EQT Midstream Partners LP (EQM) Expected to Announce Quarterly Sales of $233.40 Million

Wall Street brokerages forecast that EQT Midstream Partners LP (NYSE:EQM) will report $233.40 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for EQT Midstream Partners’ earnings, with the lowest sales estimate coming in at $230.80 million and the highest estimate coming in at $237.41 million. EQT Midstream Partners posted sales of $203.43 million in the same quarter last year, which suggests a positive year over year growth rate of 14.7%. The company is expected to issue its next quarterly earnings results on Thursday, April 26th.

According to Zacks, analysts expect that EQT Midstream Partners will report full-year sales of $233.40 million for the current fiscal year, with estimates ranging from $903.00 million to $1.09 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.45 billion per share, with estimates ranging from $1.16 billion to $1.96 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover EQT Midstream Partners.

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EQT Midstream Partners (NYSE:EQM) last posted its quarterly earnings data on Thursday, February 15th. The pipeline company reported $1.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.55 by ($0.27). EQT Midstream Partners had a net margin of 63.33% and a return on equity of 25.24%. The company had revenue of $224.51 million for the quarter, compared to analyst estimates of $226.22 million. During the same quarter last year, the company earned $1.31 EPS. The business’s revenue was up 15.1% compared to the same quarter last year.

EQM has been the topic of several research reports. US Capital Advisors downgraded shares of EQT Midstream Partners from a “buy” rating to a “buy” rating in a report on Friday, November 17th. Stifel Nicolaus set a $90.00 price target on shares of EQT Midstream Partners and gave the stock a “buy” rating in a report on Wednesday, January 17th. Bank of America initiated coverage on shares of EQT Midstream Partners in a report on Tuesday, January 9th. They issued a “buy” rating and a $89.00 price target on the stock. ValuEngine downgraded shares of EQT Midstream Partners from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Zacks Investment Research upgraded shares of EQT Midstream Partners from a “sell” rating to a “hold” rating in a report on Monday, February 19th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $83.60.

A number of institutional investors have recently added to or reduced their stakes in EQM. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in EQT Midstream Partners in the 4th quarter worth approximately $115,000. Captrust Financial Advisors purchased a new stake in EQT Midstream Partners in the 4th quarter worth approximately $122,000. Stuart Chaussee & Associates Inc. purchased a new stake in EQT Midstream Partners in the 4th quarter worth approximately $181,000. Advisory Services Network LLC boosted its position in EQT Midstream Partners by 95.9% in the 4th quarter. Advisory Services Network LLC now owns 2,600 shares of the pipeline company’s stock worth $190,000 after purchasing an additional 1,273 shares in the last quarter. Finally, CIBC Asset Management Inc purchased a new stake in EQT Midstream Partners in the 3rd quarter worth approximately $204,000. Institutional investors and hedge funds own 71.42% of the company’s stock.

Shares of EQT Midstream Partners (NYSE:EQM) traded up $1.44 during trading hours on Friday, reaching $61.66. 566,958 shares of the company traded hands, compared to its average volume of 454,207. EQT Midstream Partners has a one year low of $59.03 and a one year high of $79.93. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.54. The firm has a market cap of $5,074.23, a P/E ratio of 11.88, a PEG ratio of 0.92 and a beta of 0.92.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Friday, February 2nd were given a $1.025 dividend. This represents a $4.10 annualized dividend and a yield of 6.65%. The ex-dividend date was Thursday, February 1st. This is a positive change from EQT Midstream Partners’s previous quarterly dividend of $0.98. EQT Midstream Partners’s dividend payout ratio is currently 79.00%.

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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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