EQT Midstream Partners (EQM) Coverage Initiated by Analysts at Credit Suisse Group
Credit Suisse Group assumed coverage on shares of EQT Midstream Partners (NYSE:EQM) in a report released on Friday. The firm issued a neutral rating and a $71.00 price objective on the pipeline company’s stock.
EQM has been the topic of a number of other research reports. Morgan Stanley reduced their price target on EQT Midstream Partners from $86.00 to $83.00 and set an overweight rating on the stock in a research report on Friday, November 17th. Mitsubishi UFJ Financial Group reiterated an overweight rating on shares of EQT Midstream Partners in a research report on Thursday, October 26th. Royal Bank of Canada reiterated a buy rating and issued a $96.00 price target 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 price target on the stock. Finally, ValuEngine lowered EQT Midstream Partners from a buy rating to a hold rating in a research report on Sunday, December 31st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $88.00.
Shares of EQT Midstream Partners (NYSE EQM) opened at $75.14 on Friday. EQT Midstream Partners has a 52-week low of $64.42 and a 52-week high of $82.99. The firm has a market capitalization of $6,089.56, a price-to-earnings ratio of 14.39, a P/E/G ratio of 1.11 and a beta of 0.89. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.52.
EQT Midstream Partners (NYSE:EQM) last released its quarterly earnings results on Thursday, October 26th. The pipeline company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.02. EQT Midstream Partners had a return on equity of 25.85% and a net margin of 65.99%. The firm had revenue of $207.20 million for the quarter, compared to analyst estimates of $205.29 million. During the same quarter in the previous year, the company posted $1.23 EPS. The business’s revenue was up 17.2% on a year-over-year basis. analysts forecast that EQT Midstream Partners will post 5.63 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the company. Saratoga Research & Investment Management acquired a new position in shares of EQT Midstream Partners in the 3rd quarter valued at about $186,000. A. D. Beadell Investment Counsel Inc. acquired a new position in shares of EQT Midstream Partners in the 3rd quarter valued at about $203,000. CIBC Asset Management Inc acquired a new position in shares of EQT Midstream Partners in the 3rd quarter valued at about $204,000. Dearborn Partners LLC acquired a new position in shares of EQT Midstream Partners in the 3rd quarter valued at about $205,000. Finally, Keybank National Association OH acquired a new position in shares of EQT Midstream Partners in the 3rd quarter valued at about $259,000. 73.71% of the stock is currently owned by institutional investors.
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About EQT Midstream Partners
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.
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