EQT Midstream Partners (EQM) Issues Quarterly Earnings Results

EQT Midstream Partners (NYSE:EQM) posted its earnings results on Thursday, October 25th. The pipeline company reported $1.14 EPS for the quarter, missing the Zacks’ consensus estimate of $1.21 by ($0.07), MarketWatch Earnings reports. The business had revenue of $364.58 million during the quarter, compared to the consensus estimate of $356.99 million. EQT Midstream Partners had a return on equity of 22.30% and a net margin of 60.71%.

Shares of EQT Midstream Partners stock traded up $2.10 during trading hours on Friday, hitting $47.22. The company’s stock had a trading volume of 1,039,948 shares, compared to its average volume of 860,279. EQT Midstream Partners has a 12-month low of $42.87 and a 12-month high of $77.97. The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of 9.10 and a beta of 1.13. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.69.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Friday, November 2nd will be given a $1.115 dividend. This represents a $4.46 annualized dividend and a dividend yield of 9.45%. This is an increase from EQT Midstream Partners’s previous quarterly dividend of $1.09. The ex-dividend date is Thursday, November 1st. EQT Midstream Partners’s payout ratio is presently 85.93%.

A number of analysts have commented on the company. Barclays reduced their target price on EQT Midstream Partners from $64.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, August 29th. Bank of America reduced their target price on EQT Midstream Partners from $64.00 to $62.00 and set a “neutral” rating for the company in a report on Tuesday, August 21st. LADENBURG THALM/SH SH dropped their price target on EQT Midstream Partners from $81.00 to $29.00 and set a “buy” rating on the stock in a research note on Friday, August 17th. Zacks Investment Research upgraded EQT Midstream Partners from a “sell” rating to a “hold” rating in a research note on Monday, July 16th. Finally, Royal Bank of Canada restated a “hold” rating and issued a $61.00 price target on shares of EQT Midstream Partners in a research note on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $61.64.

A hedge fund recently raised its stake in EQT Midstream Partners stock. Bank of New York Mellon Corp grew its holdings in EQT Midstream Partners LP (NYSE:EQM) by 15.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,178 shares of the pipeline company’s stock after acquiring an additional 2,130 shares during the period. Bank of New York Mellon Corp’s holdings in EQT Midstream Partners were worth $834,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 69.52% of the company’s stock.

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About EQT Midstream Partners

EQT Midstream Partners, LP provides natural gas gathering, transmission, and storage services in Pennsylvania, West Virginia, and Ohio. The company owns, operates, acquires, and develops midstream assets in the Appalachian Basin. The company also owned approximately 300 miles of high pressure gathering lines and 1,500 miles of federal energy regulatory commission (FERC) regulated low pressure gathering lines; and approximately 950 miles of FERC regulated interstate pipelines.

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Earnings History for EQT Midstream Partners (NYSE:EQM)

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