EQT Midstream Partners LP (EQM) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of EQT Midstream Partners LP (NYSE:EQM) from a buy rating to a hold rating in a research note published on Monday morning.

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. “

EQM has been the topic of several other reports. Credit Suisse Group AG reaffirmed a neutral rating on shares of EQT Midstream Partners in a research note on Tuesday, August 16th. Stifel Nicolaus lifted their target price on shares of EQT Midstream Partners from $78.00 to $82.00 and gave the stock a hold rating in a research note on Friday, October 14th. Morgan Stanley reaffirmed a hold rating and issued a $83.00 target price on shares of EQT Midstream Partners in a research note on Wednesday, September 21st. Finally, Deutsche Bank AG reaffirmed a buy rating on shares of EQT Midstream Partners in a research note on Friday, October 14th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $83.81.

Analyst Recommendations for EQT Midstream Partners (NYSE:EQM)

EQT Midstream Partners (NYSE:EQM) opened at 74.90 on Monday. The firm has a market cap of $6.04 billion, a P/E ratio of 14.56 and a beta of 0.94. EQT Midstream Partners has a 12-month low of $56.52 and a 12-month high of $80.63. The firm’s 50-day moving average is $74.71 and its 200 day moving average is $76.43.

EQT Midstream Partners (NYSE:EQM) last posted its quarterly earnings results on Thursday, October 27th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.18 by $0.05. The business had revenue of $170.84 million for the quarter, compared to analysts’ expectations of $176.24 million. The company’s revenue was up 14.8% compared to the same quarter last year. During the same period last year, the business posted $1.12 earnings per share. Equities analysts forecast that EQT Midstream Partners will post $5.22 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Friday, November 4th were issued a dividend of $0.815 per share. This represents a $3.26 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend was Wednesday, November 2nd. This is a boost from EQT Midstream Partners’s previous quarterly dividend of $0.78.

Several hedge funds have recently made changes to their positions in the stock. Americafirst Capital Management LLC acquired a new stake in shares of EQT Midstream Partners during the second quarter worth approximately $130,000. CENTRAL TRUST Co boosted its stake in shares of EQT Midstream Partners by 31.3% in the second quarter. CENTRAL TRUST Co now owns 1,699 shares of the company’s stock worth $136,000 after buying an additional 405 shares during the period. Quantbot Technologies LP boosted its stake in shares of EQT Midstream Partners by 46.4% in the third quarter. Quantbot Technologies LP now owns 1,731 shares of the company’s stock worth $131,000 after buying an additional 549 shares during the period. Solaris Asset Management LLC boosted its stake in shares of EQT Midstream Partners by 28.1% in the second quarter. Solaris Asset Management LLC now owns 2,050 shares of the company’s stock worth $165,000 after buying an additional 450 shares during the period. Finally, Creative Planning boosted its stake in shares of EQT Midstream Partners by 45.8% in the third quarter. Creative Planning now owns 2,294 shares of the company’s stock worth $175,000 after buying an additional 721 shares during the period.

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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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