EQT Midstream Partners LP (NYSE:EQM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.

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 topic of several other reports. Deutsche Bank AG restated a “buy” rating on shares of EQT Midstream Partners in a research report on Friday, October 14th. Morgan Stanley restated a “hold” rating and set a $83.00 price objective on shares of EQT Midstream Partners in a research report on Wednesday, September 21st. Stifel Nicolaus raised 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. Finally, Credit Suisse Group AG restated a “neutral” rating on shares of EQT Midstream Partners in a research report on Tuesday, August 16th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently 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 72.09 on Monday. The firm’s 50-day moving average is $74.57 and its 200 day moving average is $76.41. The stock has a market capitalization of $5.81 billion, a price-to-earnings ratio of 14.02 and a beta of 0.94. EQT Midstream Partners has a 52-week low of $56.52 and a 52-week high of $80.63.

EQT Midstream Partners (NYSE:EQM) last announced its quarterly earnings data on Thursday, October 27th. The company reported $1.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.05. The firm had revenue of $170.84 million for the quarter, compared to the consensus estimate of $176.24 million. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.12 earnings per share. Equities analysts expect that EQT Midstream Partners will post $5.22 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 14th. Shareholders of record on Friday, November 4th were paid a $0.815 dividend. This is a boost from EQT Midstream Partners’s previous quarterly dividend of $0.78. This represents a $3.26 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date was Wednesday, November 2nd.

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Several institutional investors have recently modified their holdings of the company. 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 during the last quarter. Hollencrest Securities LLC acquired a new position in shares of EQT Midstream Partners during the second quarter worth approximately $305,000. Americafirst Capital Management LLC acquired a new position in shares of EQT Midstream Partners during the second quarter worth approximately $130,000. Capital One National Association boosted its position in shares of EQT Midstream Partners by 22.5% in the second quarter. Capital One National Association now owns 4,995 shares of the company’s stock worth $401,000 after buying an additional 919 shares during the last quarter. Finally, Botty Investors LLC acquired a new position in shares of EQT Midstream Partners during the second quarter worth approximately $300,000.

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.

5 Day Chart for NYSE:EQM

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