Wells Fargo & Co reaffirmed their outperform rating on shares of EQT Midstream Partners (NYSE:EQM) in a research report sent to investors on Wednesday. Wells Fargo & Co currently has a $77.00 price target on the pipeline company’s stock, down from their prior price target of $85.00.
Other equities analysts have also recently issued reports about the company. Stifel Nicolaus cut their target price on EQT Midstream Partners from $90.00 to $89.00 and set a buy rating on the stock in a report on Friday, February 16th. Bank of America initiated coverage on EQT Midstream Partners in a research note on Tuesday, January 9th. They set a buy rating and a $89.00 price objective on the stock. US Capital Advisors cut EQT Midstream Partners from a buy rating to a buy rating in a research note on Friday, November 17th. ValuEngine cut EQT Midstream Partners from a buy rating to a hold rating in a research note on Sunday, December 31st. Finally, Zacks Investment Research upgraded EQT Midstream Partners from a sell rating to a hold rating in a research note on Monday, February 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $84.33.
EQT Midstream Partners (EQM) opened at $61.99 on Wednesday. EQT Midstream Partners has a twelve month low of $60.59 and a twelve month high of $80.44. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $5,080.00, a price-to-earnings ratio of 11.94, a P/E/G ratio of 0.90 and a beta of 0.77.
EQT Midstream Partners (NYSE:EQM) last issued its earnings results on Thursday, February 15th. The pipeline company reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.27). EQT Midstream Partners had a return on equity of 25.24% and a net margin of 63.33%. The firm had revenue of $224.51 million during the quarter, compared to the consensus estimate of $226.22 million. During the same quarter in the prior year, the business earned $1.31 earnings per share. EQT Midstream Partners’s revenue for the quarter was up 15.1% on a year-over-year basis. analysts predict that EQT Midstream Partners will post 5.71 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Friday, February 2nd were paid a dividend of $1.025 per share. This represents a $4.10 dividend on an annualized basis and a dividend yield of 6.61%. This is a boost from EQT Midstream Partners’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend was Thursday, February 1st. EQT Midstream Partners’s payout ratio is presently 79.00%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of EQT Midstream Partners during the 4th quarter worth $115,000. Captrust Financial Advisors bought a new stake in shares of EQT Midstream Partners during the 4th quarter worth $122,000. Stuart Chaussee & Associates Inc. bought a new stake in shares of EQT Midstream Partners during the 4th quarter worth $181,000. Saratoga Research & Investment Management bought a new stake in shares of EQT Midstream Partners during the 3rd quarter worth $186,000. Finally, Advisory Services Network LLC raised its stake in shares of EQT Midstream Partners by 95.9% during the 4th quarter. Advisory Services Network LLC now owns 2,600 shares of the pipeline company’s stock worth $190,000 after purchasing an additional 1,273 shares during the period. Institutional investors own 74.89% of the company’s stock.
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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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