Zacks: Brokerages Anticipate EQM Midstream Partners LP (NYSE:EQM) to Announce $1.05 Earnings Per Share

Brokerages expect that EQM Midstream Partners LP (NYSE:EQM) will report $1.05 earnings per share (EPS) for the current quarter, Zacks reports. Three analysts have made estimates for EQM Midstream Partners’ earnings. The lowest EPS estimate is $0.88 and the highest is $1.24. EQM Midstream Partners reported earnings per share of $1.14 in the same quarter last year, which would suggest a negative year-over-year growth rate of 7.9%. The firm is expected to announce its next earnings report before the market opens on Tuesday, November 5th.

On average, analysts expect that EQM Midstream Partners will report full-year earnings of $4.39 per share for the current fiscal year. For the next year, analysts forecast that the firm will report earnings of $4.27 per share, with EPS estimates ranging from $3.47 to $4.83. Zacks’ earnings per share averages are an average based on a survey of analysts that cover EQM Midstream Partners.

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

EQM has been the subject of a number of recent research reports. 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. Stifel Nicolaus set a $46.00 target price on shares of EQM Midstream Partners and gave the company a “hold” rating in a research note on Wednesday, July 31st. Credit Suisse Group cut their target price on shares of EQM Midstream Partners from $45.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, August 1st. UBS Group upgraded shares of EQM Midstream Partners from a “neutral” rating to a “buy” rating and set a $36.00 target price for the company in a research note on Thursday, September 26th. Finally, ValuEngine upgraded shares of EQM Midstream Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $47.18.

A number of institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. increased its holdings in shares of EQM Midstream Partners by 15.0% during the third quarter. Envestnet Asset Management Inc. now owns 18,294 shares of the pipeline company’s stock worth $598,000 after purchasing an additional 2,387 shares during the period. Nwam LLC boosted its position in EQM Midstream Partners by 20.5% in the third quarter. Nwam LLC now owns 17,952 shares of the pipeline company’s stock valued at $587,000 after buying an additional 3,059 shares in the last quarter. Cerebellum GP LLC boosted its position in EQM Midstream Partners by 322.8% in the third quarter. Cerebellum GP LLC now owns 14,011 shares of the pipeline company’s stock valued at $458,000 after buying an additional 10,697 shares in the last quarter. Campbell Capital Management Inc. boosted its position in EQM Midstream Partners by 2.0% in the third quarter. Campbell Capital Management Inc. now owns 31,589 shares of the pipeline company’s stock valued at $1,033,000 after buying an additional 619 shares in the last quarter. Finally, Barings LLC boosted its position in EQM Midstream Partners by 191.0% in the second quarter. Barings LLC now owns 144,057 shares of the pipeline company’s stock valued at $6,436,000 after buying an additional 94,557 shares in the last quarter. 37.98% of the stock is currently owned by hedge funds and other institutional investors.

EQM stock opened at $32.62 on Tuesday. The stock has a 50-day moving average price of $31.85 and a two-hundred day moving average price of $39.00. EQM Midstream Partners has a 1 year low of $28.44 and a 1 year high of $51.15. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.92. The stock has a market cap of $6.80 billion, a PE ratio of 6.43 and a beta of 0.97.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Friday, November 1st will be paid a $1.16 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $4.64 annualized dividend and a yield of 14.22%. EQM Midstream Partners’s dividend payout ratio (DPR) is currently 91.52%.

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.

Recommended Story: P/E Growth (PEG)

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.