Davis Selected Advisers Sells 4,710 Shares of EQT Midstream Partners LP (EQM)
Davis Selected Advisers decreased its position in EQT Midstream Partners LP (NYSE:EQM) by 3.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 126,102 shares of the pipeline company’s stock after selling 4,710 shares during the quarter. Davis Selected Advisers owned 0.16% of EQT Midstream Partners worth $9,454,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EQM. Alps Advisors Inc. increased its position in shares of EQT Midstream Partners by 11.2% in the third quarter. Alps Advisors Inc. now owns 4,761,137 shares of the pipeline company’s stock valued at $356,942,000 after acquiring an additional 480,995 shares during the last quarter. Marshall Wace North America L.P. increased its position in shares of EQT Midstream Partners by 282.2% in the second quarter. Marshall Wace North America L.P. now owns 488,401 shares of the pipeline company’s stock valued at $36,630,000 after acquiring an additional 360,601 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of EQT Midstream Partners by 20.8% in the third quarter. JPMorgan Chase & Co. now owns 1,271,917 shares of the pipeline company’s stock valued at $93,817,000 after acquiring an additional 219,261 shares during the last quarter. Citigroup Inc. increased its position in shares of EQT Midstream Partners by 60.0% in the second quarter. Citigroup Inc. now owns 449,721 shares of the pipeline company’s stock valued at $33,563,000 after acquiring an additional 168,675 shares during the last quarter. Finally, Cadence Capital Management LLC acquired a new stake in shares of EQT Midstream Partners in the third quarter valued at about $11,963,000. 73.74% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on EQM shares. BidaskClub raised EQT Midstream Partners from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Stifel Nicolaus set a $79.00 target price on EQT Midstream Partners and gave the company a “hold” rating in a research report on Friday, August 25th. Royal Bank of Canada reissued a “buy” rating and set a $96.00 price target on shares of EQT Midstream Partners in a research report on Tuesday, October 10th. Seaport Global Securities began coverage on EQT Midstream Partners in a research report on Tuesday, October 10th. They set a “buy” rating and a $96.00 price target on the stock. Finally, Zacks Investment Research downgraded EQT Midstream Partners from a “hold” rating to a “strong sell” rating in a research report on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $90.83.
Shares of EQT Midstream Partners LP (NYSE:EQM) traded up $0.89 during midday trading on Friday, reaching $72.51. The company’s stock had a trading volume of 404,000 shares, compared to its average volume of 261,259. The firm has a market capitalization of $5,771.27, a P/E ratio of 13.72, a PEG ratio of 1.06 and a beta of 0.89. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.52. EQT Midstream Partners LP has a 1 year low of $64.42 and a 1 year high of $82.99.
EQT Midstream Partners (NYSE:EQM) last announced its quarterly earnings results on Thursday, October 26th. The pipeline company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.02. The firm had revenue of $207.20 million for the quarter, compared to the consensus estimate of $205.29 million. EQT Midstream Partners had a return on equity of 25.85% and a net margin of 65.99%. The business’s revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.23 earnings per share. equities analysts forecast that EQT Midstream Partners LP will post 5.63 EPS for the current fiscal year.
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EQT Midstream Partners Profile
EQT Midstream Partners, LP (EQM) owns, operates, acquires and develops midstream assets in the Appalachian Basin. The Company’s segments include Gathering and Transmission. The Gathering segment primarily includes high pressure gathering lines and the Federal Energy Regulatory Commission (FERC)-regulated low pressure gathering system.
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