Stifel Nicolaus Lowers EQT Midstream Partners (EQM) Price Target to $89.00

EQT Midstream Partners (NYSE:EQM) had its price target cut by equities researchers at Stifel Nicolaus from $90.00 to $89.00 in a research note issued on Friday, Marketbeat reports. The brokerage currently has a “buy” rating on the pipeline company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 32.94% from the company’s previous close.

A number of other equities analysts also recently issued reports on EQM. Wolfe Research reissued a “market perform” rating on shares of EQT Midstream Partners in a report on Friday. Royal Bank of Canada reissued a “sector perform” rating and issued a $84.00 price objective (up previously from $74.00) on shares of EQT Midstream Partners in a report on Monday, February 12th. ValuEngine downgraded shares of EQT Midstream Partners from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Credit Suisse Group assumed coverage on shares of EQT Midstream Partners in a report on Friday, January 5th. They issued a “neutral” rating and a $71.00 price objective on the stock. Finally, Morgan Stanley dropped their price objective on shares of EQT Midstream Partners from $86.00 to $83.00 and set an “overweight” rating on the stock in a report on Friday, November 17th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $85.25.

Shares of EQT Midstream Partners (NYSE:EQM) opened at $66.95 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market cap of $5,490.00, a PE ratio of 12.90, a PEG ratio of 0.94 and a beta of 0.77. EQT Midstream Partners has a 1-year low of $64.42 and a 1-year high of $82.99.

EQT Midstream Partners (NYSE:EQM) last posted its quarterly earnings data on Thursday, February 15th. The pipeline company reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.27). The business had revenue of $224.51 million during the quarter, compared to analysts’ expectations of $226.22 million. EQT Midstream Partners had a return on equity of 25.47% and a net margin of 63.33%. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.31 EPS. sell-side analysts forecast that EQT Midstream Partners will post 5.98 earnings per share for the current year.

Large investors have recently modified their holdings of the business. Harel Insurance Investments & Financial Services Ltd. purchased a new position in EQT Midstream Partners during the fourth quarter valued at approximately $115,000. Captrust Financial Advisors purchased a new position in EQT Midstream Partners during the fourth quarter valued at approximately $122,000. Saratoga Research & Investment Management purchased a new position in EQT Midstream Partners during the third quarter valued at approximately $186,000. Stuart Chaussee & Associates Inc. purchased a new position in EQT Midstream Partners during the fourth quarter valued at approximately $181,000. Finally, Advisory Services Network LLC raised its position in shares of EQT Midstream Partners by 95.9% during the fourth quarter. Advisory Services Network LLC now owns 2,600 shares of the pipeline company’s stock valued at $190,000 after buying an additional 1,273 shares during the last quarter. 74.47% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for EQT Midstream Partners (NYSE:EQM)

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