Brokerages Expect EQM Midstream Partners LP (EQM) Will Post Quarterly Sales of $395.45 Million

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Analysts forecast that EQM Midstream Partners LP (NYSE:EQM) will report $395.45 million in sales for the current quarter, according to Zacks. Four analysts have made estimates for EQM Midstream Partners’ earnings. The highest sales estimate is $403.90 million and the lowest is $382.74 million. EQM Midstream Partners reported sales of $232.84 million during the same quarter last year, which indicates a positive year over year growth rate of 69.8%. The business is scheduled to issue its next quarterly earnings results on Thursday, April 25th.

On average, analysts expect that EQM Midstream Partners will report full year sales of $1.63 billion for the current year, with estimates ranging from $1.59 billion to $1.69 billion. For the next year, analysts expect that the business will post sales of $1.83 billion, with estimates ranging from $1.73 billion to $1.94 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow EQM Midstream Partners.

EQM Midstream Partners (NYSE:EQM) last issued its earnings results on Thursday, February 14th. The pipeline company reported ($0.89) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.30 by ($2.19). The company had revenue of $384.80 million during the quarter, compared to analysts’ expectations of $380.81 million. EQM Midstream Partners had a return on equity of 19.63% and a net margin of 36.10%. The company’s revenue for the quarter was up 31.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.28 EPS.

EQM has been the topic of several analyst reports. Barclays dropped their price target on shares of EQM Midstream Partners from $48.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 6th. Wolfe Research upgraded shares of EQM Midstream Partners from a “peer perform” rating to an “outperform” rating and set a $66.00 price target on the stock in a research note on Tuesday, November 20th. Stifel Nicolaus cut shares of EQM Midstream Partners from a “buy” rating to a “hold” rating and dropped their price target for the stock from $56.00 to $51.00 in a research note on Monday, December 3rd. JPMorgan Chase & Co. cut shares of EQM Midstream Partners from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $55.00 to $54.00 in a research note on Wednesday, February 6th. Finally, Citigroup upgraded shares of EQM Midstream Partners from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $82.00 to $58.00 in a research note on Thursday, November 29th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company. EQM Midstream Partners currently has an average rating of “Hold” and a consensus target price of $57.81.

Shares of EQM Midstream Partners stock traded up $0.86 on Friday, hitting $44.09. 1,523,773 shares of the company’s stock were exchanged, compared to its average volume of 880,905. The stock has a market capitalization of $5.21 billion, a PE ratio of 8.70 and a beta of 1.09. EQM Midstream Partners has a 1 year low of $38.24 and a 1 year high of $63.73. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.55 and a quick ratio of 0.55.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 13th. Stockholders of record on Friday, February 1st were given a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 10.25%. This is an increase from EQM Midstream Partners’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend was Thursday, January 31st. EQM Midstream Partners’s dividend payout ratio (DPR) is presently 89.15%.

Several hedge funds have recently made changes to their positions in the company. Chicago Partners Investment Group LLC raised its position in shares of EQM Midstream Partners by 1.2% during the 4th quarter. Chicago Partners Investment Group LLC now owns 40,008 shares of the pipeline company’s stock valued at $1,791,000 after purchasing an additional 457 shares during the period. Northern Oak Wealth Management Inc. raised its position in shares of EQM Midstream Partners by 76.9% during the 4th quarter. Northern Oak Wealth Management Inc. now owns 2,300 shares of the pipeline company’s stock valued at $99,000 after purchasing an additional 1,000 shares during the period. Tortoise Index Solutions LLC raised its position in shares of EQM Midstream Partners by 16.5% during the 3rd quarter. Tortoise Index Solutions LLC now owns 10,377 shares of the pipeline company’s stock valued at $548,000 after purchasing an additional 1,469 shares during the period. Bank of New York Mellon Corp raised its position in shares of EQM Midstream Partners by 10.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 17,842 shares of the pipeline company’s stock valued at $942,000 after purchasing an additional 1,664 shares during the period. Finally, Putnam Investments LLC raised its position in shares of EQM Midstream Partners by 7.1% during the 3rd quarter. Putnam Investments LLC now owns 28,050 shares of the pipeline company’s stock valued at $1,480,000 after purchasing an additional 1,850 shares during the period. Hedge funds and other institutional investors own 67.34% of the company’s stock.

EQM Midstream Partners Company Profile

EQM 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 owns 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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