EQT Midstream Partners (EQM) Price Target Lowered to $55.00 at Morgan Stanley

EQT Midstream Partners (NYSE:EQM) had its target price decreased by Morgan Stanley from $61.00 to $55.00 in a research report issued on Tuesday. The brokerage presently has a “buy” rating on the pipeline company’s stock. Morgan Stanley’s target price indicates a potential upside of 20.59% from the company’s current price.

Several other equities research analysts have also recently weighed in on EQM. Credit Suisse Group set a $52.00 price objective on EQT Midstream Partners and gave the stock a “hold” rating in a research note on Tuesday. Barclays reduced their price objective on EQT Midstream Partners from $60.00 to $59.00 and set an “overweight” rating on the stock in a research note on Friday, October 12th. Stifel Nicolaus reduced their price objective on EQT Midstream Partners from $61.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, October 9th. Citigroup reduced their price objective on EQT Midstream Partners to $64.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 25th. Finally, Bank of America reduced their price objective on EQT Midstream Partners from $64.00 to $62.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $61.64.

NYSE:EQM opened at $45.61 on Tuesday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $4.04 billion, a P/E ratio of 8.79 and a beta of 1.07. EQT Midstream Partners has a 12 month low of $44.01 and a 12 month high of $77.97.

EQT Midstream Partners (NYSE:EQM) last posted its earnings results on Thursday, October 25th. The pipeline company reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.07). The firm had revenue of $364.58 million during the quarter, compared to analysts’ expectations of $356.99 million. EQT Midstream Partners had a return on equity of 22.30% and a net margin of 60.71%. On average, equities research analysts anticipate that EQT Midstream Partners will post 5.81 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in EQM. Alps Advisors Inc. grew its stake in shares of EQT Midstream Partners by 50.3% during the third quarter. Alps Advisors Inc. now owns 7,320,737 shares of the pipeline company’s stock valued at $386,388,000 after buying an additional 2,450,666 shares during the last quarter. Tortoise Capital Advisors L.L.C. grew its stake in shares of EQT Midstream Partners by 23.0% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 10,188,782 shares of the pipeline company’s stock valued at $525,639,000 after buying an additional 1,903,618 shares during the last quarter. Bank of Montreal Can grew its stake in shares of EQT Midstream Partners by 241.4% during the third quarter. Bank of Montreal Can now owns 1,040,743 shares of the pipeline company’s stock valued at $54,930,000 after buying an additional 735,927 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of EQT Midstream Partners by 21.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,116,213 shares of the pipeline company’s stock valued at $111,694,000 after buying an additional 374,036 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of EQT Midstream Partners during the second quarter valued at approximately $11,465,000. 66.17% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for EQT Midstream Partners (NYSE:EQM)

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