Sei Investments Co. reduced its position in EQT Midstream Partners LP (NYSE:EQM) by 7.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 102,898 shares of the pipeline company’s stock after selling 8,100 shares during the quarter. Sei Investments Co.’s holdings in EQT Midstream Partners were worth $7,522,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the company. Alps Advisors Inc. boosted its holdings in shares of EQT Midstream Partners by 2.3% in the fourth quarter. Alps Advisors Inc. now owns 4,871,408 shares of the pipeline company’s stock valued at $356,100,000 after acquiring an additional 110,271 shares during the period. Kayne Anderson Capital Advisors LP lifted its holdings in shares of EQT Midstream Partners by 0.5% during the third quarter. Kayne Anderson Capital Advisors LP now owns 2,507,292 shares of the pipeline company’s stock worth $187,955,000 after purchasing an additional 12,142 shares during the period. Harvest Fund Advisors LLC lifted its holdings in shares of EQT Midstream Partners by 1.4% during the third quarter. Harvest Fund Advisors LLC now owns 2,451,342 shares of the pipeline company’s stock worth $183,777,000 after purchasing an additional 32,822 shares during the period. Chickasaw Capital Management LLC lifted its holdings in shares of EQT Midstream Partners by 4.0% during the fourth quarter. Chickasaw Capital Management LLC now owns 1,296,011 shares of the pipeline company’s stock worth $94,738,000 after purchasing an additional 50,292 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of EQT Midstream Partners by 20.8% during the third quarter. JPMorgan Chase & Co. now owns 1,271,917 shares of the pipeline company’s stock worth $93,817,000 after purchasing an additional 219,261 shares during the period. 74.89% of the stock is owned by institutional investors and hedge funds.
EQM has been the subject of several recent research reports. Zacks Investment Research raised EQT Midstream Partners from a “sell” rating to a “hold” rating in a report on Monday, February 19th. Morgan Stanley decreased their price target on EQT Midstream Partners from $86.00 to $83.00 and set an “overweight” rating for the company in a report on Friday, November 17th. Bank of America initiated coverage on EQT Midstream Partners in a report on Tuesday, January 9th. They set a “buy” rating and a $89.00 price target for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $84.00 price target (up from $74.00) on shares of EQT Midstream Partners in a report on Monday, February 12th. Finally, ValuEngine downgraded EQT Midstream Partners from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. EQT Midstream Partners has an average rating of “Hold” and an average target price of $84.20.
EQT Midstream Partners (NYSE:EQM) last released 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). 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 25.24% and a net margin of 63.33%. The company’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.31 EPS. equities analysts expect that EQT Midstream Partners LP will post 5.71 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Friday, February 2nd were given a $1.025 dividend. This is a boost from EQT Midstream Partners’s previous quarterly dividend of $0.98. The ex-dividend date was Thursday, February 1st. This represents a $4.10 annualized dividend and a yield of 6.63%. EQT Midstream Partners’s dividend payout ratio is presently 79.00%.
EQT Midstream Partners Company Profile
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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