Wolfe Research upgraded shares of EQM Midstream Partners (NYSE:EQM) from a peer perform rating to an outperform rating in a research report report published on Tuesday morning, MarketBeat.com reports. The brokerage currently has $66.00 price objective on the pipeline company’s stock.

A number of other equities analysts have also recently issued reports on EQM. Jefferies Financial Group initiated coverage on EQM Midstream Partners in a report on Wednesday, July 25th. They issued a buy rating and a $65.00 target price for the company. Royal Bank of Canada reaffirmed a hold rating and issued a $61.00 target price on shares of EQM Midstream Partners in a report on Friday, July 27th. Stifel Nicolaus lowered their target price on EQM Midstream Partners from $73.00 to $66.00 and set a buy rating for the company in a report on Friday, July 27th. Bank of America lowered their target price on EQM Midstream Partners from $66.00 to $64.00 and set a neutral rating for the company in a report on Friday, July 27th. Finally, Wells Fargo & Co cut EQM Midstream Partners from an outperform rating to a market perform rating and upped their target price for the stock from $69.00 to $77.00 in a report on Monday, July 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. EQM Midstream Partners presently has a consensus rating of Buy and a consensus target price of $60.86.

Shares of EQM opened at $48.60 on Tuesday. EQM Midstream Partners has a 12-month low of $42.87 and a 12-month high of $77.97. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $5.83 billion, a price-to-earnings ratio of 9.36 and a beta of 1.13.

EQM Midstream Partners (NYSE:EQM) last issued its earnings results on Thursday, October 25th. The pipeline company reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.07). EQM Midstream Partners had a return on equity of 22.30% and a net margin of 60.71%. The firm had revenue of $364.58 million during the quarter, compared to analyst estimates of $356.99 million. As a group, research analysts forecast that EQM Midstream Partners will post 6.06 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Stockholders of record on Friday, November 2nd were paid a $1.115 dividend. This is a boost from EQM Midstream Partners’s previous quarterly dividend of $1.09. The ex-dividend date was Thursday, November 1st. This represents a $4.46 annualized dividend and a dividend yield of 9.18%. EQM Midstream Partners’s dividend payout ratio is presently 85.93%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gryphon Financial Partners LLC grew its stake in EQM Midstream Partners by 100.2% during the third quarter. Gryphon Financial Partners LLC now owns 3,791 shares of the pipeline company’s stock worth $200,000 after purchasing an additional 1,897 shares during the period. Gratus Capital LLC acquired a new stake in EQM Midstream Partners during the third quarter worth approximately $203,000. Cambridge Investment Research Advisors Inc. acquired a new stake in EQM Midstream Partners during the third quarter worth approximately $244,000. Keybank National Association OH grew its stake in EQM Midstream Partners by 26.2% during the second quarter. Keybank National Association OH now owns 4,753 shares of the pipeline company’s stock worth $245,000 after purchasing an additional 987 shares during the period. Finally, Berman Capital Advisors LLC acquired a new stake in EQM Midstream Partners during the third quarter worth approximately $261,000. 59.70% of the stock is owned by institutional investors and hedge funds.

About EQM Midstream Partners

EQM Midstream Partners, LP provides natural gas gathering, transmission, and storage services in Pennsylvania, West Virginia, and Ohio. The company owns, operates, acquires, and develops midstream assets in the Appalachian Basin. The company also owns approximately 300 miles of high pressure gathering lines and 1,500 miles of federal energy regulatory commission (FERC) regulated low pressure gathering lines; and approximately 950 miles of FERC regulated interstate pipelines.

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Analyst Recommendations for EQM Midstream Partners (NYSE:EQM)

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