Analysts Expect EQT Midstream Partners (EQM) Will Post Quarterly Sales of $231.55 Million

Brokerages expect EQT Midstream Partners (NYSE:EQM) to post $231.55 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for EQT Midstream Partners’ earnings. The highest sales estimate is $237.41 million and the lowest is $226.00 million. EQT Midstream Partners reported sales of $203.43 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 13.8%. The business is expected to report its next quarterly earnings report before the market opens on Thursday, April 26th.

On average, analysts expect that EQT Midstream Partners will report full year sales of $1.03 billion for the current year, with estimates ranging from $949.10 million to $1.09 billion. For the next financial year, analysts anticipate that the company will post sales of $1.45 billion per share, with estimates ranging from $1.16 billion to $1.96 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover EQT Midstream Partners.

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EQT Midstream Partners (NYSE:EQM) last posted its quarterly earnings results on Thursday, February 15th. The pipeline company reported $1.28 EPS for the quarter, missing the consensus estimate of $1.55 by ($0.27). EQT Midstream Partners had a return on equity of 25.24% and a net margin of 63.33%. The company had revenue of $224.51 million for the quarter, compared to analysts’ expectations of $226.22 million. During the same quarter in the prior year, the firm earned $1.31 EPS. The firm’s revenue was up 15.1% on a year-over-year basis.

Several research analysts have recently commented on EQM shares. Stifel Nicolaus reduced their price target on EQT Midstream Partners from $90.00 to $89.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Bank of America started coverage on EQT Midstream Partners in a report on Tuesday, January 9th. They set a “buy” rating and a $89.00 price target on the stock. Seaport Global Securities upgraded EQT Midstream Partners from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $70.00 to $67.00 in a report on Monday, April 9th. TheStreet lowered EQT Midstream Partners from a “b-” rating to a “c+” rating in a report on Monday, March 19th. Finally, ValuEngine lowered EQT Midstream Partners from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. EQT Midstream Partners currently has an average rating of “Hold” and an average price target of $78.40.

Shares of NYSE EQM traded up $0.98 during trading on Friday, hitting $62.68. 203,355 shares of the company were exchanged, compared to its average volume of 437,573. EQT Midstream Partners has a 12-month low of $55.40 and a 12-month high of $79.53. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.54. The firm has a market cap of $4,802.67, a PE ratio of 12.19, a P/E/G ratio of 0.85 and a beta of 0.94.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Dearborn Partners LLC raised its holdings in EQT Midstream Partners by 26.3% in the 4th quarter. Dearborn Partners LLC now owns 3,456 shares of the pipeline company’s stock valued at $253,000 after buying an additional 719 shares during the period. Oppenheimer Asset Management Inc. grew its position in EQT Midstream Partners by 14.3% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 6,721 shares of the pipeline company’s stock valued at $504,000 after acquiring an additional 842 shares in the last quarter. FDx Advisors Inc. grew its position in EQT Midstream Partners by 15.3% in the 4th quarter. FDx Advisors Inc. now owns 7,765 shares of the pipeline company’s stock valued at $568,000 after acquiring an additional 1,030 shares in the last quarter. Janney Montgomery Scott LLC grew its position in EQT Midstream Partners by 3.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 35,320 shares of the pipeline company’s stock valued at $2,648,000 after acquiring an additional 1,051 shares in the last quarter. Finally, Advisory Services Network LLC grew its position 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 valued at $190,000 after acquiring an additional 1,273 shares in the last quarter. Hedge funds and other institutional investors own 71.35% of the company’s stock.

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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.

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