quarter. Brookfield Asset Management Inc. now owns 2,097,579 shares of the pipeline company’s stock worth $110,710,000 after purchasing an additional 1,765,910 shares during the period. 67.23% of the stock is currently owned by institutional investors.

About EQM Midstream Partners

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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Earnings History and Estimates for EQM Midstream Partners (NYSE:EQM)

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