Investors Buy EQT Midstream Partners LP (EQM) on Weakness
Investors bought shares of EQT Midstream Partners LP (NYSE:EQM) on weakness during trading on Thursday. $15.91 million flowed into the stock on the tick-up and $7.14 million flowed out of the stock on the tick-down, for a money net flow of $8.77 million into the stock. Of all equities tracked, EQT Midstream Partners had the 27th highest net in-flow for the day. EQT Midstream Partners traded down ($1.16) for the day and closed at $77.00
Separately, Zacks Investment Research downgraded shares of EQT Midstream Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, July 19th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $90.68.
The stock has a 50 day moving average of $77.30 and a 200-day moving average of $73.99. The stock has a market capitalization of $6.20 billion and a PE ratio of 15.23.
EQT Midstream Partners (NYSE:EQM) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.15 by $0.12. The firm had revenue of $172 million for the quarter, compared to analysts’ expectations of $172.47 million. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.12 EPS. Equities research analysts expect that EQT Midstream Partners LP will post $5.06 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 12th. Shareholders of record on Friday, August 5th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 4.05%. This is a positive change from EQT Midstream Partners’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Wednesday, August 3rd.
Other institutional investors recently modified their holdings of the company. Kayne Anderson Capital Advisors LP increased its position in shares of EQT Midstream Partners by 19.8% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 3,079,080 shares of the company’s stock valued at $232,333,000 after buying an additional 509,272 shares during the last quarter. Chickasaw Capital Management LLC increased its position in shares of EQT Midstream Partners by 8.5% in the fourth quarter. Chickasaw Capital Management LLC now owns 1,332,730 shares of the company’s stock valued at $100,568,000 after buying an additional 104,485 shares during the last quarter. Jennison Associates LLC increased its position in shares of 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. Advantus Capital Management Inc bought a new position in shares of EQT Midstream Partners during the fourth quarter valued at $2,332,000. Finally, Fort Washington Investment Advisors Inc. OH increased its position in shares of 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.
EQT Midstream Partners, LP (EQM) owns, operates, acquires and develops midstream assets in the Appalachian Basin. The Company operates through two segments: Transmission and storage, which includes its Federal Energy Regulatory Commission (FERC)-regulated interstate pipeline and storage business, and Gathering, which includes high pressure gathering lines and the FERC-regulated low pressure gathering system.
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