Equities analysts predict that EQM Midstream Partners LP (NYSE:EQM) will post $1.07 earnings per share for the current quarter, Zacks reports. Four analysts have made estimates for EQM Midstream Partners’ earnings. The highest EPS estimate is $1.28 and the lowest is $0.88. EQM Midstream Partners posted earnings of $1.14 per share in the same quarter last year, which indicates a negative year over year growth rate of 6.1%. The business is scheduled to report its next quarterly earnings results on Thursday, October 24th.
According to Zacks, analysts expect that EQM Midstream Partners will report full-year earnings of $4.57 per share for the current fiscal year, with EPS estimates ranging from $4.34 to $4.80. For the next year, analysts forecast that the firm will report earnings of $4.35 per share, with EPS estimates ranging from $3.52 to $5.49. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow EQM Midstream Partners.
EQM Midstream Partners (NYSE:EQM) last released its quarterly earnings data on Tuesday, July 30th. The pipeline company reported $0.93 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.97 by ($0.04). EQM Midstream Partners had a return on equity of 16.66% and a net margin of 32.78%. The business had revenue of $406.17 million during the quarter, compared to the consensus estimate of $401.94 million.
A number of equities analysts have recently commented on the company. Stifel Nicolaus set a $46.00 price target on EQM Midstream Partners and gave the stock a “hold” rating in a report on Wednesday, July 31st. Credit Suisse Group dropped their price objective 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 assumed coverage on EQM Midstream Partners in a research note on Tuesday, August 6th. They issued a “neutral” rating and a $36.00 target price for the company. Royal Bank of Canada set a $42.00 target price on EQM Midstream Partners and gave the company a “hold” rating in a report on Wednesday, July 31st. Finally, Zacks Investment Research cut EQM Midstream Partners from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. EQM Midstream Partners presently has an average rating of “Hold” and an average price target of $48.36.
EQM stock traded up $0.22 during midday trading on Friday, reaching $30.26. 457,330 shares of the company’s stock traded hands, compared to its average volume of 658,536. The firm has a market capitalization of $6.26 billion, a PE ratio of 5.97 and a beta of 0.97. The company has a 50-day moving average price of $33.19 and a two-hundred day moving average price of $41.35. EQM Midstream Partners has a 52 week low of $28.44 and a 52 week high of $57.10. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.43 and a current ratio of 0.43.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Friday, August 2nd were given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 15.33%. The ex-dividend date of this dividend was Thursday, August 1st. EQM Midstream Partners’s payout ratio is 91.52%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. HM Payson & Co. bought a new stake in shares of EQM Midstream Partners during the 2nd quarter valued at about $35,000. Optimum Investment Advisors purchased a new position in shares of EQM Midstream Partners in the 1st quarter worth $46,000. Lee Financial Co purchased a new position in shares of EQM Midstream Partners in the 2nd quarter worth $92,000. Cerebellum GP LLC purchased a new stake in EQM Midstream Partners during the second quarter valued at $148,000. Finally, Northern Oak Wealth Management Inc. lifted its holdings in EQM Midstream Partners by 15.2% in the second quarter. Northern Oak Wealth Management Inc. now owns 3,800 shares of the pipeline company’s stock valued at $170,000 after acquiring an additional 500 shares during the period. Institutional investors and hedge funds own 41.93% of the company’s stock.
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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