EQT Midstream Partners, LP (EQM) Stock Rating Lowered by Zacks Investment Research

EQT Midstream Partners, LP (NYSE:EQM) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday.

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 equities research analysts also recently issued reports about the company. TheStreet upgraded EQT Midstream Partners, from a “c+” rating to a “b-” rating in a research report on Wednesday, July 19th. Royal Bank Of Canada restated a “buy” rating and issued a $96.00 target price on shares of EQT Midstream Partners, in a research report on Tuesday, October 10th. Seaport Global Securities started coverage on EQT Midstream Partners, in a research report on Tuesday, October 10th. They issued a “buy” rating and a $96.00 target price for the company. Stifel Nicolaus restated a “hold” rating on shares of EQT Midstream Partners, in a research report on Friday, June 23rd. Finally, Scotiabank set a $94.00 target price on EQT Midstream Partners, and gave the stock a “hold” rating in a research report on Saturday, July 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $91.50.

EQT Midstream Partners, (NYSE:EQM) opened at 73.87 on Monday. EQT Midstream Partners, has a one year low of $69.20 and a one year high of $82.99. The company’s 50-day moving average price is $75.15 and its 200 day moving average price is $75.10. The firm has a market capitalization of $5.95 billion, a PE ratio of 14.24 and a beta of 0.88.

EQT Midstream Partners, (NYSE:EQM) last released its earnings results on Thursday, July 27th. The pipeline company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.04). The firm had revenue of $199.00 million during the quarter, compared to analyst estimates of $195.00 million. EQT Midstream Partners, had a return on equity of 25.61% and a net margin of 66.99%. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter last year, the company earned $1.27 earnings per share. On average, analysts forecast that EQT Midstream Partners, will post $5.51 earnings per share for the current year.

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Several large investors have recently made changes to their positions in EQM. ING Groep NV lifted its position in shares of EQT Midstream Partners, by 248.4% during the 2nd quarter. ING Groep NV now owns 695,000 shares of the pipeline company’s stock valued at $51,868,000 after acquiring an additional 495,500 shares during the last quarter. Marshall Wace North America L.P. lifted its position in shares of EQT Midstream Partners, by 282.2% during the 2nd 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. Hamlin Capital Management LLC lifted its position in shares of EQT Midstream Partners, by 26.6% during the 2nd quarter. Hamlin Capital Management LLC now owns 1,116,129 shares of the pipeline company’s stock valued at $83,297,000 after acquiring an additional 234,542 shares during the last quarter. Bank of Montreal Can lifted its position in shares of EQT Midstream Partners, by 25.4% during the 2nd quarter. Bank of Montreal Can now owns 1,092,190 shares of the pipeline company’s stock valued at $81,510,000 after acquiring an additional 221,005 shares during the last quarter. Finally, Citigroup Inc. lifted its position in shares of EQT Midstream Partners, by 60.0% during the 2nd 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. Institutional investors own 73.47% of the company’s stock.

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.

Analyst Recommendations for EQT Midstream Partners, (NYSE:EQM)

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