Zacks: Brokerages Anticipate EQM Midstream Partners LP (NYSE:EQM) to Post $1.07 EPS

Wall Street brokerages predict that EQM Midstream Partners LP (NYSE:EQM) will post $1.07 earnings per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for EQM Midstream Partners’ earnings, with the highest EPS estimate coming in at $1.28 and the lowest estimate coming in at $0.88. EQM Midstream Partners posted earnings of $1.14 per share in the same quarter last year, which indicates a negative year over year growth rate of 6.1%. The firm is expected to announce its next earnings report on Thursday, October 24th.

On average, analysts expect that EQM Midstream Partners will report full year earnings of $4.57 per share for the current fiscal year, with EPS estimates ranging from $4.34 to $4.80. For the next year, analysts anticipate that the company will report earnings of $4.35 per share, with EPS estimates ranging from $3.52 to $5.49. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for EQM Midstream Partners.

EQM Midstream Partners (NYSE:EQM) last posted its quarterly earnings results on Tuesday, July 30th. The pipeline company reported $0.93 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.97 by ($0.04). EQM Midstream Partners had a return on equity of 16.66% and a net margin of 32.78%. The company had revenue of $406.17 million for the quarter, compared to analyst estimates of $401.94 million.



Several analysts have issued reports on the stock. Credit Suisse Group dropped their price target on shares of EQM Midstream Partners from $45.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, August 1st. Zacks Investment Research downgraded shares of EQM Midstream Partners from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Stifel Nicolaus set a $46.00 target price on shares of EQM Midstream Partners and gave the company a “hold” rating in a report on Wednesday, July 31st. Royal Bank of Canada set a $42.00 target price on shares of EQM Midstream Partners and gave the company a “hold” rating in a research note on Wednesday, July 31st. Finally, UBS Group began coverage on EQM Midstream Partners in a report on Tuesday, August 6th. They set a “neutral” rating and a $36.00 price target for the company. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. EQM Midstream Partners currently has an average rating of “Hold” and an average target price of $48.36.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. HM Payson & Co. bought a new position in EQM Midstream Partners in the 2nd quarter valued at about $35,000. Optimum Investment Advisors bought a new stake in shares of EQM Midstream Partners during the first quarter worth approximately $46,000. Lee Financial Co bought a new stake in shares of EQM Midstream Partners during the second quarter worth approximately $92,000. Cerebellum GP LLC bought a new stake in shares of EQM Midstream Partners during the second quarter worth approximately $148,000. Finally, Northern Oak Wealth Management Inc. grew its position in shares of EQM Midstream Partners by 15.2% in the second quarter. Northern Oak Wealth Management Inc. now owns 3,800 shares of the pipeline company’s stock valued at $170,000 after purchasing an additional 500 shares during the last quarter. Institutional investors and hedge funds own 41.93% of the company’s stock.

Shares of NYSE:EQM traded up $0.22 during midday trading on Friday, hitting $30.26. The stock had a trading volume of 457,330 shares, compared to its average volume of 658,536. EQM Midstream Partners has a 12 month low of $28.44 and a 12 month high of $57.10. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.92. The business’s 50-day simple moving average is $33.19 and its 200-day simple moving average is $41.35. The company has a market cap of $6.26 billion, a P/E ratio of 5.97 and a beta of 0.97.

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Friday, August 2nd were paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 15.33%. The ex-dividend date was Thursday, August 1st. EQM Midstream Partners’s dividend payout ratio is presently 91.52%.

About EQM Midstream Partners

EQM Midstream Partners, LP owns, operates, acquires, and develops midstream assets in the Appalachian Basin. It operates through three segments: Gathering, Transmission, and Water. As of December 31, 2018, the company owned approximately 700 miles of high-pressure gathering lines and 1,500 miles of Federal Energy Regulatory Commission (FERC) regulated low-pressure gathering lines; approximately 950 miles of FERC regulated interstate pipelines; and approximately 160 miles of pipelines.

Featured Story: Understanding the Price to Earnings Ratio (PE)

Get a free copy of the Zacks research report on EQM Midstream Partners (EQM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for EQM Midstream Partners (NYSE:EQM)

Receive News & Ratings for EQM Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQM Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.