Mitsubishi UFJ Financial Group Reiterates Overweight Rating for EQT Midstream Partners LP (EQM)

Mitsubishi UFJ Financial Group restated their overweight rating on shares of EQT Midstream Partners LP (NYSE:EQM) in a research note issued to investors on Thursday.

A number of other brokerages have also issued reports on EQM. Morgan Stanley increased their target price on shares of EQT Midstream Partners from $86.00 to $87.00 and gave the company an overweight rating in a research report on Friday, July 14th. Scotiabank set a $94.00 target price on shares of EQT Midstream Partners and gave the company a hold rating in a research report on Saturday, July 22nd. Zacks Investment Research lowered shares of EQT Midstream Partners from a hold rating to a strong sell rating in a research report on Monday, October 16th. BidaskClub lowered shares of EQT Midstream Partners from a hold rating to a sell rating in a research report on Wednesday, July 12th. Finally, Stifel Nicolaus set a $79.00 target price on shares of EQT Midstream Partners and gave the company a hold rating in a research report on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The company has an average rating of Hold and an average price target of $91.50.

Shares of EQT Midstream Partners (NYSE EQM) opened at 71.87 on Thursday. EQT Midstream Partners has a 12-month low of $68.76 and a 12-month high of $82.99. The firm’s 50-day moving average is $74.27 and its 200-day moving average is $74.74. The firm has a market capitalization of $5.79 billion, a price-to-earnings ratio of 13.85 and a beta of 0.88.

EQT Midstream Partners (NYSE:EQM) last announced its earnings results on Thursday, October 26th. The pipeline company reported $1.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.02. The firm had revenue of $207.20 million during the quarter, compared to analyst estimates of $205.29 million. EQT Midstream Partners had a net margin of 65.99% and a return on equity of 26.08%. EQT Midstream Partners’s revenue was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.23 EPS. Equities research analysts forecast that EQT Midstream Partners will post $5.52 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Friday, November 3rd will be given a dividend of $0.98 per share. This is a positive change from EQT Midstream Partners’s previous quarterly dividend of $0.94. The ex-dividend date is Thursday, November 2nd. This represents a $3.92 annualized dividend and a dividend yield of 5.45%. EQT Midstream Partners’s dividend payout ratio (DPR) is 71.65%.

Large investors have recently bought and sold shares of the company. IFP Advisors Inc boosted its position in shares of EQT Midstream Partners by 120.5% during the 2nd quarter. IFP Advisors Inc now owns 1,808 shares of the pipeline company’s stock valued at $135,000 after purchasing an additional 988 shares in the last quarter. V Wealth Management LLC bought a new position in shares of EQT Midstream Partners during the 2nd quarter valued at about $178,000. Saratoga Research & Investment Management bought a new position in shares of EQT Midstream Partners during the 3rd quarter valued at about $186,000. A. D. Beadell Investment Counsel Inc. bought a new position in shares of EQT Midstream Partners during the 3rd quarter valued at about $203,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of EQT Midstream Partners by 49.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,613 shares of the pipeline company’s stock valued at $269,000 after purchasing an additional 1,198 shares in the last quarter. Institutional investors own 73.25% of the company’s stock.

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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