Zacks Investment Research lowered shares of EQT Midstream Partners LP (NYSE:EQM) from a buy rating to a hold rating in a research report released on Monday morning.

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. “

Several other brokerages have also 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. Stifel Nicolaus upped their price objective on shares of EQT Midstream Partners from $78.00 to $82.00 and gave the stock a hold rating in a report on Friday, October 14th. Morgan Stanley reaffirmed a hold rating and set a $83.00 price objective on shares of EQT Midstream Partners in a report on Wednesday, September 21st. Finally, Deutsche Bank AG reaffirmed a buy rating on shares of EQT Midstream Partners in a report on Friday, October 14th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. EQT Midstream Partners presently has a consensus rating of Hold and an average target price of $83.81.

Analyst Recommendations for EQT Midstream Partners (NYSE:EQM)

Shares of EQT Midstream Partners (NYSE:EQM) opened at 73.77 on Monday. The company’s 50 day moving average is $74.76 and its 200-day moving average is $76.46. EQT Midstream Partners has a 12 month low of $56.52 and a 12 month high of $80.63. The company has a market cap of $5.94 billion, a P/E ratio of 14.34 and a beta of 0.94.

EQT Midstream Partners (NYSE:EQM) last announced its quarterly earnings results on Thursday, October 27th. The company reported $1.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.05. The business had revenue of $170.84 million for the quarter, compared to analyst estimates of $176.24 million. During the same quarter last year, the company earned $1.12 EPS. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. Analysts expect that EQT Midstream Partners will post $5.20 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Friday, November 4th were given a dividend of $0.815 per share. The ex-dividend date of this dividend was Wednesday, November 2nd. This represents a $3.26 dividend on an annualized basis and a dividend yield of 4.42%. This is a boost from EQT Midstream Partners’s previous quarterly dividend of $0.78.

Several large investors have recently made changes to their positions in the company. Brookfield Asset Management Inc. boosted its stake in shares of EQT Midstream Partners by 2.7% in the third quarter. Brookfield Asset Management Inc. now owns 413,691 shares of the company’s stock worth $31,519,000 after buying an additional 11,000 shares during the period. Credit Suisse AG boosted its stake in shares of EQT Midstream Partners by 128.4% in the third quarter. Credit Suisse AG now owns 1,247,394 shares of the company’s stock worth $95,038,000 after buying an additional 701,359 shares during the period. Jane Street Group LLC boosted its stake in shares of EQT Midstream Partners by 31.8% in the third quarter. Jane Street Group LLC now owns 3,386 shares of the company’s stock worth $258,000 after buying an additional 817 shares during the period. Horizon Investment Services LLC boosted its stake in shares of EQT Midstream Partners by 444.7% in the third quarter. Horizon Investment Services LLC now owns 46,553 shares of the company’s stock worth $3,547,000 after buying an additional 38,006 shares during the period. Finally, Virtus ETF Advisers LLC boosted its stake in shares of EQT Midstream Partners by 50.5% in the third quarter. Virtus ETF Advisers LLC now owns 62,081 shares of the company’s stock worth $4,730,000 after buying an additional 20,829 shares during the period.

EQT Midstream Partners Company Profile

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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