Credit Suisse Group Begins Coverage on EQT Midstream Partners (EQM)

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Credit Suisse Group started coverage on shares of EQT Midstream Partners (NYSE:EQM) in a report released on Thursday, The Fly reports. The firm set a “neutral” rating and a $57.00 price target on the pipeline company’s stock. Credit Suisse Group’s target price suggests a potential upside of 8.67% from the company’s current price.

Several other equities analysts also recently commented on the company. LADENBURG THALM/SH SH dropped their target price on EQT Midstream Partners from $81.00 to $29.00 and set a “buy” rating for the company in a research report on Friday, August 17th. Morgan Stanley dropped their target price on EQT Midstream Partners from $65.00 to $61.00 and set an “overweight” rating for the company in a research report on Friday, August 17th. Royal Bank of Canada reiterated a “hold” rating and issued a $61.00 target price on shares of EQT Midstream Partners in a research report on Friday, July 27th. Stifel Nicolaus dropped their target price on EQT Midstream Partners from $66.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, August 17th. Finally, Citigroup dropped their target price on EQT Midstream Partners to $64.00 and set an “overweight” rating for the company in a research report on Tuesday, September 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $62.50.

EQT Midstream Partners stock opened at $52.45 on Thursday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of 10.11 and a beta of 1.07. EQT Midstream Partners has a 12 month low of $48.91 and a 12 month high of $77.97.

EQT Midstream Partners (NYSE:EQM) last posted its earnings results on Thursday, July 26th. The pipeline company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.29). The firm had revenue of $269.76 million during the quarter, compared to the consensus estimate of $247.61 million. EQT Midstream Partners had a net margin of 63.76% and a return on equity of 26.66%. EQT Midstream Partners’s revenue for the quarter was up 37.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.27 earnings per share. On average, research analysts anticipate that EQT Midstream Partners will post 5.8 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. Ostrum Asset Management bought a new position in shares of EQT Midstream Partners during the first quarter worth about $241,000. Keybank National Association OH raised its position in shares of EQT Midstream Partners by 26.2% during the second quarter. Keybank National Association OH now owns 4,753 shares of the pipeline company’s stock worth $245,000 after acquiring an additional 987 shares during the last quarter. Nwam LLC bought a new position in shares of EQT Midstream Partners during the third quarter worth about $278,000. Advisory Services Network LLC raised its position in shares of EQT Midstream Partners by 100.0% during the second quarter. Advisory Services Network LLC now owns 5,200 shares of the pipeline company’s stock worth $283,000 after acquiring an additional 2,600 shares during the last quarter. Finally, Lake Street Advisors Group LLC bought a new position in shares of EQT Midstream Partners during the second quarter worth about $298,000. Institutional investors own 65.72% of the company’s stock.

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.

Further Reading: What Factors Can Affect Return on Equity?

The Fly

Analyst Recommendations for EQT Midstream Partners (NYSE:EQM)

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