Zacks: Analysts Expect EQM Midstream Partners LP (NYSE:EQM) Will Announce Quarterly Sales of $424.21 Million

Wall Street brokerages predict that EQM Midstream Partners LP (NYSE:EQM) will post sales of $424.21 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for EQM Midstream Partners’ earnings, with the lowest sales estimate coming in at $401.40 million and the highest estimate coming in at $449.60 million. EQM Midstream Partners reported sales of $364.58 million in the same quarter last year, which indicates a positive year over year growth rate of 16.4%. The firm is scheduled to announce its next earnings results on Thursday, October 24th.

On average, analysts expect that EQM Midstream Partners will report full year sales of $1.65 billion for the current year, with estimates ranging from $1.60 billion to $1.71 billion. For the next financial year, analysts anticipate that the business will post sales of $1.79 billion, with estimates ranging from $1.71 billion to $1.88 billion. Zacks’ sales averages are an average based on a survey of analysts that follow 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 Zacks’ consensus estimate of $0.97 by ($0.04). EQM Midstream Partners had a net margin of 32.78% and a return on equity of 16.66%. The business had revenue of $406.17 million during the quarter, compared to analyst estimates of $401.94 million.

A number of analysts have weighed in on EQM shares. Royal Bank of Canada set a $42.00 price target on EQM Midstream Partners and gave the company a “hold” rating in a research note on Wednesday, July 31st. Zacks Investment Research upgraded EQM Midstream Partners from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Tuesday. UBS Group upgraded EQM Midstream Partners from a “neutral” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Thursday, September 26th. Stifel Nicolaus set a $46.00 target price on EQM Midstream Partners and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Finally, ValuEngine upgraded EQM Midstream Partners from a “sell” rating to a “hold” rating in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $47.55.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Creative Planning grew its holdings in shares of EQM Midstream Partners by 10.3% during the second quarter. Creative Planning now owns 9,200 shares of the pipeline company’s stock worth $411,000 after buying an additional 857 shares during the last quarter. Advisory Services Network LLC grew its holdings in shares of EQM Midstream Partners by 25.0% during the first quarter. Advisory Services Network LLC now owns 6,500 shares of the pipeline company’s stock worth $300,000 after buying an additional 1,300 shares during the last quarter. Invesco Ltd. grew its holdings in shares of EQM Midstream Partners by 7,335.8% during the second quarter. Invesco Ltd. now owns 9,020,819 shares of the pipeline company’s stock worth $403,051,000 after buying an additional 8,899,503 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of EQM Midstream Partners by 6.6% during the second quarter. CIBC Private Wealth Group LLC now owns 1,977,712 shares of the pipeline company’s stock worth $88,365,000 after buying an additional 122,814 shares during the last quarter. Finally, First Republic Investment Management Inc. grew its holdings in shares of EQM Midstream Partners by 4.1% during the second quarter. First Republic Investment Management Inc. now owns 13,147 shares of the pipeline company’s stock worth $587,000 after buying an additional 520 shares during the last quarter. Institutional investors and hedge funds own 38.00% of the company’s stock.

EQM Midstream Partners stock traded up $1.20 during midday trading on Tuesday, reaching $32.54. The company’s stock had a trading volume of 57,607 shares, compared to its average volume of 1,006,441. EQM Midstream Partners has a fifty-two week low of $28.44 and a fifty-two week high of $53.31. 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 company has a market cap of $6.70 billion, a P/E ratio of 6.41 and a beta of 0.97. The business has a 50-day simple moving average of $31.01 and a 200-day simple moving average of $40.31.

EQM Midstream Partners Company Profile

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.

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

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