EQM Midstream Partners LP (NYSE:EQM) – Jefferies Financial Group cut their Q4 2019 earnings per share (EPS) estimates for EQM Midstream Partners in a report issued on Tuesday, December 3rd. Jefferies Financial Group analyst C. Sighinolfi now forecasts that the pipeline company will post earnings of $1.08 per share for the quarter, down from their prior estimate of $1.10. Jefferies Financial Group also issued estimates for EQM Midstream Partners’ Q1 2020 earnings at $1.17 EPS, Q2 2020 earnings at $1.11 EPS, Q4 2020 earnings at $1.04 EPS and FY2020 earnings at $4.45 EPS.
EQM Midstream Partners (NYSE:EQM) last released its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.24. The company had revenue of $408.40 million for the quarter, compared to the consensus estimate of $408.98 million. EQM Midstream Partners had a return on equity of 18.34% and a net margin of 18.00%. The company’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.14 earnings per share.
NYSE EQM opened at $22.06 on Thursday. The company has a market capitalization of $4.81 billion, a price-to-earnings ratio of 4.35 and a beta of 0.89. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.10. EQM Midstream Partners has a 1-year low of $21.43 and a 1-year high of $47.66. The stock’s 50 day moving average is $27.46 and its two-hundred day moving average is $35.15.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Tortoise Capital Advisors L.L.C. boosted its holdings in shares of EQM Midstream Partners by 6.7% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 14,760,030 shares of the pipeline company’s stock worth $659,478,000 after acquiring an additional 923,585 shares in the last quarter. Alps Advisors Inc. boosted its holdings in shares of EQM Midstream Partners by 38.0% in the 3rd quarter. Alps Advisors Inc. now owns 9,987,345 shares of the pipeline company’s stock worth $326,586,000 after acquiring an additional 2,749,389 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of EQM Midstream Partners by 7,335.8% in the 2nd quarter. Invesco Ltd. now owns 9,020,819 shares of the pipeline company’s stock worth $403,051,000 after acquiring an additional 8,899,503 shares in the last quarter. Brookfield Asset Management Inc. raised its position in EQM Midstream Partners by 29.5% in the 2nd quarter. Brookfield Asset Management Inc. now owns 3,231,999 shares of the pipeline company’s stock worth $144,406,000 after purchasing an additional 736,941 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in EQM Midstream Partners by 17.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,175,925 shares of the pipeline company’s stock worth $71,152,000 after purchasing an additional 321,883 shares during the last quarter. 37.02% of the stock is currently owned by institutional investors and hedge funds.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Friday, November 1st were issued a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 21.03%. The ex-dividend date of this dividend was Thursday, October 31st. EQM Midstream Partners’s payout ratio is currently 91.52%.
EQM Midstream Partners Company Profile
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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