Wall Street brokerages predict that EQT Midstream Partners LP (NYSE:EQM) will post $355.00 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for EQT Midstream Partners’ earnings. The lowest sales estimate is $328.90 million and the highest is $374.90 million. EQT Midstream Partners reported sales of $207.19 million during the same quarter last year, which indicates a positive year over year growth rate of 71.3%. The business is expected to issue its next quarterly earnings report on Thursday, October 25th.

On average, analysts expect that EQT Midstream Partners will report full year sales of $1.22 billion for the current year, with estimates ranging from $1.15 billion to $1.27 billion. For the next fiscal year, analysts forecast that the firm will post sales of $1.67 billion per share, with estimates ranging from $1.54 billion to $1.81 billion. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for EQT Midstream Partners.

EQT Midstream Partners (NYSE:EQM) last issued its quarterly earnings data on Thursday, July 26th. The pipeline company reported $1.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.29). The company had revenue of $269.76 million during the quarter, compared to the consensus estimate of $247.61 million. EQT Midstream Partners had a net margin of 63.76% and a return on equity of 26.66%. EQT Midstream Partners’s revenue for the quarter was up 37.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.27 EPS.

Several equities analysts have recently issued reports on EQM shares. Royal Bank of Canada reaffirmed a “hold” rating and set a $61.00 price target on shares of EQT Midstream Partners in a research note on Friday, July 27th. Wells Fargo & Co downgraded shares of EQT Midstream Partners from an “outperform” rating to a “market perform” rating and raised their price target for the company from $69.00 to $77.00 in a research note on Monday, July 30th. Morgan Stanley dropped their price target on shares of EQT Midstream Partners from $71.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, July 13th. Zacks Investment Research downgraded shares of EQT Midstream Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, July 4th. Finally, Bank of America dropped their price target on shares of EQT Midstream Partners from $66.00 to $64.00 and set a “neutral” rating for the company in a research note on Friday, July 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. EQT Midstream Partners has a consensus rating of “Buy” and a consensus price target of $63.62.

Several hedge funds have recently added to or reduced their stakes in EQM. Wells Fargo & Company MN increased its position in shares of EQT Midstream Partners by 10.2% during the first quarter. Wells Fargo & Company MN now owns 177,827 shares of the pipeline company’s stock worth $10,497,000 after buying an additional 16,526 shares during the period. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of EQT Midstream Partners during the first quarter worth $649,000. State of New Jersey Common Pension Fund D increased its position in shares of EQT Midstream Partners by 10.9% during the first quarter. State of New Jersey Common Pension Fund D now owns 161,400 shares of the pipeline company’s stock worth $9,527,000 after buying an additional 15,900 shares during the period. Rockefeller Capital Management L.P. acquired a new stake in shares of EQT Midstream Partners during the first quarter worth $157,000. Finally, JPMorgan Chase & Co. increased its position in shares of EQT Midstream Partners by 45.9% during the first quarter. JPMorgan Chase & Co. now owns 1,954,024 shares of the pipeline company’s stock worth $115,347,000 after buying an additional 614,562 shares during the period. 65.77% of the stock is owned by hedge funds and other institutional investors.

NYSE:EQM traded down $0.07 on Monday, hitting $56.16. The company had a trading volume of 270,800 shares, compared to its average volume of 578,594. The company has a market cap of $4.87 billion, a price-to-earnings ratio of 10.84 and a beta of 1.06. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.42 and a quick ratio of 1.42. EQT Midstream Partners has a 52 week low of $48.91 and a 52 week high of $77.97.

About EQT Midstream Partners

EQT Midstream Partners, LP provides natural gas gathering, transmission, and storage services in Pennsylvania, West Virginia, and Ohio. The company owns, operates, acquires, and develops midstream assets in the Appalachian Basin. The company also owned approximately 300 miles of high pressure gathering lines and 1,500 miles of federal energy regulatory commission (FERC) regulated low pressure gathering lines; and approximately 950 miles of FERC regulated interstate pipelines.

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