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 analysts also recently commented on EQM. Morgan Stanley restated a hold rating and set a $83.00 price objective on shares of EQT Midstream Partners in a research note on Wednesday, September 21st. Credit Suisse Group AG restated a neutral rating on shares of EQT Midstream Partners in a research note on Tuesday, August 16th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. EQT Midstream Partners currently has an average rating of Buy and an average price target of $89.85.
Shares of EQT Midstream Partners (NYSE:EQM) opened at 76.72 on Tuesday. EQT Midstream Partners has a 52-week low of $56.52 and a 52-week high of $80.63. The stock has a market cap of $6.18 billion, a PE ratio of 15.17 and a beta of 0.94. The company’s 50-day moving average price is $78.03 and its 200-day moving average price is $76.34.
EQT Midstream Partners (NYSE:EQM) last issued its quarterly earnings data on Thursday, July 28th. The company reported $1.27 EPS for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.12. The company had revenue of $172 million for the quarter, compared to the consensus estimate of $172.47 million. EQT Midstream Partners’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.12 earnings per share. Analysts expect that EQT Midstream Partners will post $5.06 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the stock. Silvercrest Asset Management Group LLC raised its stake in shares of EQT Midstream Partners by 40.8% in the first quarter. Silvercrest Asset Management Group LLC now owns 146,112 shares of the company’s stock valued at $10,875,000 after buying an additional 42,311 shares during the period. Zions Bancorporation bought a new stake in shares of EQT Midstream Partners during the first quarter valued at approximately $113,000. TPH Asset Management LLC increased its stake in shares of EQT Midstream Partners by 36.9% in the first quarter. TPH Asset Management LLC now owns 451,809 shares of the company’s stock valued at $32,995,000 after buying an additional 121,722 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of EQT Midstream Partners during the first quarter valued at approximately $2,791,000. Finally, Uniplan Investment Counsel Inc. bought a new stake in shares of EQT Midstream Partners during the first quarter valued at approximately $2,550,000.
EQT Midstream Partners Company Profile
EQT Midstream Partners, LP (EQM) owns, operates, acquires and develops midstream assets in the Appalachian Basin. The Company operates through two segments: Transmission and storage, which includes its Federal Energy Regulatory Commission (FERC)-regulated interstate pipeline and storage business, and Gathering, which includes high pressure gathering lines and the FERC-regulated low pressure gathering system.
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