Shares of EQM Midstream Partners LP (NYSE:EQM) have received a consensus recommendation of “Hold” from the twelve research firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $43.63.
EQM has been the subject of a number of research reports. UBS Group raised 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. Barclays set a $40.00 target price on EQM Midstream Partners and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Credit Suisse Group raised EQM Midstream Partners from a “neutral” rating to an “outperform” rating and lowered their target price for the stock from $39.00 to $30.00 in a research note on Monday, November 25th. ValuEngine cut EQM Midstream Partners from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. Finally, Zacks Investment Research raised EQM Midstream Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, November 27th.
Large investors have recently added to or reduced their stakes in the business. Man Group plc bought a new stake in EQM Midstream Partners in the 3rd quarter valued at $1,115,000. Chilton Investment Co. LLC bought a new position in shares of EQM Midstream Partners in the third quarter worth $276,000. Virtu Financial LLC bought a new position in shares of EQM Midstream Partners in the third quarter worth $811,000. Northwestern Mutual Investment Management Company LLC increased its position in shares of EQM Midstream Partners by 24.1% in the third quarter. Northwestern Mutual Investment Management Company LLC now owns 890,449 shares of the pipeline company’s stock worth $29,118,000 after purchasing an additional 173,165 shares during the period. Finally, Cincinnati Insurance Co. increased its position in shares of EQM Midstream Partners by 74.2% in the third quarter. Cincinnati Insurance Co. now owns 57,875 shares of the pipeline company’s stock worth $1,893,000 after purchasing an additional 24,655 shares during the period. 37.04% of the stock is owned by hedge funds and other institutional investors.
EQM Midstream Partners (NYSE:EQM) last posted its earnings results on Tuesday, November 5th. The pipeline company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.24. EQM Midstream Partners had a return on equity of 18.34% and a net margin of 18.00%. The business had revenue of $408.40 million during the quarter, compared to analysts’ expectations of $408.98 million. During the same period in the prior year, the business earned $1.14 EPS. EQM Midstream Partners’s revenue for the quarter was up 12.0% compared to the same quarter last year. Sell-side analysts anticipate that EQM Midstream Partners will post 3.27 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Friday, November 1st were paid a dividend of $1.16 per share. The ex-dividend date was Thursday, October 31st. This represents a $4.64 dividend on an annualized basis and a yield of 19.19%. EQM Midstream Partners’s payout ratio is 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.
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