EQT Midstream Partners (EQM) Holdings Trimmed by SG Americas Securities LLC

SG Americas Securities LLC lowered its stake in shares of EQT Midstream Partners (NYSE:EQM) by 26.1% during the first quarter, HoldingsChannel.com reports. The firm owned 19,964 shares of the pipeline company’s stock after selling 7,067 shares during the period. SG Americas Securities LLC’s holdings in EQT Midstream Partners were worth $1,178,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of EQT Midstream Partners in the 1st quarter valued at $649,000. Dearborn Partners LLC raised its stake in shares of EQT Midstream Partners by 26.5% in the 1st quarter. Dearborn Partners LLC now owns 4,373 shares of the pipeline company’s stock valued at $258,000 after acquiring an additional 917 shares during the period. Wells Fargo & Company MN raised its stake in shares of EQT Midstream Partners by 10.2% in the 1st quarter. Wells Fargo & Company MN now owns 177,827 shares of the pipeline company’s stock valued at $10,497,000 after acquiring an additional 16,526 shares during the period. Global X Management Co. LLC raised its stake in shares of EQT Midstream Partners by 11.3% in the 1st quarter. Global X Management Co. LLC now owns 621,631 shares of the pipeline company’s stock valued at $36,695,000 after acquiring an additional 62,915 shares during the period. Finally, Green Square Capital LLC purchased a new position in shares of EQT Midstream Partners in the 4th quarter valued at $2,300,000. 72.69% of the stock is currently owned by institutional investors and hedge funds.

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A number of equities analysts have recently commented on the stock. Wolfe Research downgraded shares of EQT Midstream Partners from an “outperform” rating to a “peer perform” rating and cut their target price for the company from $85.00 to $76.00 in a research note on Wednesday, February 14th. Zacks Investment Research downgraded shares of EQT Midstream Partners from a “hold” rating to a “sell” rating in a research note on Monday, March 12th. Wells Fargo & Co cut their target price on shares of EQT Midstream Partners from $79.00 to $69.00 and set an “outperform” rating on the stock in a research note on Monday, April 30th. ValuEngine downgraded shares of EQT Midstream Partners from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Finally, Seaport Global Securities raised shares of EQT Midstream Partners from a “neutral” rating to a “buy” rating and cut their target price for the company from $70.00 to $67.00 in a research note on Monday, April 9th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. EQT Midstream Partners presently has a consensus rating of “Hold” and an average target price of $75.73.

EQM opened at $56.12 on Wednesday. The firm has a market cap of $4.42 billion, a P/E ratio of 10.08 and a beta of 0.92. EQT Midstream Partners has a twelve month low of $50.89 and a twelve month high of $78.75. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.59.

EQT Midstream Partners (NYSE:EQM) last released its quarterly earnings results on Thursday, April 26th. The pipeline company reported $1.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.19. The business had revenue of $232.80 million during the quarter, compared to analyst estimates of $232.38 million. EQT Midstream Partners had a net margin of 65.11% and a return on equity of 26.35%. The business’s revenue was up 16.3% on a year-over-year basis. During the same period last year, the business earned $1.36 EPS. equities analysts forecast that EQT Midstream Partners will post 5.83 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Friday, May 4th were issued a dividend of $1.065 per share. This represents a $4.26 dividend on an annualized basis and a yield of 7.59%. This is a positive change from EQT Midstream Partners’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Thursday, May 3rd. EQT Midstream Partners’s dividend payout ratio (DPR) is presently 82.08%.

EQT Midstream Partners 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.

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

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