EQT Midstream Partners LP (EQM) Stock Rating Reaffirmed by Royal Bank of Canada

EQT Midstream Partners LP (NYSE:EQM)‘s stock had its “buy” rating restated by Royal Bank of Canada in a note issued to investors on Friday. They presently have a $98.00 price target on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 26.26% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research cut EQT Midstream Partners from a “buy” rating to a “hold” rating in a report on Monday, November 28th. Morgan Stanley upgraded EQT Midstream Partners from an “equal weight” rating to a “buy” rating and upped their price objective for the stock from $87.00 to $89.00 in a report on Tuesday, February 14th. Scotiabank reiterated a “hold” rating and issued a $92.00 price objective on shares of EQT Midstream Partners in a report on Monday, February 6th. Finally, Janney Montgomery Scott assumed coverage on EQT Midstream Partners in a report on Thursday, January 26th. They issued a “buy” rating and a $97.00 price objective for the company. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $90.00.

Analyst Recommendations for EQT Midstream Partners (NYSE:EQM)

Shares of EQT Midstream Partners (NYSE:EQM) opened at 77.62 on Friday. The stock’s 50 day moving average price is $79.45 and its 200 day moving average price is $76.30. The firm has a market capitalization of $6.25 billion, a price-to-earnings ratio of 14.90 and a beta of 0.91. EQT Midstream Partners has a 12-month low of $69.15 and a 12-month high of $82.99.

EQT Midstream Partners (NYSE:EQM) last posted its quarterly earnings data on Thursday, February 2nd. The company reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by $0.03. EQT Midstream Partners had a return on equity of 26.15% and a net margin of 67.66%. The firm earned $195.01 million during the quarter, compared to analysts’ expectations of $191.84 million. During the same quarter in the previous year, the company posted $1.26 earnings per share. EQT Midstream Partners’s revenue for the quarter was up 14.2% compared to the same quarter last year. Equities research analysts expect that EQT Midstream Partners will post $5.44 earnings per share for the current year.

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Large investors have recently modified their holdings of the stock. Tiedemann Wealth Management LLC boosted its stake in shares of EQT Midstream Partners by 14.0% in the third quarter. Tiedemann Wealth Management LLC now owns 22,436 shares of the company’s stock valued at $1,711,000 after buying an additional 2,751 shares in the last quarter. BlackRock Advisors LLC boosted its stake in shares of EQT Midstream Partners by 43.9% in the third quarter. BlackRock Advisors LLC now owns 226,416 shares of the company’s stock valued at $17,251,000 after buying an additional 69,110 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of EQT Midstream Partners by 3.5% in the third quarter. JPMorgan Chase & Co. now owns 913,542 shares of the company’s stock valued at $69,603,000 after buying an additional 31,029 shares in the last quarter. Conning Inc. boosted its stake in shares of EQT Midstream Partners by 0.7% in the third quarter. Conning Inc. now owns 38,658 shares of the company’s stock valued at $2,945,000 after buying an additional 278 shares in the last quarter. Finally, Endurance Wealth Management Inc. boosted its stake in shares of EQT Midstream Partners by 6.5% in the third quarter. Endurance Wealth Management Inc. now owns 41,139 shares of the company’s stock valued at $3,173,000 after buying an additional 2,500 shares in the last quarter. Institutional investors own 72.60% of the company’s stock.

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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