Barclays Reaffirms “Hold” Rating for EQM Midstream Partners (NYSE:EQM)

Barclays restated their hold rating on shares of EQM Midstream Partners (NYSE:EQM) in a report released on Thursday morning, AnalystRatings.com reports. They currently have a $28.00 price objective on the pipeline company’s stock.

Several other equities research analysts also recently weighed in on EQM. Zacks Investment Research raised shares of EQM Midstream Partners from a sell rating to a hold rating in a report on Wednesday, November 27th. ValuEngine cut shares of EQM Midstream Partners from a hold rating to a sell rating in a research note on Friday, November 1st. Credit Suisse Group raised shares of EQM Midstream Partners from a neutral rating to an outperform rating and lowered their target price for the company from $39.00 to $30.00 in a research note on Monday, November 25th. Finally, UBS Group upgraded shares of EQM Midstream Partners from a neutral rating to a buy rating and set a $36.00 price target on the stock in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $40.63.

EQM opened at $27.73 on Thursday. EQM Midstream Partners has a 12 month low of $21.43 and a 12 month high of $47.66. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market cap of $5.64 billion, a P/E ratio of 5.47 and a beta of 0.88. The stock’s 50 day moving average price is $24.87 and its 200 day moving average price is $33.54.

EQM Midstream Partners (NYSE:EQM) last announced its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.24. The company had revenue of $408.40 million during the quarter, compared to analyst estimates of $408.98 million. EQM Midstream Partners had a return on equity of 18.34% and a net margin of 18.00%. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.14 EPS. Equities analysts anticipate that EQM Midstream Partners will post 3.26 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Man Group plc acquired a new stake in EQM Midstream Partners in the 3rd quarter valued at about $1,115,000. Chilton Investment Co. LLC bought a new stake in shares of EQM Midstream Partners in the 3rd quarter worth approximately $276,000. Virtu Financial LLC acquired a new stake in EQM Midstream Partners during the third quarter valued at approximately $811,000. Northwestern Mutual Investment Management Company LLC lifted its stake in EQM Midstream Partners by 24.1% during the third quarter. Northwestern Mutual Investment Management Company LLC now owns 890,449 shares of the pipeline company’s stock valued at $29,118,000 after purchasing an additional 173,165 shares during the last quarter. Finally, Cincinnati Insurance Co. boosted its holdings in EQM Midstream Partners by 74.2% during the third quarter. Cincinnati Insurance Co. now owns 57,875 shares of the pipeline company’s stock worth $1,893,000 after buying an additional 24,655 shares in the last quarter. 37.02% 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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Analyst Recommendations for EQM Midstream Partners (NYSE:EQM)

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