EQT Midstream Partners LP (NYSE:EQM) – Research analysts at US Capital Advisors decreased their FY2017 earnings per share (EPS) estimates for EQT Midstream Partners in a research report issued on Thursday. US Capital Advisors analyst B. Followill now anticipates that the pipeline company will earn $5.29 per share for the year, down from their prior forecast of $5.32. US Capital Advisors has a “Buy” rating on the stock. US Capital Advisors also issued estimates for EQT Midstream Partners’ Q4 2017 earnings at $1.38 EPS, Q1 2018 earnings at $1.28 EPS, Q2 2018 earnings at $1.22 EPS, Q3 2018 earnings at $1.31 EPS, Q4 2018 earnings at $1.49 EPS, FY2018 earnings at $5.30 EPS and FY2019 earnings at $6.59 EPS.
A number of other equities analysts also recently issued reports on the company. Seaport Global Securities assumed coverage on EQT Midstream Partners in a research note on Tuesday, October 10th. They set a “buy” rating and a $96.00 price target for the company. Royal Bank of Canada reiterated a “buy” rating and set a $96.00 price target on shares of EQT Midstream Partners in a research note on Tuesday, October 10th. ValuEngine downgraded EQT Midstream Partners from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Credit Suisse Group assumed coverage on EQT Midstream Partners in a research note on Friday. They set a “neutral” rating and a $71.00 price target for the company. Finally, Morgan Stanley cut their price target on EQT Midstream Partners from $86.00 to $83.00 and set an “overweight” rating for the company in a research note on Friday, November 17th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $88.00.
EQT Midstream Partners (NYSE:EQM) last issued its earnings results on Thursday, October 26th. The pipeline company reported $1.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.02. The company had revenue of $207.20 million during the quarter, compared to the consensus estimate of $205.29 million. EQT Midstream Partners had a return on equity of 25.85% and a net margin of 65.99%. The firm’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period last year, the business posted $1.23 EPS.
A number of hedge funds have recently modified their holdings of EQM. Alps Advisors Inc. raised its holdings in EQT Midstream Partners by 11.2% during the 3rd quarter. Alps Advisors Inc. now owns 4,761,137 shares of the pipeline company’s stock valued at $356,942,000 after acquiring an additional 480,995 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of EQT Midstream Partners by 20.8% in the third quarter. JPMorgan Chase & Co. now owns 1,271,917 shares of the pipeline company’s stock worth $93,817,000 after purchasing an additional 219,261 shares during the period. Citigroup Inc. increased its holdings in shares of EQT Midstream Partners by 60.0% in the second quarter. Citigroup Inc. now owns 449,721 shares of the pipeline company’s stock worth $33,563,000 after purchasing an additional 168,675 shares during the period. Cadence Capital Management LLC bought a new position in shares of EQT Midstream Partners in the third quarter worth $11,963,000. Finally, American Century Companies Inc. increased its holdings in shares of EQT Midstream Partners by 14.2% in the third quarter. American Century Companies Inc. now owns 1,028,054 shares of the pipeline company’s stock worth $77,073,000 after purchasing an additional 127,956 shares during the period. 73.71% of the stock is currently owned by institutional investors and hedge funds.
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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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