EQT Midstream Partners LP (NYSE:EQM) – Equities researchers at Seaport Global Securities lifted their FY2017 EPS estimates for EQT Midstream Partners in a research report issued on Monday, Zacks Investment Research reports. Seaport Global Securities analyst B. Colson now forecasts that the pipeline company will post earnings of $5.39 per share for the year, up from their prior forecast of $5.15. Seaport Global Securities has a “Buy” rating and a $96.00 price target on the stock. Seaport Global Securities also issued estimates for EQT Midstream Partners’ Q4 2017 earnings at $1.48 EPS.
A number of other brokerages have also recently weighed in on EQM. Zacks Investment Research cut shares of EQT Midstream Partners from a “hold” rating to a “strong sell” rating in a research note on Monday, October 16th. Mitsubishi UFJ Financial Group reaffirmed an “overweight” rating on shares of EQT Midstream Partners in a research report on Thursday, October 26th. Morgan Stanley dropped their target price on shares of EQT Midstream Partners from $86.00 to $83.00 and set an “overweight” rating on the stock in a research report on Friday, November 17th. BidaskClub raised shares of EQT Midstream Partners from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Finally, US Capital Advisors lowered shares of EQT Midstream Partners from a “buy” rating to a “buy” rating in a research report on Friday, November 17th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $90.83.
EQT Midstream Partners (NYSE:EQM) last released its earnings results on Thursday, October 26th. The pipeline company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.02. The business had revenue of $207.20 million for the quarter, compared to the consensus estimate of $205.29 million. EQT Midstream Partners had a net margin of 65.99% and a return on equity of 25.85%. The firm’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same period last year, the firm posted $1.23 earnings per share.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Friday, November 3rd were issued a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 5.81%. The ex-dividend date was Thursday, November 2nd. This is a positive change from EQT Midstream Partners’s previous quarterly dividend of $0.94. EQT Midstream Partners’s payout ratio is 75.10%.
A number of institutional investors have recently made changes to their positions in EQM. Alliancebernstein L.P. increased its holdings in EQT Midstream Partners by 40.6% in the 1st quarter. Alliancebernstein L.P. now owns 13,553 shares of the pipeline company’s stock valued at $1,042,000 after buying an additional 3,913 shares during the period. Renaissance Technologies LLC bought a new stake in EQT Midstream Partners in the 1st quarter valued at $7,040,000. Creative Planning increased its holdings in EQT Midstream Partners by 22.6% in the 2nd quarter. Creative Planning now owns 7,210 shares of the pipeline company’s stock valued at $538,000 after buying an additional 1,330 shares during the period. Goodwin Daniel L bought a new stake in EQT Midstream Partners in the 2nd quarter valued at $918,000. Finally, ING Groep NV increased its holdings in EQT Midstream Partners by 248.4% in the 2nd 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 during the period. 73.74% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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