EQT Midstream Partners LP (EQM) Lifted to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of EQT Midstream Partners LP (NYSE:EQM) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. Zacks Investment Research currently has $85.00 price target 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. “
Other analysts have also recently issued research reports about the company. Credit Suisse Group AG reaffirmed a neutral rating on shares of EQT Midstream Partners in a research report on Tuesday, August 16th. Morgan Stanley reaffirmed a hold rating and issued a $83.00 price target on shares of EQT Midstream Partners in a research report on Wednesday, September 21st. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $89.75.
EQT Midstream Partners (NYSE:EQM) opened at 75.36 on Wednesday. The firm has a market cap of $6.07 billion, a price-to-earnings ratio of 14.91 and a beta of 0.94. The company’s 50-day moving average price is $77.52 and its 200-day moving average price is $76.39. EQT Midstream Partners has a 52-week low of $56.52 and a 52-week high of $80.63.
EQT Midstream Partners (NYSE:EQM) last announced its quarterly earnings results on Thursday, July 28th. The company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.12. The company earned $172 million during the quarter, compared to analyst estimates of $172.47 million. During the same period in the prior year, the firm earned $1.12 EPS. EQT Midstream Partners’s quarterly revenue was up 18.9% on a year-over-year basis. Analysts predict that EQT Midstream Partners will post $5.06 EPS for the current year.
A number of institutional investors have recently bought and sold shares of the stock. Signaturefd LLC boosted its position in EQT Midstream Partners by 3.2% in the second quarter. Signaturefd LLC now owns 3,225 shares of the company’s stock valued at $259,000 after buying an additional 100 shares during the period. Conning Inc. boosted its position in EQT Midstream Partners by 0.3% in the second quarter. Conning Inc. now owns 38,380 shares of the company’s stock valued at $3,082,000 after buying an additional 112 shares during the period. LVW Advisors LLC boosted its position in EQT Midstream Partners by 2.6% in the first quarter. LVW Advisors LLC now owns 4,797 shares of the company’s stock valued at $357,000 after buying an additional 122 shares during the period. Van ECK Associates Corp boosted its position in EQT Midstream Partners by 0.9% in the second quarter. Van ECK Associates Corp now owns 14,066 shares of the company’s stock valued at $1,129,000 after buying an additional 123 shares during the period. Finally, Alliancebernstein L.P. boosted its position in EQT Midstream Partners by 2.4% in the second quarter. Alliancebernstein L.P. now owns 8,269 shares of the company’s stock valued at $664,000 after buying an additional 190 shares during the period.
EQT Midstream Partners Company Profile
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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