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. “
Several other brokerages have also issued reports on EQM. Credit Suisse Group AG reissued a neutral rating on shares of EQT Midstream Partners in a report on Tuesday, August 16th. Morgan Stanley reissued a hold rating and set a $83.00 price objective on shares of EQT Midstream Partners in a report on Wednesday, September 21st. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $89.85.
Shares of EQT Midstream Partners (NYSE:EQM) opened at 78.15 on Tuesday. The stock has a 50 day moving average price of $78.02 and a 200 day moving average price of $76.33. EQT Midstream Partners has a 1-year low of $56.52 and a 1-year high of $80.63. The stock has a market capitalization of $6.30 billion, a price-to-earnings ratio of 15.46 and a beta of 0.94.
EQT Midstream Partners (NYSE:EQM) last issued its quarterly earnings data on Thursday, July 28th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.12. The business had revenue of $172 million for the quarter, compared to analysts’ expectations of $172.47 million. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.12 earnings per share. Equities research analysts anticipate that EQT Midstream Partners will post $5.06 EPS for the current year.
Several large investors have recently bought and sold shares of EQM. Conning Inc. increased its stake in EQT Midstream Partners by 0.3% in the second quarter. Conning Inc. now owns 38,380 shares of the company’s stock valued at $3,082,000 after buying an additional 112 shares during the last quarter. Energy Income Partners LLC increased its stake in EQT Midstream Partners by 4.3% in the first quarter. Energy Income Partners LLC now owns 2,004,518 shares of the company’s stock valued at $149,196,000 after buying an additional 82,235 shares during the last quarter. Glenmede Trust Co. NA increased its stake in EQT Midstream Partners by 83.4% in the second quarter. Glenmede Trust Co. NA now owns 39,405 shares of the company’s stock valued at $3,163,000 after buying an additional 17,915 shares during the last quarter. Americafirst Capital Management LLC bought a new stake in EQT Midstream Partners during the second quarter valued at approximately $130,000. Finally, State of New Jersey Common Pension Fund D increased its stake in EQT Midstream Partners by 74.3% in the second quarter. State of New Jersey Common Pension Fund D now owns 37,300 shares of the company’s stock valued at $2,995,000 after buying an additional 15,900 shares during the last quarter.
About EQT Midstream Partners
EQT Midstream Partners, LP (EQM) owns, operates, acquires and develops midstream assets in the Appalachian Basin. The Company operates through two segments: Transmission and storage, which includes its Federal Energy Regulatory Commission (FERC)-regulated interstate pipeline and storage business, and Gathering, which includes high pressure gathering lines and the FERC-regulated low pressure gathering system.
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