EnTrustPermal Partners Offshore LP Acquires Shares of 40,000 EQT Midstream Partners LP (EQM)

EnTrustPermal Partners Offshore LP acquired a new stake in EQT Midstream Partners LP (NYSE:EQM) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 40,000 shares of the pipeline company’s stock, valued at approximately $2,924,000. EQT Midstream Partners comprises approximately 1.0% of EnTrustPermal Partners Offshore LP’s investment portfolio, making the stock its 24th largest holding.

Several other hedge funds and other institutional investors have also bought and sold shares of EQM. The Manufacturers Life Insurance Company raised its holdings in shares of EQT Midstream Partners by 49.6% in the second quarter. The Manufacturers Life Insurance Company now owns 3,613 shares of the pipeline company’s stock valued at $269,000 after purchasing an additional 1,198 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of EQT Midstream Partners by 2.9% in the third quarter. First Trust Advisors LP now owns 83,251 shares of the pipeline company’s stock valued at $6,241,000 after purchasing an additional 2,342 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of EQT Midstream Partners by 10.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 42,806 shares of the pipeline company’s stock valued at $3,209,000 after purchasing an additional 3,940 shares during the last quarter. American Century Companies Inc. raised 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 valued at $77,073,000 after purchasing an additional 127,956 shares during the last quarter. Finally, Keybank National Association OH acquired a new stake in shares of EQT Midstream Partners in the third quarter valued at approximately $259,000. Institutional investors own 71.41% of the company’s stock.

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A number of analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of EQT Midstream Partners from a “hold” rating to a “sell” rating in a report on Thursday, January 18th. Stifel Nicolaus set a $90.00 price objective on shares of EQT Midstream Partners and gave the company a “buy” rating in a report on Wednesday, January 17th. Bank of America assumed coverage on shares of EQT Midstream Partners in a report on Tuesday, January 9th. They issued a “buy” rating and a $89.00 price objective on the stock. Credit Suisse Group assumed coverage on shares of EQT Midstream Partners in a report on Friday, January 5th. They issued a “neutral” rating and a $71.00 price objective on the stock. Finally, ValuEngine downgraded shares of EQT Midstream Partners from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. EQT Midstream Partners currently has a consensus rating of “Hold” and an average price target of $84.20.

EQT Midstream Partners LP (EQM) opened at $61.07 on Friday. The firm has a market cap of $4,842.16, a price-to-earnings ratio of 11.77, a P/E/G ratio of 0.88 and a beta of 0.92. EQT Midstream Partners LP has a fifty-two week low of $59.96 and a fifty-two week high of $79.93. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.54.

EQT Midstream Partners (NYSE:EQM) last issued its earnings results on Thursday, February 15th. The pipeline company reported $1.28 earnings per share 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 return on equity of 25.24% and a net margin of 63.33%. EQT Midstream Partners’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.31 earnings per share. analysts anticipate that EQT Midstream Partners LP will post 5.67 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Friday, February 2nd were issued a dividend of $1.025 per share. This represents a $4.10 dividend on an annualized basis and a yield of 6.71%. This is an increase from EQT Midstream Partners’s previous quarterly dividend of $0.98. The ex-dividend date was Thursday, February 1st. EQT Midstream Partners’s payout ratio is presently 79.00%.

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EQT Midstream Partners Profile

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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Institutional Ownership by Quarter for EQT Midstream Partners (NYSE:EQM)

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