$1.00 EPS Expected for EQM Midstream Partners LP (NYSE:EQM) This Quarter

Brokerages predict that EQM Midstream Partners LP (NYSE:EQM) will post earnings per share (EPS) of $1.00 for the current quarter, according to Zacks. Four analysts have made estimates for EQM Midstream Partners’ earnings. The lowest EPS estimate is $0.77 and the highest is $1.25. EQM Midstream Partners reported earnings of $1.09 per share during the same quarter last year, which indicates a negative year over year growth rate of 8.3%. The company is scheduled to issue its next earnings results on Thursday, July 25th.

On average, analysts expect that EQM Midstream Partners will report full year earnings of $4.73 per share for the current year, with EPS estimates ranging from $4.42 to $5.30. For the next year, analysts expect that the business will post earnings of $4.68 per share, with EPS estimates ranging from $3.58 to $6.02. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover EQM Midstream Partners.

EQM Midstream Partners (NYSE:EQM) last issued its quarterly earnings results on Tuesday, April 30th. The pipeline company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.42. EQM Midstream Partners had a return on equity of 18.34% and a net margin of 37.39%. The firm had revenue of $389.78 million for the quarter, compared to analysts’ expectations of $395.08 million. During the same period in the previous year, the firm posted $1.61 EPS. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year.

A number of analysts have recently commented on the company. Zacks Investment Research cut EQM Midstream Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 15th. Citigroup set a $52.00 price target on EQM Midstream Partners and gave the stock a “buy” rating in a research report on Monday, April 22nd. Barclays dropped their price target on EQM Midstream Partners from $48.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 6th. Finally, Mitsubishi UFJ Financial Group cut EQM Midstream Partners from an “overweight” rating to a “neutral” rating in a research report on Thursday, February 14th. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $54.86.

Shares of EQM traded down $0.32 during mid-day trading on Friday, reaching $44.51. The company had a trading volume of 7,216 shares, compared to its average volume of 639,916. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.94. EQM Midstream Partners has a 52 week low of $38.24 and a 52 week high of $59.62. The stock has a market cap of $9.18 billion, a P/E ratio of 8.77 and a beta of 1.04.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Friday, May 3rd were given a $1.145 dividend. The ex-dividend date of this dividend was Thursday, May 2nd. This is a boost from EQM Midstream Partners’s previous quarterly dividend of $1.13. This represents a $4.58 annualized dividend and a yield of 10.29%. EQM Midstream Partners’s dividend payout ratio is 90.34%.

A number of hedge funds have recently added to or reduced their stakes in the stock. Aveo Capital Partners LLC bought a new position in shares of EQM Midstream Partners during the 4th quarter valued at $229,000. CIBC Private Wealth Group LLC lifted its holdings in shares of EQM Midstream Partners by 16.9% during the 1st quarter. CIBC Private Wealth Group LLC now owns 1,854,898 shares of the pipeline company’s stock valued at $85,641,000 after buying an additional 267,721 shares during the period. Ballentine Partners LLC bought a new position in shares of EQM Midstream Partners during the 1st quarter valued at $379,000. Alps Advisors Inc. lifted its holdings in shares of EQM Midstream Partners by 12.6% during the 4th quarter. Alps Advisors Inc. now owns 8,242,295 shares of the pipeline company’s stock valued at $356,479,000 after buying an additional 921,558 shares during the period. Finally, Tortoise Index Solutions LLC lifted its holdings in shares of EQM Midstream Partners by 128.2% during the 4th quarter. Tortoise Index Solutions LLC now owns 23,680 shares of the pipeline company’s stock valued at $1,024,000 after buying an additional 13,303 shares during the period. 66.35% of the stock is currently owned by institutional investors and hedge funds.

About EQM Midstream Partners

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.

Featured Story: What are defining characteristics of a correction?

Get a free copy of the Zacks research report on EQM Midstream Partners (EQM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for EQM Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQM Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.