Brokerages Set EQT Midstream Partners LP (EQM) Price Target at $83.75
EQT Midstream Partners LP (NYSE:EQM) has received a consensus recommendation of “Hold” from the sixteen brokerages that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $83.75.
EQM has been the subject of several recent analyst reports. US Capital Advisors downgraded shares of EQT Midstream Partners from a “buy” rating to a “buy” rating in a research note on Friday, November 17th. Stifel Nicolaus set a $90.00 target price on shares of EQT Midstream Partners and gave the company a “buy” rating in a research note on Wednesday, January 17th. Bank of America initiated coverage on shares of EQT Midstream Partners in a research note on Tuesday, January 9th. They issued a “buy” rating and a $89.00 target price for the company. ValuEngine downgraded shares of EQT Midstream Partners from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Zacks Investment Research raised shares of EQT Midstream Partners from a “sell” rating to a “hold” rating in a research note on Monday, February 19th.
Hedge funds have recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of EQT Midstream Partners during the fourth quarter worth $115,000. Captrust Financial Advisors bought a new stake in shares of EQT Midstream Partners during the fourth quarter worth $122,000. Stuart Chaussee & Associates Inc. bought a new stake in shares of EQT Midstream Partners during the fourth quarter worth $181,000. Advisory Services Network LLC increased its position in shares of EQT Midstream Partners by 95.9% during the fourth quarter. Advisory Services Network LLC now owns 2,600 shares of the pipeline company’s stock worth $190,000 after acquiring an additional 1,273 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new stake in shares of EQT Midstream Partners during the third quarter worth $204,000. 74.89% of the stock is owned by institutional investors.
EQT Midstream Partners (NYSE:EQM) last issued its earnings results on Thursday, February 15th. The pipeline company reported $1.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.55 by ($0.27). EQT Midstream Partners had a net margin of 63.33% and a return on equity of 25.24%. The firm had revenue of $224.51 million during the quarter, compared to the consensus estimate of $226.22 million. During the same period in the previous year, the company posted $1.31 EPS. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. equities research analysts anticipate that EQT Midstream Partners will post 5.71 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Friday, February 2nd were given a dividend of $1.025 per share. This is an increase from EQT Midstream Partners’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $4.10 annualized dividend and a dividend yield of 6.52%. EQT Midstream Partners’s dividend payout ratio is currently 79.00%.
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.
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