EQT Midstream Partners (EQM) Research Coverage Started at Bank of America

Bank of America started coverage on shares of EQT Midstream Partners (NYSE:EQM) in a report released on Tuesday. The firm issued a buy rating and a $89.00 price objective on the pipeline company’s stock.

A number of other equities research analysts have also commented on EQM. Royal Bank of Canada restated a buy rating and set a $96.00 price objective on shares of EQT Midstream Partners in a report on Tuesday, October 10th. Seaport Global Securities initiated coverage on shares of EQT Midstream Partners in a report on Tuesday, October 10th. They set a buy rating and a $96.00 price objective on the stock. Zacks Investment Research lowered shares of EQT Midstream Partners from a hold rating to a strong sell rating in a report on Monday, October 16th. Mitsubishi UFJ Financial Group reaffirmed an overweight rating on shares of EQT Midstream Partners in a research report on Thursday, October 26th. Finally, Morgan Stanley decreased their target price on shares of EQT Midstream Partners from $86.00 to $83.00 and set an overweight rating for the company in a research report on Friday, November 17th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $88.13.

Shares of EQT Midstream Partners (NYSE:EQM) traded down $0.45 during trading hours on Tuesday, hitting $77.03. 338,101 shares of the company were exchanged, compared to its average volume of 302,020. EQT Midstream Partners has a fifty-two week low of $64.42 and a fifty-two week high of $82.99. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $6,243.48, a price-to-earnings ratio of 14.76, a price-to-earnings-growth ratio of 1.07 and a beta of 0.89.

EQT Midstream Partners (NYSE:EQM) last issued its quarterly earnings data on Thursday, October 26th. The pipeline company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.02. EQT Midstream Partners had a net margin of 65.99% and a return on equity of 25.85%. The business had revenue of $207.20 million for the quarter, compared to analyst estimates of $205.29 million. During the same period last year, the business posted $1.23 earnings per share. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. equities analysts predict that EQT Midstream Partners will post 5.34 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Alps Advisors Inc. grew its position in EQT Midstream Partners by 11.2% in the third quarter. Alps Advisors Inc. now owns 4,761,137 shares of the pipeline company’s stock valued at $356,942,000 after purchasing an additional 480,995 shares in the last quarter. Kayne Anderson Capital Advisors LP grew its position in EQT Midstream Partners by 0.5% in the third quarter. Kayne Anderson Capital Advisors LP now owns 2,507,292 shares of the pipeline company’s stock valued at $187,955,000 after purchasing an additional 12,142 shares in the last quarter. Harvest Fund Advisors LLC grew its position in EQT Midstream Partners by 1.4% in the third quarter. Harvest Fund Advisors LLC now owns 2,451,342 shares of the pipeline company’s stock valued at $183,777,000 after purchasing an additional 32,822 shares in the last quarter. Chickasaw Capital Management LLC grew its position in EQT Midstream Partners by 4.0% in the fourth quarter. Chickasaw Capital Management LLC now owns 1,296,011 shares of the pipeline company’s stock valued at $94,738,000 after purchasing an additional 50,292 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in EQT Midstream Partners by 20.8% in the third quarter. JPMorgan Chase & Co. now owns 1,271,917 shares of the pipeline company’s stock valued at $93,817,000 after purchasing an additional 219,261 shares in the last quarter. 73.71% of the stock is owned by institutional investors and hedge funds.

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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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