EQT Midstream Partners LP (EQM) Stock Rating Upgraded by Zacks Investment Research
EQT Midstream Partners LP (NYSE:EQM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage presently has a $85.00 price target on the stock. Zacks Investment Research’s target price suggests a potential upside of 13.05% from the company’s current price.
According to Zacks, “EQT Midstream Partners, LP is formed to own, operate, acquire and develop midstream assets in the Appalachian Basin. The Company provides substantially all of its natural gas transmission, storage and gathering services under contracts with fixed reservation and/or usage fees. It operates primarily in the Marcellus Shale area of southern Pennsylvania and northern West Virginia. EQT Midstream Partners, LP is based in Pittsburgh, Pennsylvania. “
EQM has been the subject of a number of other reports. Morgan Stanley reissued a “hold” rating and issued a $83.00 price objective on shares of EQT Midstream Partners in a research note on Wednesday, September 21st. Credit Suisse Group AG restated a “neutral” rating on shares of EQT Midstream Partners in a research report on Tuesday, August 16th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. EQT Midstream Partners has an average rating of “Buy” and an average price target of $89.75.
EQT Midstream Partners (NYSE:EQM) opened at 75.19 on Wednesday. The stock has a market cap of $6.06 billion, a PE ratio of 14.87 and a beta of 0.94. The company has a 50-day moving average of $77.64 and a 200-day moving average of $76.37. EQT Midstream Partners has a 12 month low of $56.52 and a 12 month high of $80.63.
EQT Midstream Partners (NYSE:EQM) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.12. The firm earned $172 million during the quarter, compared to analysts’ expectations of $172.47 million. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same period last year, the company earned $1.12 earnings per share. On average, equities analysts forecast that EQT Midstream Partners will post $5.06 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the stock. Conning Inc. raised its position in EQT Midstream Partners by 0.3% in the second quarter. Conning Inc. now owns 38,380 shares of the company’s stock valued at $3,082,000 after buying an additional 112 shares during the period. Hamlin Capital Management LLC purchased a new stake in EQT Midstream Partners during the second quarter valued at about $42,253,000. Energy Income Partners LLC raised its stake in EQT Midstream Partners by 4.3% in the first quarter. Energy Income Partners LLC now owns 2,004,518 shares of the company’s stock valued at $149,196,000 after buying an additional 82,235 shares during the period. Glenmede Trust Co. NA raised its stake in EQT Midstream Partners by 83.4% in the second quarter. Glenmede Trust Co. NA now owns 39,405 shares of the company’s stock valued at $3,163,000 after buying an additional 17,915 shares during the period. Finally, Americafirst Capital Management LLC purchased a new stake in EQT Midstream Partners during the second quarter valued at about $130,000.
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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