Zacks Investment Research upgraded shares of EQT Midstream Partners LP (NYSE:EQM) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday morning. They currently have $86.00 target price on the stock.

According to Zacks, “EQT Midstream Partners, LP is formed to own, operate, acquire and develop midstream assets in the Appalachian Basin. The Company provides substantially all of its natural gas transmission, storage and gathering services under contracts with fixed reservation and/or usage fees. It operates primarily in the Marcellus Shale area of southern Pennsylvania and northern West Virginia. EQT Midstream Partners, LP is based in Pittsburgh, Pennsylvania. “

Analyst Recommendations for EQT Midstream Partners (NYSE:EQM)

Separately, Credit Suisse Group AG reissued a neutral rating on shares of EQT Midstream Partners in a report on Tuesday, August 16th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $89.85.

Shares of EQT Midstream Partners (NYSE:EQM) opened at 74.68 on Tuesday. EQT Midstream Partners has a 52 week low of $56.52 and a 52 week high of $80.63. The firm has a 50 day moving average price of $77.94 and a 200 day moving average price of $76.15. The company has a market capitalization of $6.02 billion, a price-to-earnings ratio of 14.77 and a beta of 0.94.

EQT Midstream Partners (NYSE:EQM) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.27 earnings per share 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 the consensus estimate of $172.47 million. EQT Midstream Partners’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.12 earnings per share. Equities analysts forecast that EQT Midstream Partners will post $5.07 EPS for the current year.

A number of large investors have recently bought and sold shares of EQM. Tortoise Capital Advisors L.L.C. boosted its stake in EQT Midstream Partners by 18.6% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 9,619,868 shares of the company’s stock worth $772,475,000 after buying an additional 1,506,668 shares in the last quarter. Cohen & Steers Inc. raised its position in shares of EQT Midstream Partners by 421.9% in the second quarter. Cohen & Steers Inc. now owns 1,599,617 shares of the company’s stock worth $13,693,000 after buying an additional 1,293,141 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of EQT Midstream Partners during the second quarter worth $50,861,000. Hamlin Capital Management LLC purchased a new position in shares of EQT Midstream Partners during the second quarter worth $42,253,000. Finally, Neuberger Berman Group LLC raised its position in shares of EQT Midstream Partners by 9.1% in the second quarter. Neuberger Berman Group LLC now owns 2,597,069 shares of the company’s stock worth $208,545,000 after buying an additional 216,842 shares during the last quarter.

About EQT Midstream Partners

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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