EQT Midstream Partners LP (NYSE:EQM) shares dropped 0.3% during mid-day trading on Friday . The stock traded as low as $77.74 and last traded at $77.92, with a volume of 71,091 shares traded. The stock had previously closed at $78.12.

Separately, Stifel Nicolaus began coverage on EQT Midstream Partners in a research report on Thursday, March 17th. They set a “hold” rating for the company. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $90.68.

The company’s 50 day moving average is $76.10 and its 200 day moving average is $73.18. The stock has a market capitalization of $6.09 billion and a P/E ratio of 15.92.

EQT Midstream Partners (NYSE:EQM) last announced its earnings results on Thursday, April 28th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.20. The company earned $180.60 million during the quarter, compared to analysts’ expectations of $167.42 million. During the same quarter last year, the firm posted $1.18 earnings per share. The firm’s revenue was up 16.7% on a year-over-year basis. Analysts anticipate that EQT Midstream Partners LP will post $4.90 earnings per share for the current year.

A number of hedge funds have bought and sold shares of EQM. Penserra Capital Management LLC acquired a new stake in EQT Midstream Partners during the fourth quarter valued at about $1,775,000. Advantus Capital Management Inc acquired a new stake in EQT Midstream Partners during the fourth quarter valued at about $2,332,000. Fort Washington Investment Advisors Inc. OH raised its stake in EQT Midstream Partners by 16.8% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 77,100 shares of the company’s stock valued at $5,818,000 after buying an additional 11,100 shares during the last quarter. Jennison Associates LLC raised its stake in EQT Midstream Partners by 142.1% in the fourth quarter. Jennison Associates LLC now owns 92,797 shares of the company’s stock valued at $7,002,000 after buying an additional 54,469 shares during the last quarter. Finally, Liberty Mutual Group Asset Management Inc. raised its stake in EQT Midstream Partners by 154.8% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 108,349 shares of the company’s stock valued at $8,176,000 after buying an additional 65,827 shares during the last quarter.

EQT Midstream Partners, LP (the Partnership) owns, operates, acquires and develops midstream assets in the Appalachian Basin. The Partnership provides all of its natural gas transmission, storage and gathering services under contracts with long-term, firm reservation and/or usage fees. The Partnership’s operations are primarily focused in southwestern Pennsylvania and northern West Virginia, a location in the core of the developing natural gas shale play known as the Marcellus Shale.

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