EQT Midstream Partners (NYSE:EQM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday.
According to Zacks, “EQT Midstream Partners, LP is formed to own, operate, acquire and develop midstream assets in the Appalachian Basin. The Company provides substantially all of its natural gas transmission, storage and gathering services under contracts with fixed reservation and/or usage fees. It operates primarily in the Marcellus Shale area of southern Pennsylvania and northern West Virginia. EQT Midstream Partners, LP is based in Pittsburgh, Pennsylvania. “
A number of other research firms have also issued reports on EQM. Credit Suisse Group started coverage on EQT Midstream Partners in a research note on Friday, January 5th. They set a “neutral” rating and a $71.00 price objective on the stock. Stifel Nicolaus decreased their price objective on EQT Midstream Partners from $90.00 to $89.00 and set a “buy” rating on the stock in a research note on Friday. ValuEngine lowered EQT Midstream Partners from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Mitsubishi UFJ Financial Group reiterated an “overweight” rating on shares of EQT Midstream Partners in a research note on Thursday, October 26th. Finally, Morgan Stanley decreased their price objective 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. EQT Midstream Partners has a consensus rating of “Hold” and an average price target of $85.25.
EQT Midstream Partners (NYSE:EQM) last issued its quarterly earnings results on Thursday, February 15th. The pipeline company reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.27). EQT Midstream Partners had a net margin of 63.33% and a return on equity of 25.24%. The firm had revenue of $224.51 million for the quarter, compared to analysts’ expectations of $226.22 million. During the same period in the prior year, the company earned $1.31 EPS. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. research analysts forecast that EQT Midstream Partners will post 5.98 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. bought a new position in EQT Midstream Partners in the 4th quarter worth about $115,000. Captrust Financial Advisors bought a new position in EQT Midstream Partners in the 4th quarter worth about $122,000. Saratoga Research & Investment Management bought a new position in EQT Midstream Partners in the 3rd quarter worth about $186,000. Stuart Chaussee & Associates Inc. bought a new position in EQT Midstream Partners in the 4th quarter worth about $181,000. Finally, Advisory Services Network LLC increased its stake in EQT Midstream Partners by 95.9% in the 4th quarter. Advisory Services Network LLC now owns 2,600 shares of the pipeline company’s stock worth $190,000 after acquiring an additional 1,273 shares during the last quarter. Institutional investors and hedge funds own 74.89% of the company’s stock.
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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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