$1.44 EPS Expected for EQT Midstream Partners (EQM) This Quarter

Equities research analysts expect that EQT Midstream Partners (NYSE:EQM) will post earnings per share of $1.44 for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for EQT Midstream Partners’ earnings, with the highest EPS estimate coming in at $1.98 and the lowest estimate coming in at $1.21. EQT Midstream Partners posted earnings of $1.36 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.9%. The business is expected to issue its next quarterly earnings report before the market opens on Thursday, April 26th.

According to Zacks, analysts expect that EQT Midstream Partners will report full-year earnings of $5.87 per share for the current financial year, with EPS estimates ranging from $4.75 to $7.97. For the next financial year, analysts expect that the company will report earnings of $7.40 per share, with EPS estimates ranging from $5.01 to $13.53. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow EQT Midstream Partners.

EQT Midstream Partners (NYSE:EQM) last posted its earnings results on Thursday, February 15th. The pipeline company reported $1.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.55 by ($0.27). The business had revenue of $224.51 million for the quarter, compared to the consensus estimate of $226.22 million. EQT Midstream Partners had a return on equity of 25.24% and a net margin of 63.33%. The business’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.31 earnings per share.

Several research analysts have weighed in on EQM shares. Zacks Investment Research upgraded EQT Midstream Partners from a “sell” rating to a “hold” rating in a report on Monday, February 19th. Bank of America started coverage on EQT Midstream Partners in a report on Tuesday, January 9th. They set a “buy” rating and a $89.00 target price on the stock. Morgan Stanley reduced their target price on EQT Midstream Partners from $83.00 to $77.00 and set an “overweight” rating on the stock in a report on Friday, March 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $84.00 price target (up from $74.00) on shares of EQT Midstream Partners in a report on Monday, February 12th. Finally, ValuEngine lowered EQT Midstream Partners from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $78.40.

EQM stock traded up $0.98 during midday trading on Thursday, hitting $62.68. 203,355 shares of the company’s stock were exchanged, compared to its average volume of 437,573. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.54. The firm has a market cap of $4,802.67, a PE ratio of 12.19, a P/E/G ratio of 0.85 and a beta of 0.94. EQT Midstream Partners has a one year low of $55.40 and a one year high of $79.53.

Several institutional investors have recently modified their holdings of EQM. Bank of New York Mellon Corp lifted its holdings in shares of EQT Midstream Partners by 9.7% in the third quarter. Bank of New York Mellon Corp now owns 16,657 shares of the pipeline company’s stock valued at $1,249,000 after purchasing an additional 1,478 shares in the last quarter. Allianz Asset Management GmbH increased its position in shares of EQT Midstream Partners by 31.3% in the third quarter. Allianz Asset Management GmbH now owns 138,794 shares of the pipeline company’s stock valued at $10,406,000 after acquiring an additional 33,094 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of EQT Midstream Partners by 14.3% in the third quarter. Oppenheimer Asset Management Inc. now owns 6,721 shares of the pipeline company’s stock valued at $504,000 after acquiring an additional 842 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in shares of EQT Midstream Partners by 27.3% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,088 shares of the pipeline company’s stock valued at $607,000 after acquiring an additional 1,736 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of EQT Midstream Partners by 3.1% in the third quarter. Janney Montgomery Scott LLC now owns 35,320 shares of the pipeline company’s stock valued at $2,648,000 after acquiring an additional 1,051 shares during the last quarter. Institutional investors own 71.35% of the company’s stock.

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About EQT Midstream Partners

EQT 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 owned 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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