EQT Midstream Partners LP (NYSE:EQM) – Equities researchers at US Capital Advisors lowered their FY2017 EPS estimates for shares of EQT Midstream Partners in a report issued on Thursday. US Capital Advisors analyst B. Followill now expects that the pipeline company will earn $5.29 per share for the year, down from their prior estimate of $5.32. US Capital Advisors has a “Buy” rating on the stock. US Capital Advisors also issued estimates for EQT Midstream Partners’ Q4 2017 earnings at $1.38 EPS, Q1 2018 earnings at $1.28 EPS, Q2 2018 earnings at $1.22 EPS, Q3 2018 earnings at $1.31 EPS, Q4 2018 earnings at $1.49 EPS, FY2018 earnings at $5.30 EPS and FY2019 earnings at $6.59 EPS.
EQT Midstream Partners (NYSE:EQM) last released its quarterly earnings data on Thursday, October 26th. The pipeline company reported $1.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.02. EQT Midstream Partners had a net margin of 65.99% and a return on equity of 25.85%. The firm had revenue of $207.20 million during the quarter, compared to analysts’ expectations of $205.29 million. During the same period last year, the business earned $1.23 earnings per share. EQT Midstream Partners’s revenue was up 17.2% compared to the same quarter last year.
EQM has been the subject of several other reports. Morgan Stanley cut their price objective on shares of EQT Midstream Partners from $86.00 to $83.00 and set an “overweight” rating for the company in a research report on Friday, November 17th. Mitsubishi UFJ Financial Group reaffirmed an “overweight” rating on shares of EQT Midstream Partners in a research note on Thursday, October 26th. Royal Bank of Canada reaffirmed a “buy” rating and set a $96.00 target price on shares of EQT Midstream Partners in a research note on Tuesday, October 10th. Credit Suisse Group assumed coverage on shares of EQT Midstream Partners in a research note on Friday. They set a “neutral” rating and a $71.00 target price for the company. Finally, ValuEngine lowered shares of EQT Midstream Partners from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $88.00.
Shares of EQT Midstream Partners (NYSE:EQM) opened at $75.14 on Friday. EQT Midstream Partners has a 12-month low of $64.42 and a 12-month high of $82.99. The stock has a market cap of $6,089.56, a PE ratio of 14.39, a P/E/G ratio of 1.11 and a beta of 0.89. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.90 and a current ratio of 0.90.
A number of hedge funds have recently made changes to their positions in EQM. Atlantic Trust Group LLC boosted its stake in EQT Midstream Partners by 8.2% during the second quarter. Atlantic Trust Group LLC now owns 49,479 shares of the pipeline company’s stock worth $3,692,000 after buying an additional 3,760 shares during the period. Alliancebernstein L.P. boosted its stake in EQT Midstream Partners by 5.9% during the second quarter. Alliancebernstein L.P. now owns 14,356 shares of the pipeline company’s stock worth $1,071,000 after buying an additional 803 shares during the period. Uniplan Investment Counsel Inc. boosted its stake in EQT Midstream Partners by 3.8% during the second quarter. Uniplan Investment Counsel Inc. now owns 64,772 shares of the pipeline company’s stock worth $4,834,000 after buying an additional 2,367 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its stake in EQT Midstream Partners by 46.1% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 156,900 shares of the pipeline company’s stock worth $11,709,000 after buying an additional 49,500 shares during the period. Finally, Citigroup Inc. boosted its stake in shares of EQT Midstream Partners by 60.0% in the second 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 period. 73.71% of the stock is owned by institutional investors.
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About EQT Midstream Partners
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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