State of New Jersey Common Pension Fund D boosted its stake in EQT Midstream Partners, LP (NYSE:EQM) by 28.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 87,900 shares of the pipeline company’s stock after buying an additional 19,600 shares during the period. State of New Jersey Common Pension Fund D owned 0.11% of EQT Midstream Partners, worth $6,560,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Hamlin Capital Management LLC boosted its position in shares of EQT Midstream Partners, by 26.6% in the second quarter. Hamlin Capital Management LLC now owns 1,116,129 shares of the pipeline company’s stock valued at $83,297,000 after buying an additional 234,542 shares in the last quarter. Eagle Global Advisors LLC boosted its position in shares of EQT Midstream Partners, by 4.3% in the second quarter. Eagle Global Advisors LLC now owns 441,537 shares of the pipeline company’s stock valued at $32,952,000 after buying an additional 18,036 shares in the last quarter. Mariner Investment Group LLC boosted its position in shares of EQT Midstream Partners, by 12.6% in the second quarter. Mariner Investment Group LLC now owns 182,190 shares of the pipeline company’s stock valued at $13,597,000 after buying an additional 20,400 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of EQT Midstream Partners, by 165.0% in the second quarter. Janney Montgomery Scott LLC now owns 34,269 shares of the pipeline company’s stock valued at $2,557,000 after buying an additional 21,335 shares in the last quarter. Finally, ING Groep NV boosted its position in shares of EQT Midstream Partners, by 248.4% in the second quarter. ING Groep NV now owns 695,000 shares of the pipeline company’s stock valued at $51,868,000 after buying an additional 495,500 shares in the last quarter. Hedge funds and other institutional investors own 75.72% of the company’s stock.
Shares of EQT Midstream Partners, LP (EQM) opened at 73.61 on Friday. The company has a market cap of $5.93 billion, a PE ratio of 14.19 and a beta of 0.89. The company has a 50-day moving average of $75.71 and a 200 day moving average of $76.40. EQT Midstream Partners, LP has a 12-month low of $69.20 and a 12-month high of $82.99.
EQT Midstream Partners, (NYSE:EQM) last released its quarterly earnings results on Thursday, July 27th. The pipeline company reported $1.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by $0.04. EQT Midstream Partners, had a net margin of 66.99% and a return on equity of 25.61%. The company had revenue of $199 million for the quarter, compared to analysts’ expectations of $195 million. During the same quarter in the previous year, the company posted $1.27 EPS. The business’s quarterly revenue was up 11.8% on a year-over-year basis. On average, equities research analysts expect that EQT Midstream Partners, LP will post $5.49 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Friday, August 4th will be issued a dividend of $0.935 per share. This represents a $3.74 annualized dividend and a yield of 5.08%. The ex-dividend date of this dividend is Wednesday, August 2nd. This is a positive change from EQT Midstream Partners,’s previous quarterly dividend of $0.89. EQT Midstream Partners,’s dividend payout ratio is presently 72.34%.
Several research analysts have recently issued reports on the stock. BidaskClub cut shares of EQT Midstream Partners, from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. TheStreet upgraded shares of EQT Midstream Partners, from a “c+” rating to a “b-” rating in a report on Wednesday, July 19th. Scotiabank set a $94.00 target price on shares of EQT Midstream Partners, and gave the stock a “hold” rating in a report on Saturday, July 22nd. Stifel Nicolaus restated a “hold” rating and issued a $79.00 target price on shares of EQT Midstream Partners, in a report on Friday, July 21st. Finally, Morgan Stanley raised their target price on shares of EQT Midstream Partners, from $86.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $89.50.
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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