EQT Midstream Partners, LP (EQM) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS
EQT Midstream Partners, LP (NYSE:EQM) released its quarterly earnings results on Thursday. The pipeline company reported $1.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.02, MarketWatch Earnings reports. EQT Midstream Partners, had a net margin of 66.99% and a return on equity of 25.61%. The firm had revenue of $207.20 million during the quarter, compared to analyst estimates of $205.29 million. During the same quarter in the prior year, the firm earned $1.23 EPS. The business’s revenue for the quarter was up 17.2% compared to the same quarter last year.
Shares of EQT Midstream Partners, (EQM) traded up 1.23% on Thursday, hitting $70.71. The company had a trading volume of 217,316 shares. EQT Midstream Partners, has a 52 week low of $68.76 and a 52 week high of $82.99. The stock’s 50-day moving average is $74.50 and its 200 day moving average is $74.82. The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of 13.63 and a beta of 0.88.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Friday, November 3rd will be paid a dividend of $0.98 per share. The ex-dividend date is Thursday, November 2nd. This is an increase from EQT Midstream Partners,’s previous quarterly dividend of $0.94. This represents a $3.92 dividend on an annualized basis and a dividend yield of 5.61%. EQT Midstream Partners,’s payout ratio is 72.34%.
EQM has been the subject of several research reports. TheStreet raised shares of EQT Midstream Partners, from a “c+” rating to a “b-” rating in a research report on Wednesday, July 19th. Scotiabank set a $94.00 price objective on EQT Midstream Partners, and gave the company a “hold” rating in a research note on Saturday, July 22nd. Royal Bank Of Canada reiterated a “buy” rating and set a $96.00 price objective on shares of EQT Midstream Partners, in a research note on Tuesday, October 10th. Seaport Global Securities started coverage on EQT Midstream Partners, in a research note on Tuesday, October 10th. They set a “buy” rating and a $96.00 price objective for the company. Finally, BidaskClub upgraded EQT Midstream Partners, from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $91.50.
About EQT Midstream Partners,
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.
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