Oppenheimer Asset Management Inc. decreased its holdings in shares of EQM Midstream Partners LP (NYSE:EQM) by 79.2% in the 4th quarter, Holdings Channel reports. The firm owned 2,478 shares of the pipeline company’s stock after selling 9,449 shares during the period. Oppenheimer Asset Management Inc.’s holdings in EQM Midstream Partners were worth $107,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in EQM. Conning Inc. increased its position in EQM Midstream Partners by 25.2% during the third quarter. Conning Inc. now owns 66,123 shares of the pipeline company’s stock worth $3,490,000 after acquiring an additional 13,290 shares during the period. Highland Capital Management LP increased its position in EQM Midstream Partners by 35.2% during the third quarter. Highland Capital Management LP now owns 33,786 shares of the pipeline company’s stock worth $1,783,000 after acquiring an additional 8,800 shares during the period. Brookfield Asset Management Inc. increased its position in EQM Midstream Partners by 532.4% during the third quarter. Brookfield Asset Management Inc. now owns 2,097,579 shares of the pipeline company’s stock worth $110,710,000 after acquiring an additional 1,765,910 shares during the period. Virtus ETF Advisers LLC bought a new position in EQM Midstream Partners during the third quarter worth about $78,086,000. Finally, Russell Investments Group Ltd. bought a new position in EQM Midstream Partners during the third quarter worth about $1,341,000. Institutional investors and hedge funds own 70.95% of the company’s stock.
A number of research firms recently commented on EQM. Citigroup raised shares of EQM Midstream Partners from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $82.00 to $58.00 in a research report on Thursday, November 29th. Morgan Stanley lowered their price target on shares of EQM Midstream Partners from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Wednesday, November 14th. Wolfe Research raised shares of EQM Midstream Partners from a “peer perform” rating to an “outperform” rating and set a $66.00 target price on the stock in a report on Tuesday, November 20th. Stifel Nicolaus lowered shares of EQM Midstream Partners from a “buy” rating to a “hold” rating and decreased their target price for the company from $56.00 to $51.00 in a report on Monday, December 3rd. Finally, Goldman Sachs Group lowered shares of EQM Midstream Partners from a “buy” rating to a “neutral” rating and set a $49.00 target price on the stock. in a report on Sunday, December 16th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $58.06.
EQM Midstream Partners (NYSE:EQM) last posted its earnings results on Thursday, February 14th. The pipeline company reported ($0.89) EPS for the quarter, missing the consensus estimate of $1.30 by ($2.19). EQM Midstream Partners had a return on equity of 19.63% and a net margin of 36.10%. The business had revenue of $384.80 million for the quarter, compared to analyst estimates of $380.81 million. During the same quarter in the prior year, the business earned $1.28 earnings per share. The firm’s quarterly revenue was up 31.6% on a year-over-year basis. Equities research analysts forecast that EQM Midstream Partners LP will post 4 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 13th. Stockholders of record on Friday, February 1st were given a $1.13 dividend. The ex-dividend date of this dividend was Thursday, January 31st. This represents a $4.52 dividend on an annualized basis and a dividend yield of 10.41%. This is an increase from EQM Midstream Partners’s previous quarterly dividend of $1.12. EQM Midstream Partners’s payout ratio is 89.15%.
About EQM Midstream Partners
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.
Further Reading: How Short Selling Works
Want to see what other hedge funds are holding EQM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EQM Midstream Partners LP (NYSE:EQM).
Receive News & Ratings for EQM Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQM Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.