EQT Midstream Partners LP (NYSE:EQM) has received a consensus recommendation of “Buy” from the thirteen ratings firms that are currently covering the firm. Six analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $87.94.
Several equities analysts have recently commented on the company. Zacks Investment Research raised EQT Midstream Partners from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. Morgan Stanley reaffirmed a “hold” rating and issued a $83.00 target price on shares of EQT Midstream Partners in a research report on Wednesday, September 21st. Finally, Credit Suisse Group AG reaffirmed a “neutral” rating on shares of EQT Midstream Partners in a research report on Tuesday, August 16th.
A number of large investors have recently added to or reduced their stakes in EQM. Zions Bancorporation acquired a new stake in EQT Midstream Partners during the first quarter valued at $113,000. Americafirst Capital Management LLC purchased a new position in shares of EQT Midstream Partners during the second quarter worth approximately $130,000. CENTRAL TRUST Co boosted its position 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 last quarter. Solaris Asset Management LLC boosted its position 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 last quarter. Finally, Cedar Wealth Management LLC purchased a new position in shares of EQT Midstream Partners during the second quarter worth approximately $199,000.
Shares of EQT Midstream Partners (NYSE:EQM) opened at 76.19 on Tuesday. The company’s 50-day moving average price is $77.97 and its 200-day moving average price is $76.36. The firm has a market capitalization of $6.14 billion, a PE ratio of 15.07 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.
EQT Midstream Partners (NYSE:EQM) last posted its earnings results on Thursday, July 28th. The company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.15 by $0.12. The firm earned $172 million during the quarter, compared to analyst estimates of $172.47 million. During the same period in the previous year, the company posted $1.12 EPS. EQT Midstream Partners’s revenue for the quarter was up 18.9% compared to the same quarter last year. Analysts anticipate that EQT Midstream Partners will post $5.06 EPS for the current year.
About EQT Midstream Partners
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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