Brokerages Set EQM Midstream Partners LP (NYSE:EQM) Price Target at $48.20

Shares of EQM Midstream Partners LP (NYSE:EQM) have earned an average recommendation of “Hold” from the fourteen brokerages that are covering the stock, Marketbeat.com reports. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $48.20.

EQM has been the topic of a number of research reports. 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. Zacks Investment Research downgraded shares of EQM Midstream Partners from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Barclays set a $40.00 target price on shares of EQM Midstream Partners and gave the company a “hold” rating in a research note on Tuesday, October 15th. ValuEngine raised shares of EQM Midstream Partners from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus set a $46.00 price target on shares of EQM Midstream Partners and gave the company a “hold” rating in a report on Wednesday, July 31st.

Shares of EQM stock traded down $0.18 during mid-day trading on Monday, reaching $32.62. The company’s stock had a trading volume of 22,478 shares, compared to its average volume of 810,919. The company’s 50 day simple moving average is $31.77 and its 200-day simple moving average is $39.07. EQM Midstream Partners has a 12-month low of $28.44 and a 12-month high of $51.15. 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 firm has a market capitalization of $6.87 billion, a PE ratio of 6.44 and a beta of 0.97.

EQM Midstream Partners (NYSE:EQM) last issued its earnings results on Tuesday, July 30th. The pipeline company reported $0.93 EPS 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 analysts’ expectations of $401.94 million. As a group, research analysts anticipate that EQM Midstream Partners will post 4.73 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tortoise Capital Advisors L.L.C. grew its holdings in EQM Midstream Partners by 6.7% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 14,760,030 shares of the pipeline company’s stock valued at $659,478,000 after purchasing an additional 923,585 shares in the last quarter. Invesco Ltd. grew its holdings in EQM Midstream Partners by 7,335.8% during the 2nd quarter. Invesco Ltd. now owns 9,020,819 shares of the pipeline company’s stock worth $403,051,000 after acquiring an additional 8,899,503 shares in the last quarter. Brookfield Asset Management Inc. grew its holdings in EQM Midstream Partners by 29.5% during the 2nd quarter. Brookfield Asset Management Inc. now owns 3,231,999 shares of the pipeline company’s stock worth $144,406,000 after acquiring an additional 736,941 shares in the last quarter. Bank of America Corp DE grew its holdings in EQM Midstream Partners by 5.4% during the 2nd quarter. Bank of America Corp DE now owns 2,000,518 shares of the pipeline company’s stock worth $89,383,000 after acquiring an additional 102,534 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in EQM Midstream Partners by 6.6% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 1,977,712 shares of the pipeline company’s stock worth $88,365,000 after acquiring an additional 122,814 shares in the last quarter. 37.98% of the stock is owned by institutional investors and hedge funds.

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.

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

Analyst Recommendations 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.