Summit Financial LLC Has $592,000 Holdings in EQM Midstream Partners LP (NYSE:EQM)

Summit Financial LLC lifted its holdings in EQM Midstream Partners LP (NYSE:EQM) by 22.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,239 shares of the pipeline company’s stock after acquiring an additional 2,418 shares during the quarter. Summit Financial LLC’s holdings in EQM Midstream Partners were worth $592,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northern Trust Corp grew its position in shares of EQM Midstream Partners by 15.7% during the fourth quarter. Northern Trust Corp now owns 15,533 shares of the pipeline company’s stock worth $671,000 after buying an additional 2,110 shares in the last quarter. Nwam LLC lifted its stake in EQM Midstream Partners by 83.1% during the first quarter. Nwam LLC now owns 13,446 shares of the pipeline company’s stock worth $621,000 after purchasing an additional 6,102 shares during the last quarter. Eagle Global Advisors LLC lifted its stake in EQM Midstream Partners by 501.2% during the first quarter. Eagle Global Advisors LLC now owns 408,591 shares of the pipeline company’s stock worth $18,865,000 after purchasing an additional 340,631 shares during the last quarter. Chicago Partners Investment Group LLC lifted its stake in EQM Midstream Partners by 12.2% during the first quarter. Chicago Partners Investment Group LLC now owns 44,893 shares of the pipeline company’s stock worth $2,033,000 after purchasing an additional 4,885 shares during the last quarter. Finally, Miller Howard Investments Inc. NY lifted its stake in EQM Midstream Partners by 1.1% during the first quarter. Miller Howard Investments Inc. NY now owns 447,839 shares of the pipeline company’s stock worth $20,677,000 after purchasing an additional 4,969 shares during the last quarter. 38.14% of the stock is currently owned by institutional investors and hedge funds.

NYSE EQM traded up $0.23 on Thursday, reaching $31.14. The stock had a trading volume of 24,295 shares, compared to its average volume of 738,858. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.43 and a current ratio of 0.43. EQM Midstream Partners LP has a 12-month low of $30.31 and a 12-month high of $58.00. The company’s 50-day moving average is $40.05. The firm has a market capitalization of $6.58 billion, a PE ratio of 6.13 and a beta of 0.97.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Friday, August 2nd were paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 14.90%. The ex-dividend date was Thursday, August 1st. EQM Midstream Partners’s dividend payout ratio is currently 91.52%.

Several equities research analysts recently weighed in on the company. UBS Group assumed coverage on EQM Midstream Partners in a research note on Tuesday, August 6th. They set a “neutral” rating and a $36.00 target price for the company. Zacks Investment Research cut EQM Midstream Partners from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Stifel Nicolaus set a $46.00 target price on EQM Midstream Partners and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Credit Suisse Group reduced their price objective on EQM Midstream Partners from $45.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, August 1st. Finally, Royal Bank of Canada set a $42.00 price objective on EQM Midstream Partners and gave the company a “hold” rating in a research note on Wednesday, July 31st. Eleven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $47.92.

EQM Midstream Partners Company Profile

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.

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Institutional Ownership by Quarter for EQM Midstream Partners (NYSE:EQM)

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