Brokerages Expect EQT Midstream Partners (EQM) Will Announce Earnings of $1.44 Per Share

Wall Street analysts expect that EQT Midstream Partners (NYSE:EQM) will report earnings of $1.44 per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for EQT Midstream Partners’ earnings, with the highest EPS estimate coming in at $1.98 and the lowest estimate coming in at $1.21. EQT Midstream Partners posted earnings of $1.36 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.9%. The firm is expected to announce its next earnings report before the market opens on Thursday, April 26th.

On average, analysts expect that EQT Midstream Partners will report full-year earnings of $5.87 per share for the current year, with EPS estimates ranging from $4.75 to $7.97. For the next financial year, analysts forecast that the firm will post earnings of $7.40 per share, with EPS estimates ranging from $5.01 to $13.53. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover EQT Midstream Partners.

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EQT Midstream Partners (NYSE:EQM) last announced its quarterly earnings data on Thursday, February 15th. The pipeline company reported $1.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.55 by ($0.27). EQT Midstream Partners had a net margin of 63.33% and a return on equity of 25.24%. The firm had revenue of $224.51 million for the quarter, compared to analyst estimates of $226.22 million. During the same quarter in the previous year, the company earned $1.31 EPS. The company’s quarterly revenue was up 15.1% compared to the same quarter last year.



EQM has been the topic of several research reports. Bank of America initiated coverage on EQT Midstream Partners in a research note on Tuesday, January 9th. They set a “buy” rating and a $89.00 price objective on the stock. Wolfe Research cut EQT Midstream Partners from an “outperform” rating to a “peer perform” rating and cut their price objective for the company from $85.00 to $76.00 in a research note on Wednesday, February 14th. Zacks Investment Research cut EQT Midstream Partners from a “hold” rating to a “sell” rating in a research note on Thursday, January 18th. Royal Bank of Canada restated a “sector perform” rating and set a $84.00 price objective (up previously from $74.00) on shares of EQT Midstream Partners in a research note on Monday, February 12th. Finally, Seaport Global Securities cut EQT Midstream Partners from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 20th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $78.40.

Shares of NYSE EQM opened at $59.60 on Thursday. EQT Midstream Partners has a 52-week low of $55.40 and a 52-week high of $79.53. The company has a market cap of $4,788.97, a price-to-earnings ratio of 11.48, a PEG ratio of 0.84 and a beta of 0.94. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.69 and a current ratio of 0.69.

Several large investors have recently bought and sold shares of EQM. Center Coast Capital Advisors LP bought a new position in shares of EQT Midstream Partners during the fourth quarter valued at approximately $57,976,000. Kayne Anderson Capital Advisors LP grew its holdings in shares of EQT Midstream Partners by 6.6% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 2,671,595 shares of the pipeline company’s stock valued at $195,277,000 after purchasing an additional 164,303 shares during the last quarter. Global X Management Co. LLC grew its holdings in shares of EQT Midstream Partners by 33.7% during the fourth quarter. Global X Management Co. LLC now owns 558,716 shares of the pipeline company’s stock valued at $40,842,000 after purchasing an additional 140,824 shares during the last quarter. Anchor Bolt Capital LP bought a new position in shares of EQT Midstream Partners during the fourth quarter valued at approximately $9,728,000. Finally, Cushing Asset Management LP grew its holdings in shares of EQT Midstream Partners by 15.8% during the fourth quarter. Cushing Asset Management LP now owns 966,662 shares of the pipeline company’s stock valued at $70,663,000 after purchasing an additional 131,809 shares during the last quarter. 71.35% of the stock is owned by institutional investors.

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About EQT Midstream Partners

EQT Midstream Partners, LP provides natural gas gathering, transmission, and storage services in Pennsylvania, West Virginia, and Ohio. The company owns, operates, acquires, and develops midstream assets in the Appalachian Basin. The company also owned approximately 300 miles of high pressure gathering lines and 1,500 miles of federal energy regulatory commission (FERC) regulated low pressure gathering lines; and approximately 950 miles of FERC regulated interstate pipelines.

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