EQT Midstream Partners, LP (EQM) Downgraded by Zacks Investment Research to “Strong Sell”

Zacks Investment Research downgraded shares of EQT Midstream Partners, LP (NYSE:EQM) from a hold rating to a strong sell rating in a report issued on Monday morning.

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 research firms also recently weighed in on EQM. BidaskClub raised shares of EQT Midstream Partners, from a sell rating to a hold rating in a report on Wednesday, July 19th. TheStreet raised shares of EQT Midstream Partners, from a c+ rating to a b- rating in a report on Wednesday, July 19th. Scotiabank set a $94.00 price objective on shares of EQT Midstream Partners, and gave the stock a hold rating in a report on Saturday, July 22nd. Stifel Nicolaus reaffirmed a hold rating and issued a $79.00 price objective on shares of EQT Midstream Partners, in a report on Friday, July 21st. Finally, Royal Bank Of Canada reaffirmed a buy rating and issued a $96.00 price objective on shares of EQT Midstream Partners, in a report on Tuesday, October 10th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. EQT Midstream Partners, currently has a consensus rating of Hold and a consensus target price of $91.50.

Shares of EQT Midstream Partners, (EQM) traded down 0.68% during trading on Monday, hitting $74.16. 12,725 shares of the stock were exchanged. The stock has a market cap of $5.98 billion, a P/E ratio of 14.29 and a beta of 0.88. The stock has a 50-day moving average of $75.15 and a 200 day moving average of $75.10. EQT Midstream Partners, has a 12-month low of $69.20 and a 12-month high of $82.99.

EQT Midstream Partners, (NYSE:EQM) last posted its quarterly earnings data on Thursday, July 27th. The pipeline company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.04). The company had revenue of $199.00 million during the quarter, compared to analyst estimates of $195.00 million. EQT Midstream Partners, had a return on equity of 25.61% and a net margin of 66.99%. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.27 EPS. Equities analysts predict that EQT Midstream Partners, will post $5.51 earnings per share for the current fiscal year.

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Institutional investors have recently modified their holdings of the business. American Century Companies Inc. raised its position in EQT Midstream Partners, by 16.7% in the second quarter. American Century Companies Inc. now owns 900,098 shares of the pipeline company’s stock worth $67,174,000 after acquiring an additional 129,017 shares in the last quarter. Bank of New York Mellon Corp raised its position in EQT Midstream Partners, by 7.2% in the first quarter. Bank of New York Mellon Corp now owns 24,884 shares of the pipeline company’s stock worth $1,913,000 after acquiring an additional 1,679 shares in the last quarter. Virtu Financial LLC raised its position in EQT Midstream Partners, by 203.4% in the second quarter. Virtu Financial LLC now owns 32,648 shares of the pipeline company’s stock worth $2,437,000 after acquiring an additional 21,886 shares in the last quarter. Global X Management Co. LLC raised its position in EQT Midstream Partners, by 28.8% in the second quarter. Global X Management Co. LLC now owns 364,808 shares of the pipeline company’s stock worth $27,226,000 after acquiring an additional 81,556 shares in the last quarter. Finally, Atlantic Trust Group LLC raised its position in EQT Midstream Partners, by 8.2% in the second quarter. Atlantic Trust Group LLC now owns 49,479 shares of the pipeline company’s stock worth $3,692,000 after acquiring an additional 3,760 shares in the last quarter. Hedge funds and other institutional investors own 73.47% of the company’s stock.

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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