Zacks Investment Research cut shares of EQT Midstream Partners (NYSE:EQM) from a hold rating to a sell rating in a report released on Thursday.

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. “

EQM has been the subject of a number of other research reports. Stifel Nicolaus set a $90.00 target price on EQT Midstream Partners and gave the stock a buy rating in a report on Wednesday. Seaport Global Securities started coverage on EQT Midstream Partners in a report on Tuesday, October 10th. They set a buy rating and a $96.00 target price for the company. Royal Bank of Canada reiterated a buy rating and set a $96.00 target price on shares of EQT Midstream Partners in a report on Tuesday, October 10th. Bank of America started coverage on EQT Midstream Partners in a report on Tuesday, January 9th. They set a buy rating and a $89.00 target price for the company. Finally, Credit Suisse Group started coverage on EQT Midstream Partners in a report on Friday, January 5th. They set a neutral rating and a $71.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $89.50.

EQT Midstream Partners (NYSE:EQM) traded up $0.17 on Thursday, hitting $76.51. 216,166 shares of the company were exchanged, compared to its average volume of 350,843. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.90 and a current ratio of 0.90. EQT Midstream Partners has a 1-year low of $64.42 and a 1-year high of $82.99. The company has a market cap of $6,280.00, a PE ratio of 14.63, a P/E/G ratio of 1.08 and a beta of 0.90.

EQT Midstream Partners (NYSE:EQM) last released its quarterly earnings data on Thursday, October 26th. The pipeline company reported $1.28 EPS for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.02. EQT Midstream Partners had a net margin of 65.99% and a return on equity of 25.85%. The business had revenue of $207.20 million during the quarter, compared to analysts’ expectations of $205.29 million. During the same quarter in the prior year, the company earned $1.23 EPS. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. research analysts predict that EQT Midstream Partners will post 5.33 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in EQM. Alliancebernstein L.P. grew its holdings in shares of EQT Midstream Partners by 5.9% in the 2nd quarter. Alliancebernstein L.P. now owns 14,356 shares of the pipeline company’s stock valued at $1,071,000 after acquiring an additional 803 shares in the last quarter. BP Capital Fund Advisors LLC grew its holdings in shares of EQT Midstream Partners by 26.1% in the 2nd quarter. BP Capital Fund Advisors LLC now owns 49,782 shares of the pipeline company’s stock valued at $3,715,000 after acquiring an additional 10,308 shares in the last quarter. Veritable L.P. grew its holdings in shares of EQT Midstream Partners by 5.0% in the 2nd quarter. Veritable L.P. now owns 5,680 shares of the pipeline company’s stock valued at $424,000 after acquiring an additional 269 shares in the last quarter. Friedberg Investment Management grew its holdings in shares of EQT Midstream Partners by 88.4% in the 2nd quarter. Friedberg Investment Management now owns 24,120 shares of the pipeline company’s stock valued at $1,800,000 after acquiring an additional 11,320 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of EQT Midstream Partners by 49.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,613 shares of the pipeline company’s stock valued at $269,000 after acquiring an additional 1,198 shares in the last quarter. Hedge funds and other institutional investors own 73.78% of the company’s stock.

TRADEMARK VIOLATION WARNING: This report was originally published by Daily Political and is the sole property of of Daily Political. If you are reading this report on another domain, it was copied illegally and reposted in violation of international trademark & copyright laws. The correct version of this report can be read at https://www.dailypolitical.com/2018/01/19/eqt-midstream-partners-eqm-downgraded-to-sell-at-zacks-investment-research.html.

EQT Midstream Partners Company 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.

Get a free copy of the Zacks research report on EQT Midstream Partners (EQM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for EQT Midstream Partners (NYSE:EQM)

Receive News & Ratings for EQT Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQT Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.