EQM Midstream Partners LP (EQM) Expected to Post Earnings of $1.11 Per Share

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Brokerages expect that EQM Midstream Partners LP (NYSE:EQM) will report earnings per share of $1.11 for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for EQM Midstream Partners’ earnings, with the highest EPS estimate coming in at $1.40 and the lowest estimate coming in at $0.91. EQM Midstream Partners reported earnings per share of $1.61 during the same quarter last year, which suggests a negative year-over-year growth rate of 31.1%. The company is expected to announce its next quarterly earnings results on Thursday, April 25th.

On average, analysts expect that EQM Midstream Partners will report full-year earnings of $4.23 per share for the current fiscal year, with EPS estimates ranging from $3.68 to $4.70. For the next fiscal year, analysts anticipate that the business will post earnings of $5.12 per share, with EPS estimates ranging from $4.56 to $5.90. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover EQM Midstream Partners.

EQM Midstream Partners (NYSE:EQM) last announced its earnings results on Thursday, February 14th. The pipeline company reported ($0.89) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.30 by ($2.19). EQM Midstream Partners had a net margin of 36.10% and a return on equity of 19.63%. The firm had revenue of $384.80 million during the quarter, compared to analyst estimates of $380.81 million. During the same period in the prior year, the business posted $1.28 EPS. The firm’s quarterly revenue was up 31.6% compared to the same quarter last year.

A number of equities research analysts recently issued reports on the company. Barclays reissued an “equal weight” rating and issued a $48.00 target price (down previously from $59.00) on shares of EQM Midstream Partners in a research report on Friday, December 7th. Stifel Nicolaus lowered EQM Midstream Partners from a “buy” rating to a “hold” rating and lowered their price target for the stock from $56.00 to $51.00 in a research report on Monday, December 3rd. Mitsubishi UFJ Financial Group lowered EQM Midstream Partners from an “overweight” rating to a “neutral” rating in a research report on Thursday, February 14th. JPMorgan Chase & Co. lowered EQM Midstream Partners from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $55.00 to $54.00 in a research report on Wednesday, February 6th. Finally, US Capital Advisors lowered EQM Midstream Partners from an “overweight” rating to a “hold” rating in a research report on Friday, January 4th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $57.81.

EQM Midstream Partners stock traded up $0.86 during midday trading on Friday, reaching $44.09. The stock had a trading volume of 1,523,773 shares, compared to its average volume of 880,905. EQM Midstream Partners has a 1-year low of $38.24 and a 1-year high of $63.73. The firm has a market cap of $5.21 billion, a PE ratio of 8.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.55 and a current ratio of 0.55.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 13th. Stockholders of record on Friday, February 1st were paid a dividend of $1.13 per share. This is an increase from EQM Midstream Partners’s previous quarterly dividend of $1.12. This represents a $4.52 annualized dividend and a dividend yield of 10.25%. The ex-dividend date was Thursday, January 31st. EQM Midstream Partners’s payout ratio is currently 89.15%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Northern Oak Wealth Management Inc. boosted its stake in EQM Midstream Partners by 76.9% in the 4th quarter. Northern Oak Wealth Management Inc. now owns 2,300 shares of the pipeline company’s stock valued at $99,000 after purchasing an additional 1,000 shares during the period. Advisor Group Inc. boosted its stake in EQM Midstream Partners by 297.8% in the 4th quarter. Advisor Group Inc. now owns 3,103 shares of the pipeline company’s stock valued at $135,000 after purchasing an additional 2,323 shares during the period. Bessemer Group Inc. boosted its stake in EQM Midstream Partners by 645.3% in the 4th quarter. Bessemer Group Inc. now owns 3,600 shares of the pipeline company’s stock valued at $156,000 after purchasing an additional 3,117 shares during the period. Penserra Capital Management LLC bought a new stake in EQM Midstream Partners in the 4th quarter valued at $184,000. Finally, Gryphon Financial Partners LLC boosted its stake in EQM Midstream Partners by 100.2% in the 3rd quarter. Gryphon Financial Partners LLC now owns 3,791 shares of the pipeline company’s stock valued at $200,000 after purchasing an additional 1,897 shares during the period. Institutional investors own 67.34% of the company’s stock.

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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Earnings History and Estimates for EQM Midstream Partners (NYSE:EQM)

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