Vantage Financial Partners Ltd. Inc. bought a new position in EQT Midstream Partners LP (NYSE:EQM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 7,000 shares of the pipeline company’s stock, valued at approximately $513,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in EQT Midstream Partners in the fourth quarter worth $115,000. Stuart Chaussee & Associates Inc. acquired a new stake in EQT Midstream Partners in the fourth quarter worth $181,000. Saratoga Research & Investment Management acquired a new stake in EQT Midstream Partners in the third quarter worth $186,000. Advisory Services Network LLC increased its position in EQT Midstream Partners by 95.9% in the fourth quarter. Advisory Services Network LLC now owns 2,600 shares of the pipeline company’s stock worth $190,000 after buying an additional 1,273 shares during the period. Finally, A. D. Beadell Investment Counsel Inc. acquired a new stake in EQT Midstream Partners in the third quarter worth $203,000. 71.41% of the stock is currently owned by hedge funds and other institutional investors.
EQT Midstream Partners LP (NYSE:EQM) opened at $61.05 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.69 and a quick ratio of 0.69. EQT Midstream Partners LP has a 1 year low of $60.59 and a 1 year high of $79.93. The firm has a market capitalization of $5,065.37, a price-to-earnings ratio of 12.11, a P/E/G ratio of 0.92 and a beta of 0.92.
EQT Midstream Partners (NYSE:EQM) last released its quarterly earnings results on Thursday, February 15th. The pipeline company reported $1.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.55 by ($0.27). EQT Midstream Partners had a net margin of 63.33% and a return on equity of 25.24%. The company had revenue of $224.51 million during the quarter, compared to analyst estimates of $226.22 million. During the same quarter last year, the business earned $1.31 EPS. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. research analysts expect that EQT Midstream Partners LP will post 5.67 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Friday, February 2nd were given a $1.025 dividend. This is a positive change from EQT Midstream Partners’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $4.10 dividend on an annualized basis and a dividend yield of 6.72%. EQT Midstream Partners’s dividend payout ratio (DPR) is 79.00%.
Several brokerages have weighed in on EQM. Wolfe Research lowered EQT Midstream Partners from an “outperform” rating to a “peer perform” rating and dropped their target price for the stock from $85.00 to $76.00 in a research report on Wednesday, February 14th. Zacks Investment Research lowered EQT Midstream Partners from a “hold” rating to a “sell” rating in a research report on Thursday, January 18th. Wells Fargo & Co reissued an “outperform” rating and set a $77.00 price target (down from $85.00) on shares of EQT Midstream Partners in a report on Wednesday, February 21st. Bank of America began coverage on EQT Midstream Partners in a report on Tuesday, January 9th. They set a “buy” rating and a $89.00 price target on the stock. Finally, Stifel Nicolaus set a $90.00 price target on EQT Midstream Partners and gave the company a “buy” rating in a report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. EQT Midstream Partners has a consensus rating of “Hold” and an average target price of $84.20.
About EQT Midstream Partners
EQT Midstream Partners, LP (EQM) owns, operates, acquires and develops midstream assets in the Appalachian Basin. The Company’s segments include Gathering and Transmission. The Gathering segment primarily includes high pressure gathering lines and the Federal Energy Regulatory Commission (FERC)-regulated low pressure gathering system.