EQM Midstream Partners LP (EQM) Expected to Post Earnings of $1.10 Per Share

Equities analysts forecast that EQM Midstream Partners LP (NYSE:EQM) will announce $1.10 earnings per share for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for EQM Midstream Partners’ earnings, with the highest EPS estimate coming in at $1.40 and the lowest estimate coming in at $0.96. EQM Midstream Partners reported earnings per share of $1.61 in the same quarter last year, which would indicate a negative year-over-year growth rate of 31.7%. The business is scheduled to announce its next earnings results on Thursday, April 25th.

According to Zacks, analysts expect that EQM Midstream Partners will report full-year earnings of $4.30 per share for the current fiscal year, with EPS estimates ranging from $3.75 to $4.77. For the next fiscal year, analysts anticipate that the business will report earnings of $5.04 per share, with EPS estimates ranging from $4.12 to $6.18. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that follow EQM Midstream Partners.

EQM Midstream Partners (NYSE:EQM) last released its quarterly earnings data on Thursday, February 14th. The pipeline company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($2.19). EQM Midstream Partners had a return on equity of 19.63% and a net margin of 36.10%. The business had revenue of $384.80 million for the quarter, compared to analysts’ expectations of $380.81 million. During the same quarter in the prior year, the firm earned $1.28 earnings per share. EQM Midstream Partners’s quarterly revenue was up 31.6% compared to the same quarter last year.

Several brokerages have recently weighed in on EQM. Barclays restated an “equal weight” rating and issued a $48.00 target price (down from $59.00) on shares of EQM Midstream Partners in a research note on Friday, December 7th. JPMorgan Chase & Co. downgraded shares of EQM Midstream Partners from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $55.00 to $54.00 in a research note on Wednesday, February 6th. US Capital Advisors downgraded shares of EQM Midstream Partners from an “overweight” rating to a “hold” rating in a research note on Friday, January 4th. Mitsubishi UFJ Financial Group downgraded shares of EQM Midstream Partners from an “overweight” rating to a “neutral” rating in a research note on Thursday, February 14th. Finally, Goldman Sachs Group downgraded shares of EQM Midstream Partners from a “buy” rating to a “neutral” rating and set a $49.00 target price for the company. in a research note on Sunday, December 16th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $57.81.

A number of hedge funds and other institutional investors have recently bought and sold shares of EQM. Russell Investments Group Ltd. bought a new position in EQM Midstream Partners during the 3rd quarter valued at $1,341,000. Wells Fargo & Company MN boosted its stake in EQM Midstream Partners by 123.7% during the 3rd quarter. Wells Fargo & Company MN now owns 396,578 shares of the pipeline company’s stock valued at $20,931,000 after acquiring an additional 219,329 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in EQM Midstream Partners during the 3rd quarter valued at $244,000. SG Americas Securities LLC bought a new position in EQM Midstream Partners during the 3rd quarter valued at $1,444,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in EQM Midstream Partners by 400.0% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 20,000 shares of the pipeline company’s stock valued at $1,056,000 after acquiring an additional 16,000 shares during the last quarter. Hedge funds and other institutional investors own 67.23% of the company’s stock.

EQM opened at $47.21 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.85. EQM Midstream Partners has a 52-week low of $38.24 and a 52-week high of $63.73. The company has a market cap of $5.72 billion, a price-to-earnings ratio of 9.31 and a beta of 1.13.

About EQM Midstream Partners

EQM Midstream Partners, LP owns, operates, acquires, and develops midstream assets in the Appalachian Basin. It operates through three segments: Gathering, Transmission, and Water. As of December 31, 2018, the company owned approximately 700 miles of high-pressure gathering lines and 1,500 miles of Federal Energy Regulatory Commission (FERC) regulated low-pressure gathering lines; approximately 950 miles of FERC regulated interstate pipelines; and approximately 160 miles of pipelines.

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Earnings History and Estimates for EQM Midstream Partners (NYSE:EQM)

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