Brokerages Set EQT Midstream Partners, LP (EQM) PT at $94.00

EQT Midstream Partners, LP (NYSE:EQM) has been assigned a consensus recommendation of “Hold” from the eleven analysts that are covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $91.00.

A number of brokerages recently weighed in on EQM. Scotiabank reiterated a “hold” rating and issued a $94.00 price target on shares of EQT Midstream Partners, in a research report on Friday, April 21st. BidaskClub upgraded shares of EQT Midstream Partners, from a “sell” rating to a “hold” rating in a research report on Wednesday. Stifel Nicolaus reiterated a “hold” rating and issued a $79.00 price target on shares of EQT Midstream Partners, in a research report on Friday. Morgan Stanley increased their price target on shares of EQT Midstream Partners, from $86.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, July 14th. Finally, ValuEngine downgraded shares of EQT Midstream Partners, from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd.

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EQT Midstream Partners, (EQM) traded up 0.34% during midday trading on Tuesday, hitting $76.55. 316,329 shares of the stock were exchanged. EQT Midstream Partners, has a one year low of $69.20 and a one year high of $82.99. The firm has a market capitalization of $6.17 billion, a price-to-earnings ratio of 14.77 and a beta of 0.89. The company has a 50 day moving average price of $73.89 and a 200 day moving average price of $76.44.

EQT Midstream Partners, (NYSE:EQM) last announced its quarterly earnings results on Thursday, April 27th. The pipeline company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by $0.02. The firm had revenue of $203.40 million during the quarter, compared to analyst estimates of $204.73 million. EQT Midstream Partners, had a net margin of 67.48% and a return on equity of 25.49%. The business’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.39 earnings per share. Equities analysts anticipate that EQT Midstream Partners, will post $5.60 EPS for the current year.

A number of hedge funds have recently made changes to their positions in the company. Homrich & Berg bought a new stake in shares of EQT Midstream Partners, during the first quarter valued at approximately $313,000. Clinton Group Inc. bought a new stake in shares of EQT Midstream Partners, during the first quarter valued at approximately $3,054,000. JPMorgan Chase & Co. increased its stake in shares of EQT Midstream Partners, by 11.2% in the first quarter. JPMorgan Chase & Co. now owns 1,069,702 shares of the pipeline company’s stock valued at $82,261,000 after buying an additional 107,382 shares during the period. UBS Group AG increased its stake in shares of EQT Midstream Partners, by 5.9% in the first quarter. UBS Group AG now owns 1,446,191 shares of the pipeline company’s stock valued at $111,212,000 after buying an additional 80,072 shares during the period. Finally, Mariner Investment Group LLC increased its stake in shares of EQT Midstream Partners, by 6.9% in the first quarter. Mariner Investment Group LLC now owns 161,790 shares of the pipeline company’s stock valued at $12,442,000 after buying an additional 10,400 shares during the period. Hedge funds and other institutional investors own 74.90% of the company’s stock.

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.