Wolfe Research cut shares of EQT Midstream Partners (NYSE:EQM) from an outperform rating to a peer perform rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports. They currently have $76.00 price objective on the pipeline company’s stock, down from their previous price objective of $85.00.
A number of other brokerages also recently weighed in on EQM. Royal Bank of Canada reissued a sector perform rating and set a $84.00 price target (up previously from $74.00) on shares of EQT Midstream Partners in a research report on Monday, February 12th. ValuEngine downgraded EQT Midstream Partners from a buy rating to a hold rating in a research report on Friday, February 2nd. Zacks Investment Research downgraded EQT Midstream Partners from a hold rating to a sell rating in a research report on Thursday, January 18th. Stifel Nicolaus set a $90.00 price target on EQT Midstream Partners and gave the stock a buy rating in a research report on Wednesday, January 17th. Finally, Bank of America started coverage on EQT Midstream Partners in a research report on Tuesday, January 9th. They set a buy rating and a $89.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. EQT Midstream Partners has a consensus rating of Hold and an average price target of $85.25.
Shares of EQT Midstream Partners (EQM) opened at $66.95 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $5,490.00, a PE ratio of 12.90, a P/E/G ratio of 0.94 and a beta of 0.77. EQT Midstream Partners has a 12-month low of $64.42 and a 12-month high of $82.99.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Friday, February 2nd were given a dividend of $1.025 per share. This represents a $4.10 dividend on an annualized basis and a yield of 6.12%. The ex-dividend date was Thursday, February 1st. This is an increase from EQT Midstream Partners’s previous quarterly dividend of $0.98. EQT Midstream Partners’s payout ratio is 79.00%.
Several large investors have recently modified their holdings of EQM. Center Coast Capital Advisors LP bought a new stake in shares of EQT Midstream Partners during the fourth quarter worth approximately $57,976,000. Alps Advisors Inc. boosted its holdings in shares of EQT Midstream Partners by 11.2% during the third quarter. Alps Advisors Inc. now owns 4,761,137 shares of the pipeline company’s stock worth $356,942,000 after acquiring an additional 480,995 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of EQT Midstream Partners by 20.8% during the third quarter. JPMorgan Chase & Co. now owns 1,271,917 shares of the pipeline company’s stock worth $93,817,000 after acquiring an additional 219,261 shares during the period. Kayne Anderson Capital Advisors LP boosted its holdings in shares of EQT Midstream Partners by 6.6% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 2,671,595 shares of the pipeline company’s stock worth $195,277,000 after acquiring an additional 164,303 shares during the period. Finally, Cadence Capital Management LLC bought a new stake in shares of EQT Midstream Partners during the third quarter worth approximately $11,963,000. Institutional investors own 74.47% of the company’s stock.
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EQT Midstream Partners Company Profile
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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