EQM Midstream Partners’ (EQM) “Equal Weight” Rating Reiterated at Barclays

Barclays restated their equal weight rating on shares of EQM Midstream Partners (NYSE:EQM) in a research report sent to investors on Friday morning, Marketbeat.com reports. The firm currently has a $48.00 target price on the pipeline company’s stock, down from their prior target price of $59.00.

Several other research analysts also recently issued reports on the stock. Stifel Nicolaus downgraded shares of EQM Midstream Partners from a buy rating to a hold rating and lowered their price target for the stock from $56.00 to $51.00 in a report on Monday, December 3rd. Citigroup upgraded shares of EQM Midstream Partners from a neutral rating to a buy rating and lowered their price target for the stock from $82.00 to $58.00 in a report on Thursday, November 29th. Wolfe Research upgraded shares of EQM Midstream Partners from a peer perform rating to an outperform rating and set a $66.00 price target for the company in a report on Tuesday, November 20th. Morgan Stanley lowered their price target on shares of EQM Midstream Partners from $55.00 to $54.00 and set a buy rating for the company in a report on Wednesday, November 14th. Finally, Credit Suisse Group set a $52.00 price target on shares of EQM Midstream Partners and gave the stock a hold rating in a report on Tuesday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. EQM Midstream Partners presently has a consensus rating of Hold and an average price target of $59.00.

Shares of NYSE:EQM traded up $0.10 during trading on Friday, hitting $46.22. 753,588 shares of the company were exchanged, compared to its average volume of 868,174. The company has a market capitalization of $5.62 billion, a PE ratio of 8.91 and a beta of 1.13. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.34 and a current ratio of 0.34. EQM Midstream Partners has a 1-year low of $42.87 and a 1-year high of $77.97.

EQM Midstream Partners (NYSE:EQM) last announced its quarterly earnings results on Thursday, October 25th. The pipeline company reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.07). The company had revenue of $364.58 million for the quarter, compared to analyst estimates of $356.99 million. EQM Midstream Partners had a return on equity of 22.30% and a net margin of 60.71%. On average, equities analysts forecast that EQM Midstream Partners will post 6.03 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Investors of record on Friday, November 2nd were issued a $1.115 dividend. This represents a $4.46 dividend on an annualized basis and a yield of 9.65%. This is an increase from EQM Midstream Partners’s previous quarterly dividend of $1.09. The ex-dividend date was Thursday, November 1st. EQM Midstream Partners’s dividend payout ratio is presently 85.93%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Gryphon Financial Partners LLC increased its holdings in EQM Midstream Partners by 100.2% in the third quarter. Gryphon Financial Partners LLC now owns 3,791 shares of the pipeline company’s stock valued at $200,000 after purchasing an additional 1,897 shares during the period. Gratus Capital LLC acquired a new stake in EQM Midstream Partners during the 3rd quarter worth about $203,000. Cambridge Investment Research Advisors Inc. acquired a new stake in EQM Midstream Partners during the 3rd quarter worth about $244,000. Keybank National Association OH grew its holdings in EQM Midstream Partners by 26.2% during the 2nd quarter. Keybank National Association OH now owns 4,753 shares of the pipeline company’s stock worth $245,000 after acquiring an additional 987 shares during the period. Finally, Berman Capital Advisors LLC acquired a new stake in EQM Midstream Partners during the 3rd quarter worth about $261,000. Institutional investors and hedge funds own 68.68% of the company’s stock.

EQM Midstream Partners Company Profile

EQM 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 owns 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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Analyst Recommendations for EQM Midstream Partners (NYSE:EQM)

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