EQT Midstream Partners, LP (NYSE:EQM) Upgraded to “B-” at TheStreet

TheStreet upgraded shares of EQT Midstream Partners, LP (NYSE:EQM) from a c+ rating to a b- rating in a research note issued to investors on Wednesday morning.

A number of other analysts also recently weighed in on EQM. Scotiabank set a $94.00 price target on EQT Midstream Partners, and gave the company a hold rating in a research note on Saturday. BidaskClub downgraded EQT Midstream Partners, from a hold rating to a sell rating in a research note on Wednesday, July 12th. Morgan Stanley lifted their price target on EQT Midstream Partners, from $86.00 to $87.00 and gave the company an overweight rating in a research note on Friday, July 14th. Stifel Nicolaus restated a hold rating and issued a $79.00 price target on shares of EQT Midstream Partners, in a research note on Friday. Finally, ValuEngine downgraded EQT Midstream Partners, from a buy rating to a hold rating in a research note on Friday, June 2nd. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $89.50.

Shares of EQT Midstream Partners, (NYSE EQM) traded up 0.34% on Wednesday, hitting $76.55. The stock had a trading volume of 316,329 shares. The firm’s 50-day moving average is $73.89 and its 200-day moving average is $76.44. The company has a market cap of $6.17 billion, a price-to-earnings ratio of 14.77 and a beta of 0.89. EQT Midstream Partners, has a one year low of $69.20 and a one year high of $82.99.

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

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Several institutional investors have recently added to or reduced their stakes in the company. Covenant Asset Management LLC boosted its position in EQT Midstream Partners, by 5.9% in the second quarter. Covenant Asset Management LLC now owns 3,970 shares of the pipeline company’s stock worth $296,000 after buying an additional 220 shares during the period. Cim LLC boosted its position in EQT Midstream Partners, by 4.6% in the first quarter. Cim LLC now owns 6,315 shares of the pipeline company’s stock worth $486,000 after buying an additional 280 shares during the period. Country Club Trust Company n.a. boosted its position in EQT Midstream Partners, by 5.5% in the first quarter. Country Club Trust Company n.a. now owns 6,918 shares of the pipeline company’s stock worth $532,000 after buying an additional 360 shares during the period. Uniplan Investment Counsel Inc. boosted its position in EQT Midstream Partners, by 0.8% in the first quarter. Uniplan Investment Counsel Inc. now owns 62,405 shares of the pipeline company’s stock worth $4,797,000 after buying an additional 495 shares during the period. Finally, Round Table Services LLC boosted its position in EQT Midstream Partners, by 23.6% in the second quarter. Round Table Services LLC now owns 3,925 shares of the pipeline company’s stock worth $293,000 after buying an additional 750 shares during the period. 74.90% of the stock is owned by institutional investors.

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.