EQT Midstream Partners LP (EQM) Holdings Trimmed by OppenheimerFunds Inc.

Share on StockTwits

OppenheimerFunds Inc. cut its stake in EQT Midstream Partners LP (NYSE:EQM) by 8.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,182,290 shares of the pipeline company’s stock after selling 199,634 shares during the period. OppenheimerFunds Inc. owned approximately 2.71% of EQT Midstream Partners worth $128,821,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Alps Advisors Inc. increased its holdings in EQT Midstream Partners by 2.3% in the fourth quarter. Alps Advisors Inc. now owns 4,871,408 shares of the pipeline company’s stock valued at $356,100,000 after buying an additional 110,271 shares in the last quarter. Neuberger Berman Group LLC grew its position in shares of EQT Midstream Partners by 10.9% in the first quarter. Neuberger Berman Group LLC now owns 3,433,206 shares of the pipeline company’s stock valued at $202,662,000 after purchasing an additional 338,115 shares during the last quarter. Kayne Anderson Capital Advisors LP grew its position in shares of EQT Midstream Partners by 6.6% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 2,671,595 shares of the pipeline company’s stock valued at $195,277,000 after purchasing an additional 164,303 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of EQT Midstream Partners by 45.9% in the first quarter. JPMorgan Chase & Co. now owns 1,954,024 shares of the pipeline company’s stock valued at $115,347,000 after purchasing an additional 614,562 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of EQT Midstream Partners by 5.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,643,813 shares of the pipeline company’s stock valued at $97,034,000 after purchasing an additional 81,733 shares during the last quarter. 71.54% of the stock is owned by institutional investors.

Shares of EQT Midstream Partners opened at $54.03 on Friday, according to Marketbeat.com. EQT Midstream Partners LP has a 1 year low of $50.89 and a 1 year high of $78.75. The company has a market cap of $4.52 billion, a P/E ratio of 10.41 and a beta of 0.90. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.59.

EQT Midstream Partners (NYSE:EQM) last announced its earnings results on Thursday, April 26th. The pipeline company reported $1.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.19. EQT Midstream Partners had a net margin of 65.11% and a return on equity of 26.35%. The firm had revenue of $232.80 million for the quarter, compared to analyst estimates of $232.38 million. During the same quarter last year, the business earned $1.36 earnings per share. EQT Midstream Partners’s revenue was up 16.3% compared to the same quarter last year. sell-side analysts anticipate that EQT Midstream Partners LP will post 5.89 earnings per share for the current year.

Several analysts have recently commented on the stock. ValuEngine lowered shares of EQT Midstream Partners from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Zacks Investment Research lowered shares of EQT Midstream Partners from a “hold” rating to a “sell” rating in a research report on Monday, April 2nd. Barclays lowered their price target on shares of EQT Midstream Partners from $83.00 to $68.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 17th. Deutsche Bank assumed coverage on shares of EQT Midstream Partners in a research report on Friday, April 20th. They issued a “buy” rating and a $78.00 price target on the stock. Finally, Wells Fargo & Co lowered their price target on shares of EQT Midstream Partners from $79.00 to $69.00 and set an “outperform” rating on the stock in a research report on Monday, April 30th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $75.73.

In other news, Director Michael A. Bryson bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 29th. The shares were purchased at an average price of $55.53 per share, for a total transaction of $55,530.00. Following the completion of the transaction, the director now owns 1,175 shares in the company, valued at $65,247.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

About EQT Midstream Partners

EQT Midstream Partners, LP provides natural gas gathering, transmission, and storage services in Pennsylvania, West Virginia, and Ohio. The company owns, operates, acquires, and develops midstream assets in the Appalachian Basin. The company also owned approximately 300 miles of high pressure gathering lines and 1,500 miles of federal energy regulatory commission (FERC) regulated low pressure gathering lines; and approximately 950 miles of FERC regulated interstate pipelines.

Institutional Ownership by Quarter for EQT Midstream Partners (NYSE:EQM)

Receive News & Ratings for EQT Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQT Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply