EQT Midstream Partners (NYSE:EQM) had its target price lowered by equities researchers at Citigroup to $64.00 in a research note issued on Tuesday, The Fly reports. The brokerage presently has an “overweight” rating on the pipeline company’s stock. Citigroup’s price target suggests a potential upside of 23.79% from the stock’s current price.

EQM has been the subject of a number of other research reports. Bank of America decreased their target price on shares of EQT Midstream Partners from $64.00 to $62.00 and set a “neutral” rating for the company in a research note on Tuesday, August 21st. Morgan Stanley decreased their target price on shares of EQT Midstream Partners from $71.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, July 13th. Barclays decreased their target price on shares of EQT Midstream Partners from $68.00 to $64.00 and set an “overweight” rating for the company in a research note on Wednesday, July 11th. LADENBURG THALM/SH SH decreased their target price on shares of EQT Midstream Partners from $81.00 to $29.00 and set a “buy” rating for the company in a research note on Friday, August 17th. Finally, Zacks Investment Research lowered shares of EQT Midstream Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $63.64.

Shares of NYSE:EQM opened at $51.70 on Tuesday. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of 9.96 and a beta of 1.06. EQT Midstream Partners has a 12-month low of $48.91 and a 12-month high of $77.97. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.42 and a quick ratio of 1.42.

EQT Midstream Partners (NYSE:EQM) last issued its earnings results on Thursday, July 26th. The pipeline company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.29). The company had revenue of $269.76 million for the quarter, compared to analyst estimates of $247.61 million. EQT Midstream Partners had a net margin of 63.76% and a return on equity of 26.66%. The company’s quarterly revenue was up 37.1% on a year-over-year basis. During the same period last year, the business earned $1.27 EPS. equities analysts forecast that EQT Midstream Partners will post 5.83 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the stock. Diversified Trust Co lifted its stake in shares of EQT Midstream Partners by 16.1% in the 2nd quarter. Diversified Trust Co now owns 23,190 shares of the pipeline company’s stock valued at $1,196,000 after purchasing an additional 3,215 shares during the last quarter. Tortoise Index Solutions LLC lifted its stake in shares of EQT Midstream Partners by 16.2% in the 2nd quarter. Tortoise Index Solutions LLC now owns 8,908 shares of the pipeline company’s stock valued at $460,000 after purchasing an additional 1,242 shares during the last quarter. Keybank National Association OH lifted its stake in shares of EQT Midstream Partners by 26.2% in the 2nd quarter. Keybank National Association OH now owns 4,753 shares of the pipeline company’s stock valued at $245,000 after purchasing an additional 987 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of EQT Midstream Partners by 3.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 135,435 shares of the pipeline company’s stock valued at $6,988,000 after purchasing an additional 3,886 shares during the last quarter. Finally, Securian Asset Management Inc lifted its stake in shares of EQT Midstream Partners by 179.7% in the 2nd quarter. Securian Asset Management Inc now owns 36,578 shares of the pipeline company’s stock valued at $1,887,000 after purchasing an additional 23,500 shares during the last quarter. 65.73% of the stock is owned by institutional investors and hedge funds.

EQT Midstream Partners Company Profile

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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The Fly

Analyst Recommendations for EQT Midstream Partners (NYSE:EQM)

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