EQT Midstream Partners LP (EQM) Downgraded by Zacks Investment Research
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. “
Other equities analysts also recently issued reports about the company. Credit Suisse Group AG restated a neutral rating on shares of EQT Midstream Partners in a research report on Tuesday, August 16th. Morgan Stanley restated a hold rating and issued a $83.00 price objective on shares of EQT Midstream Partners in a research report on Wednesday, September 21st. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $89.85.
Shares of EQT Midstream Partners (NYSE:EQM) opened at 76.19 on Tuesday. The stock has a market capitalization of $6.14 billion, a PE ratio of 15.07 and a beta of 0.94. EQT Midstream Partners has a one year low of $56.52 and a one year high of $80.63. The company’s 50-day moving average price is $77.97 and its 200 day moving average price is $76.36.
EQT Midstream Partners (NYSE:EQM) last released its earnings results on Thursday, July 28th. The company reported $1.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.12. The company had revenue of $172 million for the quarter, compared to analysts’ expectations of $172.47 million. EQT Midstream Partners’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.12 earnings per share. Analysts anticipate that EQT Midstream Partners will post $5.06 EPS for the current year.
A number of large investors have recently modified their holdings of the company. Zions Bancorporation bought a new stake in shares of EQT Midstream Partners during the first quarter valued at $113,000. Americafirst Capital Management LLC bought a new stake in shares of EQT Midstream Partners during the second quarter valued at $130,000. CENTRAL TRUST Co boosted its stake in shares of EQT Midstream Partners by 31.3% in the second quarter. CENTRAL TRUST Co now owns 1,699 shares of the company’s stock valued at $136,000 after buying an additional 405 shares during the last quarter. Solaris Asset Management LLC boosted its stake in shares of EQT Midstream Partners by 28.1% in the second quarter. Solaris Asset Management LLC now owns 2,050 shares of the company’s stock valued at $165,000 after buying an additional 450 shares during the last quarter. Finally, Cedar Wealth Management LLC bought a new stake in shares of EQT Midstream Partners during the second quarter valued at $199,000.
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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