EQM Midstream Partners LP (EQM) Stake Lessened by Spirit of America Management Corp NY

Spirit of America Management Corp NY trimmed its holdings in EQM Midstream Partners LP (NYSE:EQM) by 16.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 240,553 shares of the pipeline company’s stock after selling 45,700 shares during the period. EQM Midstream Partners accounts for about 1.6% of Spirit of America Management Corp NY’s portfolio, making the stock its 19th biggest holding. Spirit of America Management Corp NY owned approximately 0.20% of EQM Midstream Partners worth $11,106,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in EQM. Tortoise Capital Advisors L.L.C. lifted its position in shares of EQM Midstream Partners by 47.4% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 15,016,757 shares of the pipeline company’s stock valued at $792,584,000 after buying an additional 4,827,975 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of EQM Midstream Partners by 10.3% in the third quarter. Bank of New York Mellon Corp now owns 17,842 shares of the pipeline company’s stock valued at $942,000 after buying an additional 1,664 shares during the last quarter. BlackRock Inc. lifted its position in shares of EQM Midstream Partners by 31.6% in the third quarter. BlackRock Inc. now owns 532,364 shares of the pipeline company’s stock valued at $28,098,000 after buying an additional 127,911 shares during the last quarter. FMR LLC lifted its position in shares of EQM Midstream Partners by 1,083.1% in the third quarter. FMR LLC now owns 88,735 shares of the pipeline company’s stock valued at $4,683,000 after buying an additional 81,235 shares during the last quarter. Finally, Putnam Investments LLC lifted its position in shares of EQM Midstream Partners by 7.1% in the third quarter. Putnam Investments LLC now owns 28,050 shares of the pipeline company’s stock valued at $1,480,000 after buying an additional 1,850 shares during the last quarter. 66.69% of the stock is owned by institutional investors.

EQM Midstream Partners stock traded down $0.06 during mid-day trading on Wednesday, reaching $45.60. 1,923 shares of the company were exchanged, compared to its average volume of 425,343. EQM Midstream Partners LP has a 12 month low of $38.24 and a 12 month high of $63.73. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a market cap of $5.48 billion, a PE ratio of 8.98 and a beta of 1.13.

EQM Midstream Partners (NYSE:EQM) last posted its quarterly earnings data on Thursday, February 14th. The pipeline company reported ($0.89) EPS for the quarter, missing the Zacks’ consensus estimate of $1.30 by ($2.19). EQM Midstream Partners had a return on equity of 19.63% and a net margin of 36.10%. The company had revenue of $384.80 million for the quarter, compared to the consensus estimate of $380.81 million. During the same quarter last year, the business earned $1.28 EPS. EQM Midstream Partners’s revenue was up 31.6% on a year-over-year basis. Sell-side analysts expect that EQM Midstream Partners LP will post 4.35 earnings per share for the current fiscal year.

A number of equities analysts have recently weighed in on the company. Zacks Investment Research lowered EQM Midstream Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday. JPMorgan Chase & Co. lowered EQM Midstream Partners from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $55.00 to $54.00 in a research note on Wednesday, February 6th. US Capital Advisors lowered EQM Midstream Partners from an “overweight” rating to a “hold” rating in a research note on Friday, January 4th. Mitsubishi UFJ Financial Group lowered EQM Midstream Partners from an “overweight” rating to a “neutral” rating in a research note on Thursday, February 14th. Finally, Barclays lowered their target price on EQM Midstream Partners from $48.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 6th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $56.87.

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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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Institutional Ownership by Quarter for EQM Midstream Partners (NYSE:EQM)

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