Silvercrest Asset Management Group LLC raised its holdings in EQT Midstream Partners LP (NYSE:EQM) by 12.3% in the first quarter, HoldingsChannel.com reports. The fund owned 220,737 shares of the pipeline company’s stock after buying an additional 24,192 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in EQT Midstream Partners were worth $13,030,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the business. Susquehanna Fundamental Investments LLC acquired a new stake in EQT Midstream Partners in the first quarter valued at $1,606,000. Green Square Capital LLC lifted its holdings in EQT Midstream Partners by 24.6% in the first quarter. Green Square Capital LLC now owns 39,192 shares of the pipeline company’s stock valued at $2,314,000 after acquiring an additional 7,730 shares during the period. UBS Group AG lifted its holdings in EQT Midstream Partners by 24.8% in the first quarter. UBS Group AG now owns 1,598,311 shares of the pipeline company’s stock valued at $94,349,000 after acquiring an additional 317,419 shares during the period. Botty Investors LLC lifted its holdings in EQT Midstream Partners by 75.5% in the first quarter. Botty Investors LLC now owns 19,764 shares of the pipeline company’s stock valued at $1,167,000 after acquiring an additional 8,503 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC acquired a new stake in EQT Midstream Partners in the first quarter valued at $10,596,000. 72.70% of the stock is owned by institutional investors.
A number of equities research analysts have commented on EQM shares. Stifel Nicolaus reduced their target price on EQT Midstream Partners from $90.00 to $89.00 and set a “buy” rating for the company in a report on Friday, February 16th. Deutsche Bank started coverage on EQT Midstream Partners in a report on Friday, April 20th. They issued a “buy” rating and a $78.00 target price for the company. Morgan Stanley reduced their target price on EQT Midstream Partners from $83.00 to $77.00 and set an “overweight” rating for the company in a report on Friday, March 16th. Seaport Global Securities downgraded EQT Midstream Partners from a “buy” rating to a “neutral” rating in a report on Tuesday, February 20th. Finally, Barclays reduced their target price on EQT Midstream Partners from $85.00 to $83.00 and set an “overweight” rating for the company in a report on Tuesday, February 27th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $75.73.
EQT Midstream Partners opened at $59.36 on Wednesday, Marketbeat Ratings reports. The firm has a market cap of $4.78 billion, a PE ratio of 11.44 and a beta of 0.90. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.90 and a quick ratio of 0.90. EQT Midstream Partners LP has a 52-week low of $50.89 and a 52-week high of $78.75.
EQT Midstream Partners (NYSE:EQM) last released its quarterly earnings results on Thursday, April 26th. The pipeline company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.19. The business had revenue of $232.80 million during the quarter, compared to the consensus estimate of $232.38 million. EQT Midstream Partners had a return on equity of 26.35% and a net margin of 65.11%. The business’s revenue was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.36 EPS. analysts expect that EQT Midstream Partners LP will post 5.69 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, May 15th. Stockholders of record on Friday, May 4th were paid a dividend of $1.065 per share. This represents a $4.26 annualized dividend and a dividend yield of 7.18%. The ex-dividend date of this dividend was Thursday, May 3rd. This is an increase from EQT Midstream Partners’s previous quarterly dividend of $1.03. EQT Midstream Partners’s payout ratio is 82.08%.
EQT Midstream Partners 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.
Want to see what other hedge funds are holding EQM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EQT Midstream Partners LP (NYSE:EQM).
Receive News & Ratings for EQT Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQT Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.