EQT Midstream Partners (NYSE:EQM) Rating Lowered to Sell at Zacks Investment Research

EQT Midstream Partners (NYSE:EQM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday, January 18th.

According to Zacks, “EQT Midstream Partners, LP is formed to own, operate, acquire and develop midstream assets in the Appalachian Basin. The Company provides substantially all of its natural gas transmission, storage and gathering services under contracts with fixed reservation and/or usage fees. It operates primarily in the Marcellus Shale area of southern Pennsylvania and northern West Virginia. EQT Midstream Partners, LP is based in Pittsburgh, Pennsylvania. “

Other equities research analysts have also recently issued reports about the company. Seaport Global Securities initiated coverage on EQT Midstream Partners in a report on Tuesday, October 10th. They issued a “buy” rating and a $96.00 target price for the company. Royal Bank of Canada reiterated a “buy” rating and issued a $96.00 target price on shares of EQT Midstream Partners in a report on Tuesday, October 10th. US Capital Advisors cut EQT Midstream Partners from a “buy” rating to a “buy” rating in a report on Friday, November 17th. Stifel Nicolaus set a $90.00 target price on EQT Midstream Partners and gave the stock a “buy” rating in a report on Wednesday, January 17th. Finally, Bank of America started coverage on EQT Midstream Partners in a research note on Tuesday, January 9th. They set a “buy” rating and a $89.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $88.43.

Shares of EQT Midstream Partners (NYSE EQM) traded down $2.76 during mid-day trading on Thursday, hitting $67.07. The company’s stock had a trading volume of 742,630 shares, compared to its average volume of 340,658. EQT Midstream Partners has a twelve month low of $64.42 and a twelve month high of $82.99. The stock has a market cap of $5,500.00, a PE ratio of 12.82, a price-to-earnings-growth ratio of 0.93 and a beta of 0.77. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.52.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Linscomb & Williams Inc. lifted its stake in shares of EQT Midstream Partners by 0.3% during the 2nd quarter. Linscomb & Williams Inc. now owns 4,134 shares of the pipeline company’s stock worth $309,000 after purchasing an additional 12 shares during the last quarter. Veritable L.P. increased its position in EQT Midstream Partners by 5.0% during the 2nd quarter. Veritable L.P. now owns 5,680 shares of the pipeline company’s stock valued at $424,000 after buying an additional 269 shares in the last quarter. Dearborn Partners LLC increased its position in EQT Midstream Partners by 26.3% during the 4th quarter. Dearborn Partners LLC now owns 3,456 shares of the pipeline company’s stock valued at $253,000 after buying an additional 719 shares in the last quarter. Alliancebernstein L.P. increased its position in EQT Midstream Partners by 5.9% during the 2nd quarter. Alliancebernstein L.P. now owns 14,356 shares of the pipeline company’s stock valued at $1,071,000 after buying an additional 803 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in EQT Midstream Partners by 14.3% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 6,721 shares of the pipeline company’s stock valued at $504,000 after buying an additional 842 shares in the last quarter. Hedge funds and other institutional investors own 73.80% of the company’s stock.

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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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