US Capital Advisors Weighs in on EQT Midstream Partners LP’s FY2016 Earnings (EQM)
EQT Midstream Partners LP (NYSE:EQM) – Equities researchers at US Capital Advisors boosted their FY2016 earnings estimates for shares of EQT Midstream Partners in a research report issued on Friday. US Capital Advisors analyst B. Followill now expects that the firm will earn $5.08 per share for the year, up from their prior estimate of $4.97. US Capital Advisors also issued estimates for EQT Midstream Partners’ Q4 2016 earnings at $1.19 EPS, Q1 2017 earnings at $1.25 EPS, Q2 2017 earnings at $1.28 EPS, Q3 2017 earnings at $1.40 EPS, FY2017 earnings at $5.40 EPS and FY2018 earnings at $5.53 EPS.
EQT Midstream Partners (NYSE:EQM) last issued its quarterly earnings results on Thursday, October 27th. The company reported $1.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.05. The company earned $170.84 million during the quarter, compared to analyst estimates of $176.24 million. The business’s revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.12 EPS.
Several other analysts also recently issued reports on the company. Zacks Investment Research downgraded EQT Midstream Partners from a “buy” rating to a “hold” rating in a report on Monday. Deutsche Bank AG reissued a “buy” rating on shares of EQT Midstream Partners in a research report on Friday, October 14th. Stifel Nicolaus upped their price objective on shares of EQT Midstream Partners from $78.00 to $82.00 and gave the company a “hold” rating in a research report on Friday, October 14th. Morgan Stanley reissued a “hold” rating and issued a $83.00 price objective on shares of EQT Midstream Partners in a research report on Wednesday, September 21st. Finally, Credit Suisse Group AG reissued a “neutral” rating on shares of EQT Midstream Partners in a research report on Tuesday, August 16th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. EQT Midstream Partners presently has an average rating of “Hold” and a consensus price target of $83.81.
EQT Midstream Partners (NYSE:EQM) opened at 74.09 on Monday. EQT Midstream Partners has a 12 month low of $56.52 and a 12 month high of $80.63. The firm has a market cap of $5.97 billion, a PE ratio of 14.41 and a beta of 0.94. The company has a 50-day moving average price of $74.71 and a 200 day moving average price of $76.44.
A number of institutional investors have recently modified their holdings of EQM. Babson Capital Management LLC boosted its position in shares of EQT Midstream Partners by 8.8% in the first quarter. Babson Capital Management LLC now owns 27,100 shares of the company’s stock worth $2,017,000 after buying an additional 2,200 shares in the last quarter. Energy Income Partners LLC boosted its position in shares of 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 worth $149,196,000 after buying an additional 82,235 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of EQT Midstream Partners by 2.0% in the second quarter. BNP Paribas Arbitrage SA now owns 110,298 shares of the company’s stock worth $8,857,000 after buying an additional 2,196 shares in the last quarter. Hollencrest Securities LLC acquired a new position in shares of EQT Midstream Partners during the second quarter worth about $305,000. Finally, Americafirst Capital Management LLC acquired a new position in shares of EQT Midstream Partners during the second quarter worth about $130,000.
The business also recently declared a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Friday, November 4th were given a dividend of $0.815 per share. This is a boost from EQT Midstream Partners’s previous quarterly dividend of $0.78. The ex-dividend date was Wednesday, November 2nd. This represents a $3.26 annualized dividend and a dividend yield of 4.40%.
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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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