EQT Midstream Partners LP (EQM) Sets New 52-Week Low at $66.84

EQT Midstream Partners LP (NYSE:EQM) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $66.84 and last traded at $68.21, with a volume of 90900 shares. The stock had previously closed at $68.20.

Several brokerages recently issued reports on EQM. US Capital Advisors cut EQT Midstream Partners from a “buy” rating to a “buy” rating in a research note on Friday, November 17th. Morgan Stanley dropped their price objective on EQT Midstream Partners from $86.00 to $83.00 and set an “overweight” rating on the stock in a research note on Friday, November 17th. Mitsubishi UFJ Financial Group reissued an “overweight” rating on shares of EQT Midstream Partners in a research note on Thursday, October 26th. Zacks Investment Research cut EQT Midstream Partners from a “hold” rating to a “strong sell” rating in a research report on Monday, October 16th. Finally, Seaport Global Securities started coverage on EQT Midstream Partners in a research report on Tuesday, October 10th. They set a “buy” rating and a $96.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $90.83.

The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market cap of $5,590.00, a PE ratio of 13.07, a PEG ratio of 1.01 and a beta of 0.94.

EQT Midstream Partners (NYSE:EQM) last announced its earnings results on Thursday, October 26th. The pipeline company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.02. The business had revenue of $207.20 million for the quarter, compared to analysts’ expectations of $205.29 million. EQT Midstream Partners had a return on equity of 19.67% and a net margin of 68.99%. The business’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.23 EPS. equities analysts expect that EQT Midstream Partners LP will post 5.63 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Friday, November 3rd were given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 5.86%. The ex-dividend date was Thursday, November 2nd. This is a boost from EQT Midstream Partners’s previous quarterly dividend of $0.94. EQT Midstream Partners’s dividend payout ratio (DPR) is 74.95%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Alps Advisors Inc. lifted its holdings in shares of EQT Midstream Partners by 11.2% during the 3rd quarter. Alps Advisors Inc. now owns 4,761,137 shares of the pipeline company’s stock valued at $356,942,000 after purchasing an additional 480,995 shares during the last quarter. Marshall Wace North America L.P. lifted its holdings in shares of EQT Midstream Partners by 282.2% during the 2nd quarter. Marshall Wace North America L.P. now owns 488,401 shares of the pipeline company’s stock valued at $36,630,000 after purchasing an additional 360,601 shares during the last quarter. Hamlin Capital Management LLC lifted its holdings in shares of EQT Midstream Partners by 26.6% during the 2nd quarter. Hamlin Capital Management LLC now owns 1,116,129 shares of the pipeline company’s stock valued at $83,297,000 after purchasing an additional 234,542 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of EQT Midstream Partners by 20.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,271,917 shares of the pipeline company’s stock valued at $93,817,000 after purchasing an additional 219,261 shares during the last quarter. Finally, Citigroup Inc. lifted its holdings in shares of EQT Midstream Partners by 60.0% during the 2nd quarter. Citigroup Inc. now owns 449,721 shares of the pipeline company’s stock valued at $33,563,000 after purchasing an additional 168,675 shares during the last quarter. 62.92% of the stock is currently owned by institutional investors and hedge funds.

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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’s segments include Gathering and Transmission. The Gathering segment primarily includes high pressure gathering lines and the Federal Energy Regulatory Commission (FERC)-regulated low pressure gathering system.

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