Hamlin Capital Management LLC Buys Shares of 526,193 EQT Midstream Partners LP (EQM)
Hamlin Capital Management LLC bought a new stake in EQT Midstream Partners LP (NYSE:EQM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 526,193 shares of the company’s stock, valued at approximately $42,253,000. EQT Midstream Partners makes up approximately 2.0% of Hamlin Capital Management LLC’s holdings, making the stock its 28th largest position. Hamlin Capital Management LLC owned approximately 0.68% of EQT Midstream Partners at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Silvercrest Asset Management Group LLC increased its position in shares of EQT Midstream Partners by 40.8% in the first quarter. Silvercrest Asset Management Group LLC now owns 146,112 shares of the company’s stock valued at $10,875,000 after buying an additional 42,311 shares in the last quarter. Zions Bancorporation bought a new position in shares of EQT Midstream Partners during the first quarter valued at approximately $113,000. TPH Asset Management LLC increased its position in shares of EQT Midstream Partners by 36.9% in the first quarter. TPH Asset Management LLC now owns 451,809 shares of the company’s stock valued at $32,995,000 after buying an additional 121,722 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of EQT Midstream Partners during the first quarter valued at approximately $2,791,000. Finally, Uniplan Investment Counsel Inc. bought a new position in shares of EQT Midstream Partners during the first quarter valued at approximately $2,550,000.
Shares of EQT Midstream Partners LP (NYSE:EQM) traded up 0.71% during trading on Wednesday, hitting $78.13. The company had a trading volume of 138,893 shares. EQT Midstream Partners LP has a 52 week low of $56.52 and a 52 week high of $80.63. The firm’s 50 day moving average is $78.02 and its 200-day moving average is $76.33. The stock has a market capitalization of $6.30 billion, a P/E ratio of 15.45 and a beta of 0.94.
EQT Midstream Partners (NYSE:EQM) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.12. The company had revenue of $172 million for the quarter, compared to the consensus estimate of $172.47 million. During the same period in the prior year, the firm posted $1.12 EPS. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. Equities research analysts anticipate that EQT Midstream Partners LP will post $5.06 EPS for the current fiscal year.
Several brokerages have commented on EQM. Credit Suisse Group AG restated a “neutral” rating on shares of EQT Midstream Partners in a research note on Tuesday, August 16th. Zacks Investment Research upgraded EQT Midstream Partners from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. Finally, Morgan Stanley restated a “hold” rating and issued a $83.00 target price on shares of EQT Midstream Partners in a research note on Wednesday, September 21st. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $89.85.
About EQT Midstream Partners
EQT Midstream Partners, LP (EQM) owns, operates, acquires and develops midstream assets in the Appalachian Basin. The Company operates through two segments: Transmission and storage, which includes its Federal Energy Regulatory Commission (FERC)-regulated interstate pipeline and storage business, and Gathering, which includes high pressure gathering lines and the FERC-regulated low pressure gathering system.
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