Apollo Management Holdings L.P. bought a new position in shares of EQT Midstream Partners LP (NYSE:EQM) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 80,000 shares of the pipeline company’s stock, valued at approximately $4,127,000. Apollo Management Holdings L.P. owned approximately 0.09% of EQT Midstream Partners as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Diversified Trust Co grew its holdings in shares of EQT Midstream Partners by 16.1% during the second quarter. Diversified Trust Co now owns 23,190 shares of the pipeline company’s stock worth $1,196,000 after buying an additional 3,215 shares in the last quarter. Tortoise Index Solutions LLC grew its holdings in shares of EQT Midstream Partners by 16.2% during the second quarter. Tortoise Index Solutions LLC now owns 8,908 shares of the pipeline company’s stock worth $460,000 after buying an additional 1,242 shares in the last quarter. Virtu Financial LLC grew its holdings in shares of EQT Midstream Partners by 68.5% during the second quarter. Virtu Financial LLC now owns 14,882 shares of the pipeline company’s stock worth $768,000 after buying an additional 6,050 shares in the last quarter. Guggenheim Capital LLC grew its holdings in shares of EQT Midstream Partners by 31.0% during the first quarter. Guggenheim Capital LLC now owns 31,477 shares of the pipeline company’s stock worth $1,858,000 after buying an additional 7,450 shares in the last quarter. Finally, Alps Advisors Inc. grew its holdings in shares of EQT Midstream Partners by 5.8% during the second quarter. Alps Advisors Inc. now owns 4,871,408 shares of the pipeline company’s stock worth $356,100,000 after buying an additional 269,221 shares in the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.

Shares of EQM opened at $57.92 on Wednesday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.39. EQT Midstream Partners LP has a 12-month low of $48.91 and a 12-month high of $77.97. The stock has a market capitalization of $4.94 billion, a P/E ratio of 11.16 and a beta of 1.06.

EQT Midstream Partners (NYSE:EQM) last announced its quarterly earnings data on Thursday, July 26th. The pipeline company reported $1.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.38 by ($0.29). EQT Midstream Partners had a net margin of 63.76% and a return on equity of 26.66%. The firm had revenue of $269.76 million during the quarter, compared to analysts’ expectations of $247.61 million. During the same period in the prior year, the company posted $1.27 EPS. The company’s revenue for the quarter was up 37.1% compared to the same quarter last year. equities research analysts anticipate that EQT Midstream Partners LP will post 5.83 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 14th. Shareholders of record on Friday, August 3rd were given a $1.09 dividend. The ex-dividend date was Thursday, August 2nd. This represents a $4.36 dividend on an annualized basis and a yield of 7.53%. This is a boost from EQT Midstream Partners’s previous quarterly dividend of $1.07. EQT Midstream Partners’s dividend payout ratio is presently 84.01%.

A number of equities research analysts have recently issued reports on EQM shares. Jefferies Financial Group began coverage on shares of EQT Midstream Partners in a report on Wednesday, July 25th. They set a “buy” rating and a $65.00 target price for the company. Wells Fargo & Co lowered shares of EQT Midstream Partners from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $69.00 to $77.00 in a report on Monday, July 30th. Morgan Stanley dropped their price objective on shares of EQT Midstream Partners from $65.00 to $61.00 and set an “overweight” rating for the company in a report on Friday, August 17th. Stifel Nicolaus dropped their price objective on shares of EQT Midstream Partners from $66.00 to $62.00 and set a “buy” rating for the company in a report on Friday, August 17th. Finally, Zacks Investment Research lowered shares of EQT Midstream Partners from a “hold” rating to a “sell” rating in a report on Wednesday, July 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $63.62.

About EQT Midstream Partners

EQT 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 owned 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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Institutional Ownership by Quarter for EQT Midstream Partners (NYSE:EQM)

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