Tiedemann Wealth Management LLC lifted its holdings in EQT Midstream Partners LP (NYSE:EQM) by 17.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 216,768 shares of the pipeline company’s stock after buying an additional 31,764 shares during the quarter. EQT Midstream Partners comprises 1.4% of Tiedemann Wealth Management LLC’s portfolio, making the stock its 13th biggest holding. Tiedemann Wealth Management LLC owned about 0.27% of EQT Midstream Partners worth $11,871,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in EQM. Alps Advisors Inc. raised its holdings in shares of EQT Midstream Partners by 11.2% in the third quarter. Alps Advisors Inc. now owns 4,761,137 shares of the pipeline company’s stock valued at $356,942,000 after buying an additional 480,995 shares during the last quarter. Marshall Wace North America L.P. raised its holdings in EQT Midstream Partners by 282.2% during the 2nd quarter. Marshall Wace North America L.P. now owns 488,401 shares of the pipeline company’s stock worth $36,630,000 after purchasing an additional 360,601 shares during the last quarter. Hamlin Capital Management LLC raised its holdings in EQT Midstream Partners by 26.6% during the 2nd quarter. Hamlin Capital Management LLC now owns 1,116,129 shares of the pipeline company’s stock worth $83,297,000 after purchasing an additional 234,542 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in EQT Midstream Partners by 20.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,271,917 shares of the pipeline company’s stock worth $93,817,000 after purchasing an additional 219,261 shares during the last quarter. Finally, Citigroup Inc. raised its holdings in EQT Midstream Partners by 60.0% during the 2nd quarter. Citigroup Inc. now owns 449,721 shares of the pipeline company’s stock worth $33,563,000 after purchasing an additional 168,675 shares during the last quarter. 73.69% of the stock is owned by institutional investors and hedge funds.
EQM has been the subject of several recent research reports. BidaskClub cut EQT Midstream Partners from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 16th. Stifel Nicolaus set a $79.00 price objective on EQT Midstream Partners and gave the stock a “hold” rating in a report on Friday, August 25th. Royal Bank Of Canada reissued a “buy” rating and set a $96.00 price objective on shares of EQT Midstream Partners in a report on Tuesday, October 10th. Seaport Global Securities initiated coverage on EQT Midstream Partners in a report on Tuesday, October 10th. They set a “buy” rating and a $96.00 price objective for the company. Finally, Zacks Investment Research cut EQT Midstream Partners from a “hold” rating to a “strong sell” rating in a report on Monday, October 16th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. EQT Midstream Partners has an average rating of “Hold” and an average price target of $90.83.
EQT Midstream Partners (NYSE:EQM) last posted its earnings results on Thursday, October 26th. The pipeline company reported $1.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.02. The company had revenue of $207.20 million during the quarter, compared to analyst estimates of $205.29 million. EQT Midstream Partners had a return on equity of 25.85% and a net margin of 65.99%. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.23 EPS. equities research analysts predict that EQT Midstream Partners LP will post 5.63 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Friday, November 3rd were given a dividend of $0.98 per share. This is a positive change from EQT Midstream Partners’s previous quarterly dividend of $0.94. This represents a $3.92 annualized dividend and a dividend yield of 5.92%. The ex-dividend date of this dividend was Thursday, November 2nd. EQT Midstream Partners’s payout ratio is presently 75.10%.
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.
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