FY2020 EPS Estimates for EQM Midstream Partners LP (NYSE:EQM) Reduced by US Capital Advisors

EQM Midstream Partners LP (NYSE:EQM) – Investment analysts at US Capital Advisors dropped their FY2020 earnings estimates for EQM Midstream Partners in a research note issued to investors on Tuesday, October 15th. US Capital Advisors analyst B. Followill now expects that the pipeline company will post earnings of $3.47 per share for the year, down from their prior forecast of $3.52. US Capital Advisors also issued estimates for EQM Midstream Partners’ Q4 2020 earnings at $0.96 EPS and FY2021 earnings at $3.47 EPS.

EQM Midstream Partners (NYSE:EQM) last released its quarterly earnings results on Tuesday, July 30th. The pipeline company reported $0.93 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.04). EQM Midstream Partners had a net margin of 32.78% and a return on equity of 16.66%. The business had revenue of $406.17 million during the quarter, compared to analysts’ expectations of $401.94 million.

Several other research firms have also recently weighed in on EQM. Royal Bank of Canada set a $42.00 price target on EQM Midstream Partners and gave the company a “hold” rating in a report on Wednesday, July 31st. Zacks Investment Research cut EQM Midstream Partners from a “buy” rating to a “hold” rating in a report on Thursday. Credit Suisse Group lowered their price target on EQM Midstream Partners from $45.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, August 1st. UBS Group raised EQM Midstream Partners from a “neutral” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Thursday, September 26th. Finally, ValuEngine raised EQM Midstream Partners from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $47.18.

NYSE:EQM opened at $33.06 on Friday. The business’s 50-day moving average price is $31.50 and its two-hundred day moving average price is $39.41. EQM Midstream Partners has a twelve month low of $28.44 and a twelve month high of $51.77. The stock has a market cap of $6.86 billion, a P/E ratio of 6.52 and a beta of 0.97. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.92.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. HM Payson & Co. purchased a new position in shares of EQM Midstream Partners during the 2nd quarter valued at about $35,000. Lee Financial Co purchased a new position in shares of EQM Midstream Partners during the 2nd quarter valued at about $92,000. Cerebellum GP LLC purchased a new position in shares of EQM Midstream Partners during the 2nd quarter valued at about $148,000. Northern Oak Wealth Management Inc. raised its holdings in shares of EQM Midstream Partners by 15.2% during the 2nd quarter. Northern Oak Wealth Management Inc. now owns 3,800 shares of the pipeline company’s stock valued at $170,000 after buying an additional 500 shares in the last quarter. Finally, Wambolt & Associates LLC raised its holdings in shares of EQM Midstream Partners by 17.8% during the 2nd quarter. Wambolt & Associates LLC now owns 6,028 shares of the pipeline company’s stock valued at $269,000 after buying an additional 911 shares in the last quarter. 38.00% of the stock is currently owned by institutional investors.

About EQM Midstream Partners

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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Earnings History and Estimates for EQM Midstream Partners (NYSE:EQM)

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