EQT Midstream Partners (EQM) Expected to Announce Earnings of $1.38 Per Share

Brokerages expect that EQT Midstream Partners (NYSE:EQM) will announce earnings of $1.38 per share for the current quarter, Zacks reports. Four analysts have made estimates for EQT Midstream Partners’ earnings, with the lowest EPS estimate coming in at $1.13 and the highest estimate coming in at $1.97. EQT Midstream Partners posted earnings of $1.27 per share in the same quarter last year, which suggests a positive year over year growth rate of 8.7%. The business is scheduled to report its next quarterly earnings results on Thursday, July 26th.

According to Zacks, analysts expect that EQT Midstream Partners will report full-year earnings of $5.79 per share for the current fiscal year, with EPS estimates ranging from $4.28 to $7.94. For the next fiscal year, analysts forecast that the business will report earnings of $6.43 per share, with EPS estimates ranging from $3.11 to $9.09. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover EQT Midstream Partners.

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EQT Midstream Partners (NYSE:EQM) last released its earnings results on Thursday, April 26th. The pipeline company reported $1.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.19. EQT Midstream Partners had a net margin of 65.11% and a return on equity of 26.35%. The firm had revenue of $232.80 million during the quarter, compared to analysts’ expectations of $232.38 million. During the same period in the previous year, the company earned $1.36 EPS. EQT Midstream Partners’s revenue for the quarter was up 16.3% on a year-over-year basis.

Several brokerages have recently issued reports on EQM. ValuEngine cut shares of EQT Midstream Partners from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Wells Fargo lowered their price objective on shares of EQT Midstream Partners from $79.00 to $69.00 and set an “outperform” rating for the company in a research note on Monday, April 30th. Morgan Stanley lowered their price objective on shares of EQT Midstream Partners from $77.00 to $71.00 and set an “overweight” rating for the company in a research note on Friday, April 27th. Deutsche Bank began coverage on shares of EQT Midstream Partners in a research note on Friday, April 20th. They set a “buy” rating and a $78.00 price objective for the company. Finally, Barclays lowered their price objective on shares of EQT Midstream Partners from $83.00 to $68.00 and set an “overweight” rating for the company in a research note on Tuesday, April 17th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. EQT Midstream Partners presently has an average rating of “Hold” and a consensus target price of $75.73.

A number of institutional investors have recently made changes to their positions in EQM. Bank of New York Mellon Corp boosted its position in EQT Midstream Partners by 9.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 16,657 shares of the pipeline company’s stock worth $1,249,000 after purchasing an additional 1,478 shares during the period. Chickasaw Capital Management LLC boosted its position in EQT Midstream Partners by 4.0% during the 4th quarter. Chickasaw Capital Management LLC now owns 1,296,011 shares of the pipeline company’s stock worth $94,738,000 after purchasing an additional 50,292 shares during the period. Walnut Private Equity Partners LLC boosted its position in EQT Midstream Partners by 59.1% during the 4th quarter. Walnut Private Equity Partners LLC now owns 22,893 shares of the pipeline company’s stock worth $1,640,000 after purchasing an additional 8,500 shares during the period. Starfire Investment Advisers Inc. purchased a new stake in EQT Midstream Partners during the 4th quarter worth $1,167,000. Finally, Bank of Montreal Can boosted its position in EQT Midstream Partners by 5.6% during the 4th quarter. Bank of Montreal Can now owns 977,455 shares of the pipeline company’s stock worth $71,452,000 after purchasing an additional 52,000 shares during the period. 71.36% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE EQM traded up $0.18 during trading on Friday, hitting $54.41. 602,673 shares of the company traded hands, compared to its average volume of 596,785. EQT Midstream Partners has a 1 year low of $53.75 and a 1 year high of $78.75. The stock has a market capitalization of $4,384.96, a PE ratio of 10.48, a P/E/G ratio of 0.78 and a beta of 0.92. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.59.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, May 4th will be given a dividend of $1.065 per share. This represents a $4.26 dividend on an annualized basis and a yield of 7.83%. This is a boost from EQT Midstream Partners’s previous quarterly dividend of $1.03. The ex-dividend date is Thursday, May 3rd. EQT Midstream Partners’s dividend payout ratio is 82.08%.

About EQT Midstream Partners

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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