EQT Midstream Partners LP to Post Q3 2018 Earnings of $1.14 Per Share, US Capital Advisors Forecasts (EQM)

EQT Midstream Partners LP (NYSE:EQM) – Research analysts at US Capital Advisors dropped their Q3 2018 earnings estimates for shares of EQT Midstream Partners in a research report issued on Wednesday, October 17th. US Capital Advisors analyst C. Crosby now anticipates that the pipeline company will earn $1.14 per share for the quarter, down from their previous estimate of $1.18. US Capital Advisors also issued estimates for EQT Midstream Partners’ Q4 2018 earnings at $1.24 EPS, FY2019 earnings at $4.79 EPS and FY2020 earnings at $4.94 EPS.

EQT Midstream Partners (NYSE:EQM) last announced its quarterly earnings results on Thursday, July 26th. The pipeline company reported $1.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.38 by ($0.29). EQT Midstream Partners had a net margin of 63.76% and a return on equity of 26.66%. The company had revenue of $269.76 million during the quarter, compared to analyst estimates of $247.61 million. During the same period in the previous year, the firm posted $1.27 earnings per share. The company’s revenue was up 37.1% compared to the same quarter last year.

Several other research analysts also recently weighed in on the company. LADENBURG THALM/SH SH reduced their target price on EQT Midstream Partners from $81.00 to $29.00 and set a “buy” rating for the company in a research note on Friday, August 17th. Citigroup reduced their target price on EQT Midstream Partners to $64.00 and set an “overweight” rating for the company in a research note on Tuesday, September 25th. Morgan Stanley reduced their target price on EQT Midstream Partners from $65.00 to $61.00 and set an “overweight” rating for the company in a research note on Friday, August 17th. Royal Bank of Canada reaffirmed a “hold” rating and set a $61.00 target price on shares of EQT Midstream Partners in a research note on Friday, July 27th. Finally, Stifel Nicolaus reduced their target price on EQT Midstream Partners from $66.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, August 17th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. EQT Midstream Partners presently has a consensus rating of “Buy” and a consensus price target of $62.43.

Shares of NYSE:EQM opened at $51.80 on Thursday. EQT Midstream Partners has a 12-month low of $48.91 and a 12-month high of $77.97. The company has a market capitalization of $4.56 billion, a price-to-earnings ratio of 9.98 and a beta of 1.07. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.42 and a quick ratio of 1.42.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Keybank National Association OH raised its stake in EQT Midstream Partners by 26.2% in the 2nd quarter. Keybank National Association OH now owns 4,753 shares of the pipeline company’s stock valued at $245,000 after purchasing an additional 987 shares during the last quarter. Advisory Services Network LLC raised its stake in EQT Midstream Partners by 100.0% in the 2nd quarter. Advisory Services Network LLC now owns 5,200 shares of the pipeline company’s stock valued at $283,000 after purchasing an additional 2,600 shares during the last quarter. Nwam LLC acquired a new position in EQT Midstream Partners in the 3rd quarter valued at $278,000. Lake Street Advisors Group LLC acquired a new position in EQT Midstream Partners in the 2nd quarter valued at $298,000. Finally, Suntrust Banks Inc. acquired a new position in EQT Midstream Partners in the 1st quarter valued at $442,000. 65.72% of the stock is owned by hedge funds and other institutional investors.

EQT Midstream Partners Company Profile

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.

See Also: Asset Allocation

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

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