EQM Midstream Partners (NYSE:EQM) Price Target Cut to $43.00

EQM Midstream Partners (NYSE:EQM) had its price target lowered by equities researchers at Credit Suisse Group from $45.00 to $43.00 in a research report issued on Thursday, BenzingaRatingsTable reports. The brokerage currently has a “neutral” rating on the pipeline company’s stock. Credit Suisse Group’s target price points to a potential upside of 17.49% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Zacks Investment Research upgraded EQM Midstream Partners from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research report on Monday, July 29th. Citigroup set a $52.00 price objective on EQM Midstream Partners and gave the company a “buy” rating in a research report on Monday, April 22nd. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $48.92.

NYSE EQM traded down $0.60 on Thursday, hitting $36.60. 622,069 shares of the company traded hands, compared to its average volume of 626,879. The firm has a market cap of $7.99 billion, a P/E ratio of 7.22 and a beta of 0.97. The company has a quick ratio of 0.69, a current ratio of 0.43 and a debt-to-equity ratio of 0.92. The business has a 50 day simple moving average of $42.65. EQM Midstream Partners has a 52-week low of $36.06 and a 52-week high of $58.00.

Several institutional investors have recently made changes to their positions in EQM. Employers Holdings Inc. purchased a new stake in EQM Midstream Partners during the second quarter worth $713,000. Summit Financial LLC lifted its holdings in EQM Midstream Partners by 22.3% during the second quarter. Summit Financial LLC now owns 13,239 shares of the pipeline company’s stock worth $592,000 after buying an additional 2,418 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in EQM Midstream Partners by 6.6% during the second quarter. CIBC Private Wealth Group LLC now owns 1,977,712 shares of the pipeline company’s stock worth $88,365,000 after buying an additional 122,814 shares during the period. Lee Financial Co purchased a new stake in EQM Midstream Partners during the second quarter worth $92,000. Finally, Northern Oak Wealth Management Inc. lifted its holdings in EQM Midstream Partners by 15.2% during the second quarter. Northern Oak Wealth Management Inc. now owns 3,800 shares of the pipeline company’s stock worth $170,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 38.14% of the company’s stock.

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.

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Analyst Recommendations for EQM Midstream Partners (NYSE:EQM)

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