Chickasaw Capital Management LLC trimmed its holdings in shares of EQM Midstream Partners LP (NYSE:EQM) by 19.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 758,424 shares of the pipeline company’s stock after selling 188,757 shares during the quarter. EQM Midstream Partners comprises 1.0% of Chickasaw Capital Management LLC’s portfolio, making the stock its 21st biggest holding. Chickasaw Capital Management LLC owned 0.62% of EQM Midstream Partners worth $32,802,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Conning Inc. increased its position in EQM Midstream Partners by 25.2% during the third quarter. Conning Inc. now owns 66,123 shares of the pipeline company’s stock worth $3,490,000 after buying an additional 13,290 shares during the last quarter. Spirit of America Management Corp NY increased its position in EQM Midstream Partners by 74.1% during the third quarter. Spirit of America Management Corp NY now owns 325,253 shares of the pipeline company’s stock worth $17,167,000 after buying an additional 138,438 shares during the last quarter. California Public Employees Retirement System increased its position in EQM Midstream Partners by 22.7% during the second quarter. California Public Employees Retirement System now owns 179,396 shares of the pipeline company’s stock worth $9,255,000 after buying an additional 33,213 shares during the last quarter. Brookfield Asset Management Inc. increased its position in EQM Midstream Partners by 532.4% during the third quarter. Brookfield Asset Management Inc. now owns 2,097,579 shares of the pipeline company’s stock worth $110,710,000 after buying an additional 1,765,910 shares during the last quarter. Finally, Highland Capital Management LP increased its position in EQM Midstream Partners by 35.2% during the third quarter. Highland Capital Management LP now owns 33,786 shares of the pipeline company’s stock worth $1,783,000 after buying an additional 8,800 shares during the last quarter. 68.59% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE EQM traded up $0.01 during mid-day trading on Friday, hitting $44.77. The company had a trading volume of 1,059,100 shares, compared to its average volume of 905,288. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.34 and a current ratio of 0.34. EQM Midstream Partners LP has a 12 month low of $39.32 and a 12 month high of $77.97. The stock has a market cap of $5.53 billion, a PE ratio of 8.63 and a beta of 1.09.

EQM Midstream Partners (NYSE:EQM) last released its earnings results on Thursday, October 25th. The pipeline company reported $1.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by ($0.07). EQM Midstream Partners had a net margin of 60.71% and a return on equity of 22.30%. The company had revenue of $364.58 million during the quarter, compared to the consensus estimate of $356.99 million. Research analysts forecast that EQM Midstream Partners LP will post 6.03 earnings per share for the current fiscal year.

Several equities analysts have commented on EQM shares. Stifel Nicolaus lowered their target price on shares of EQM Midstream Partners from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, October 9th. Morgan Stanley lowered their price target on EQM Midstream Partners from $61.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, October 30th. Citigroup raised EQM Midstream Partners from a “neutral” rating to a “buy” rating and lowered their price target for the company from $82.00 to $58.00 in a research report on Thursday, November 29th. Barclays reaffirmed an “equal weight” rating and issued a $48.00 price target (down from $59.00) on shares of EQM Midstream Partners in a research report on Friday, December 7th. Finally, Credit Suisse Group set a $52.00 price target on EQM Midstream Partners and gave the company a “hold” rating in a research report on Tuesday, October 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $58.33.

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EQM Midstream Partners Company Profile

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

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