First Trust Advisors LP reduced its stake in EQT Midstream Partners, LP (NYSE:EQM) by 24.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 80,909 shares of the pipeline company’s stock after selling 26,793 shares during the period. First Trust Advisors LP owned about 0.10% of EQT Midstream Partners, worth $6,038,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. IFP Advisors Inc increased its stake in EQT Midstream Partners, by 120.5% in the second quarter. IFP Advisors Inc now owns 1,808 shares of the pipeline company’s stock valued at $135,000 after buying an additional 988 shares in the last quarter. Hirtle Callaghan & Co LLC purchased a new position in shares of EQT Midstream Partners, during the first quarter valued at approximately $138,000. V Wealth Management LLC purchased a new position in shares of EQT Midstream Partners, during the second quarter valued at approximately $178,000. Round Table Services LLC increased its position in shares of EQT Midstream Partners, by 23.6% in the second quarter. Round Table Services LLC now owns 3,925 shares of the pipeline company’s stock valued at $293,000 after buying an additional 750 shares during the period. Finally, Covenant Asset Management LLC increased its position in shares of EQT Midstream Partners, by 5.9% in the second quarter. Covenant Asset Management LLC now owns 3,970 shares of the pipeline company’s stock valued at $296,000 after buying an additional 220 shares during the period. 73.44% of the stock is owned by institutional investors and hedge funds.

EQT Midstream Partners, LP (NYSE EQM) opened at 74.72 on Thursday. The stock has a market cap of $6.02 billion, a PE ratio of 14.40 and a beta of 0.89. EQT Midstream Partners, LP has a 12 month low of $69.20 and a 12 month high of $82.99. The company’s 50 day moving average is $75.40 and its 200 day moving average is $76.06.

EQT Midstream Partners, (NYSE:EQM) last issued its earnings results on Thursday, July 27th. The pipeline company reported $1.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by $0.04. The firm had revenue of $199 million during the quarter, compared to analyst estimates of $195 million. EQT Midstream Partners, had a net margin of 66.99% and a return on equity of 25.61%. The firm’s revenue was up 11.8% compared to the same quarter last year. During the same period last year, the business earned $1.27 EPS. On average, analysts anticipate that EQT Midstream Partners, LP will post $5.50 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Friday, August 4th were issued a $0.935 dividend. This is a boost from EQT Midstream Partners,’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $3.74 annualized dividend and a yield of 5.01%. EQT Midstream Partners,’s dividend payout ratio (DPR) is 72.34%.

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EQM has been the subject of several recent analyst reports. TheStreet raised shares of EQT Midstream Partners, from a “c+” rating to a “b-” rating in a research note on Wednesday, July 19th. ValuEngine downgraded shares of EQT Midstream Partners, from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Stifel Nicolaus reaffirmed a “hold” rating on shares of EQT Midstream Partners, in a research note on Friday, June 23rd. Scotiabank set a $94.00 price objective on shares of EQT Midstream Partners, and gave the company a “hold” rating in a research note on Saturday, July 22nd. Finally, BidaskClub raised shares of EQT Midstream Partners, from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $89.50.

EQT Midstream Partners, Company Profile

EQT Midstream Partners, LP (EQM) owns, operates, acquires and develops midstream assets in the Appalachian Basin. The Company’s segments include Gathering and Transmission. The Gathering segment primarily includes high pressure gathering lines and the Federal Energy Regulatory Commission (FERC)-regulated low pressure gathering system.

Institutional Ownership by Quarter for EQT Midstream Partners, (NYSE:EQM)

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