Virtus ETF Advisers LLC Takes Position in EQM Midstream Partners LP (NYSE:EQM)

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Virtus ETF Advisers LLC acquired a new stake in shares of EQM Midstream Partners LP (NYSE:EQM) during the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 58,212 shares of the pipeline company’s stock, valued at approximately $2,601,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. OppenheimerFunds Inc. increased its holdings in EQM Midstream Partners by 52.2% in the 1st quarter. OppenheimerFunds Inc. now owns 8,152,969 shares of the pipeline company’s stock worth $376,422,000 after buying an additional 2,797,626 shares during the period. CIBC Private Wealth Group LLC increased its holdings in EQM Midstream Partners by 6.6% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 1,977,712 shares of the pipeline company’s stock worth $88,365,000 after buying an additional 122,814 shares during the period. Eagle Global Advisors LLC increased its holdings in EQM Midstream Partners by 116.7% in the 2nd quarter. Eagle Global Advisors LLC now owns 885,372 shares of the pipeline company’s stock worth $39,558,000 after buying an additional 476,781 shares during the period. Wells Fargo & Company MN increased its holdings in EQM Midstream Partners by 143.7% in the 2nd quarter. Wells Fargo & Company MN now owns 626,858 shares of the pipeline company’s stock worth $28,008,000 after buying an additional 369,597 shares during the period. Finally, Cadence Capital Management LLC increased its holdings in EQM Midstream Partners by 10.6% in the 2nd quarter. Cadence Capital Management LLC now owns 467,052 shares of the pipeline company’s stock worth $20,868,000 after buying an additional 44,661 shares during the period. Hedge funds and other institutional investors own 41.93% of the company’s stock.

EQM stock traded up $1.07 during midday trading on Friday, reaching $30.87. The stock had a trading volume of 85,539 shares, compared to its average volume of 791,861. The company’s fifty day simple moving average is $32.97 and its 200 day simple moving average is $41.28. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.92. The company has a market cap of $6.23 billion, a price-to-earnings ratio of 6.12 and a beta of 0.97. EQM Midstream Partners LP has a 52-week low of $28.44 and a 52-week high of $57.10.

EQM Midstream Partners (NYSE:EQM) last announced its quarterly earnings data on Tuesday, July 30th. The pipeline company reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.04). The firm had revenue of $406.17 million during the quarter, compared to analysts’ expectations of $401.94 million. EQM Midstream Partners had a net margin of 32.78% and a return on equity of 16.66%. Sell-side analysts predict that EQM Midstream Partners LP will post 4.57 EPS for the current year.

EQM has been the topic of several research reports. Credit Suisse Group cut their price target on shares of EQM Midstream Partners from $45.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, August 1st. Royal Bank of Canada set a $42.00 price target on shares of EQM Midstream Partners and gave the stock a “hold” rating in a report on Wednesday, July 31st. UBS Group initiated coverage on shares of EQM Midstream Partners in a report on Tuesday, August 6th. They issued a “neutral” rating and a $36.00 price target on the stock. Stifel Nicolaus set a $46.00 price target on shares of EQM Midstream Partners and gave the stock a “hold” rating in a report on Wednesday, July 31st. Finally, Zacks Investment Research downgraded shares of EQM Midstream Partners from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $48.36.

EQM Midstream Partners Company Profile

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

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