Traders Purchase Large Volume of EQM Midstream Partners Call Options (EQM)

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EQM Midstream Partners LP (NYSE:EQM) was the target of some unusual options trading on Wednesday. Stock investors bought 3,550 call options on the stock. This represents an increase of 1,514% compared to the average volume of 220 call options.

Several analysts have commented on the company. Stifel Nicolaus cut their target price on EQM Midstream Partners from $61.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, October 9th. Credit Suisse Group assumed coverage on EQM Midstream Partners in a research note on Thursday, October 11th. They set a “neutral” rating and a $57.00 target price on the stock. Barclays cut their target price on EQM Midstream Partners from $60.00 to $59.00 and set an “overweight” rating on the stock in a research note on Friday, October 12th. Citigroup upgraded EQM Midstream Partners from a “neutral” rating to a “buy” rating and cut their target price for the company from $82.00 to $58.00 in a research note on Thursday, November 29th. Finally, Morgan Stanley dropped their price target on EQM Midstream Partners from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Wednesday, November 14th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $58.33.

Several hedge funds have recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. boosted its stake in shares of EQM Midstream Partners by 47.4% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 15,016,757 shares of the pipeline company’s stock worth $792,584,000 after buying an additional 4,827,975 shares during the last quarter. Alps Advisors Inc. raised its holdings in EQM Midstream Partners by 50.3% in the 3rd quarter. Alps Advisors Inc. now owns 7,320,737 shares of the pipeline company’s stock worth $386,388,000 after purchasing an additional 2,450,666 shares during the period. OppenheimerFunds Inc. raised its holdings in EQM Midstream Partners by 119.8% in the 3rd quarter. OppenheimerFunds Inc. now owns 5,039,631 shares of the pipeline company’s stock worth $265,991,000 after purchasing an additional 2,746,887 shares during the period. Neuberger Berman Group LLC raised its holdings in EQM Midstream Partners by 19.5% in the 3rd quarter. Neuberger Berman Group LLC now owns 4,886,383 shares of the pipeline company’s stock worth $257,904,000 after purchasing an additional 796,236 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in EQM Midstream Partners by 21.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,116,213 shares of the pipeline company’s stock worth $111,694,000 after purchasing an additional 374,036 shares during the period. Hedge funds and other institutional investors own 68.72% of the company’s stock.

EQM stock opened at $45.76 on Friday. The firm has a market capitalization of $5.59 billion, a PE ratio of 8.82 and a beta of 1.09. EQM Midstream Partners has a 1 year low of $39.32 and a 1 year high of $74.91. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.69.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 13th. Stockholders of record on Friday, February 1st will be paid a $1.13 dividend. This is an increase from EQM Midstream Partners’s previous quarterly dividend of $1.12. This represents a $4.52 dividend on an annualized basis and a dividend yield of 9.88%. The ex-dividend date is Thursday, January 31st. EQM Midstream Partners’s dividend payout ratio (DPR) is 85.93%.

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EQM Midstream Partners Company Profile

EQM 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 owns 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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