Mariner Investment Group LLC raised its position in shares of EQT Midstream Partners, LP (NYSE:EQM) by 12.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 182,190 shares of the pipeline company’s stock after buying an additional 20,400 shares during the period. EQT Midstream Partners, accounts for 7.4% of Mariner Investment Group LLC’s holdings, making the stock its 4th largest position. Mariner Investment Group LLC owned about 0.23% of EQT Midstream Partners, worth $13,597,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of the stock. Linscomb & Williams Inc. purchased a new position in shares of EQT Midstream Partners, during the first quarter worth $317,000. Virtu Financial LLC boosted its position in shares of EQT Midstream Partners, by 33.7% in the first quarter. Virtu Financial LLC now owns 10,762 shares of the pipeline company’s stock worth $828,000 after buying an additional 2,714 shares in the last quarter. Hamlin Capital Management LLC boosted its position in shares of EQT Midstream Partners, by 12.8% in the first quarter. Hamlin Capital Management LLC now owns 881,587 shares of the pipeline company’s stock worth $67,794,000 after buying an additional 100,180 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of EQT Midstream Partners, during the first quarter worth $392,000. Finally, Janney Montgomery Scott LLC boosted its position in shares of EQT Midstream Partners, by 86.0% in the first quarter. Janney Montgomery Scott LLC now owns 12,934 shares of the pipeline company’s stock worth $995,000 after buying an additional 5,979 shares in the last quarter. Hedge funds and other institutional investors own 76.45% of the company’s stock.
Shares of EQT Midstream Partners, LP (NYSE EQM) opened at 73.25 on Friday. The stock has a 50 day moving average price of $75.67 and a 200-day moving average price of $76.26. The company has a market capitalization of $5.90 billion, a price-to-earnings ratio of 14.12 and a beta of 0.89. 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 issued its quarterly earnings results on Thursday, July 27th. The pipeline company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.31 by $0.04. EQT Midstream Partners, had a return on equity of 25.61% and a net margin of 66.99%. The business had revenue of $199 million during the quarter, compared to analysts’ expectations of $195 million. During the same quarter in the previous year, the company posted $1.27 earnings per share. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. Analysts expect that EQT Midstream Partners, LP will post $5.50 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Friday, August 4th were issued a dividend of $0.935 per share. This is an increase from EQT Midstream Partners,’s previous quarterly dividend of $0.89. This represents a $3.74 annualized dividend and a yield of 5.11%. The ex-dividend date of this dividend was Wednesday, August 2nd. EQT Midstream Partners,’s dividend payout ratio (DPR) is presently 72.34%.
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EQM has been the topic of a number of research reports. Scotiabank reissued a “hold” rating and set a $94.00 price objective on shares of EQT Midstream Partners, in a report on Friday, April 21st. ValuEngine cut EQT Midstream Partners, from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. TheStreet cut EQT Midstream Partners, from a “b” rating to a “c+” rating in a research note on Thursday, June 15th. Stifel Nicolaus reaffirmed a “hold” rating on shares of EQT Midstream Partners, in a research note on Friday, June 23rd. Finally, BidaskClub raised EQT Midstream Partners, from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The company currently has an average 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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