Cohen & Steers Inc. Has $13.08 Million Stake in EQM Midstream Partners LP (EQM)
Cohen & Steers Inc. raised its holdings in shares of EQM Midstream Partners LP (NYSE:EQM) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 302,498 shares of the pipeline company’s stock after acquiring an additional 2,104 shares during the quarter. Cohen & Steers Inc.’s holdings in EQM Midstream Partners were worth $13,083,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in EQM. Advisor Group Inc. lifted its holdings in shares of EQM Midstream Partners by 297.8% in the 4th quarter. Advisor Group Inc. now owns 3,103 shares of the pipeline company’s stock valued at $135,000 after purchasing an additional 2,323 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of EQM Midstream Partners by 645.3% in the 4th quarter. Bessemer Group Inc. now owns 3,600 shares of the pipeline company’s stock valued at $156,000 after purchasing an additional 3,117 shares during the last quarter. Penserra Capital Management LLC purchased a new stake in shares of EQM Midstream Partners in the 4th quarter valued at about $184,000. Gratus Capital LLC purchased a new stake in shares of EQM Midstream Partners in the 3rd quarter valued at about $203,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of EQM Midstream Partners in the 4th quarter valued at about $212,000. 67.34% of the stock is owned by institutional investors and hedge funds.
EQM has been the subject of several analyst reports. Morgan Stanley reduced their price objective on EQM Midstream Partners from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Wednesday, November 14th. Citigroup raised EQM Midstream Partners from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $82.00 to $58.00 in a research note on Thursday, November 29th. Barclays reduced their price objective on EQM Midstream Partners from $48.00 to $44.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 6th. Stifel Nicolaus downgraded EQM Midstream Partners from a “buy” rating to a “hold” rating and reduced their price objective for the company from $56.00 to $51.00 in a research note on Monday, December 3rd. Finally, US Capital Advisors downgraded EQM Midstream Partners from an “overweight” rating to a “hold” rating in a research note on Friday, January 4th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $57.81.
EQM Midstream Partners (NYSE:EQM) last released its earnings results on Thursday, February 14th. The pipeline company reported ($0.89) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.30 by ($2.19). EQM Midstream Partners had a return on equity of 19.63% and a net margin of 36.10%. The business had revenue of $384.80 million for the quarter, compared to analyst estimates of $380.81 million. During the same quarter in the previous year, the firm posted $1.28 EPS. The business’s revenue for the quarter was up 31.6% on a year-over-year basis. As a group, equities research analysts forecast that EQM Midstream Partners LP will post 4.18 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 13th. Shareholders of record on Friday, February 1st were given a dividend of $1.13 per share. This is a boost from EQM Midstream Partners’s previous quarterly dividend of $1.12. The ex-dividend date was Thursday, January 31st. This represents a $4.52 annualized dividend and a yield of 10.68%. EQM Midstream Partners’s payout ratio is presently 89.15%.
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EQM Midstream Partners 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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