EQM Midstream Partners LP (NYSE:EQM) saw unusually large options trading on Thursday. Stock investors acquired 1,708 put options on the stock. This is an increase of 1,439% compared to the average volume of 111 put options.
Shares of EQM stock traded up $0.86 during trading hours on Friday, hitting $44.09. 1,523,773 shares of the company were exchanged, compared to its average volume of 880,905. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.85. EQM Midstream Partners has a 52-week low of $38.24 and a 52-week high of $63.73. The firm has a market cap of $5.21 billion, a P/E ratio of 8.70 and a beta of 1.09.
EQM Midstream Partners (NYSE:EQM) last released its quarterly earnings data on Thursday, February 14th. The pipeline company reported ($0.89) earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($2.19). EQM Midstream Partners had a net margin of 36.10% and a return on equity of 19.63%. The business had revenue of $384.80 million during the quarter, compared to analysts’ expectations of $380.81 million. During the same quarter in the prior year, the firm posted $1.28 earnings per share. The firm’s quarterly revenue was up 31.6% on a year-over-year basis. As a group, equities analysts expect that EQM Midstream Partners will post 4.18 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 13th. Shareholders of record on Friday, February 1st were issued a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 10.25%. This is an increase from EQM Midstream Partners’s previous quarterly dividend of $1.12. The ex-dividend date was Thursday, January 31st. EQM Midstream Partners’s dividend payout ratio (DPR) is presently 89.15%.
Large investors have recently made changes to their positions in the business. Chicago Partners Investment Group LLC lifted its holdings in shares of EQM Midstream Partners by 1.2% during the 4th quarter. Chicago Partners Investment Group LLC now owns 40,008 shares of the pipeline company’s stock worth $1,791,000 after acquiring an additional 457 shares during the last quarter. Northern Oak Wealth Management Inc. lifted its stake in EQM Midstream Partners by 76.9% in the fourth quarter. Northern Oak Wealth Management Inc. now owns 2,300 shares of the pipeline company’s stock worth $99,000 after purchasing an additional 1,000 shares during the last quarter. Tortoise Index Solutions LLC lifted its stake in EQM Midstream Partners by 16.5% in the third quarter. Tortoise Index Solutions LLC now owns 10,377 shares of the pipeline company’s stock worth $548,000 after purchasing an additional 1,469 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in EQM Midstream Partners by 10.3% in the third quarter. Bank of New York Mellon Corp now owns 17,842 shares of the pipeline company’s stock worth $942,000 after purchasing an additional 1,664 shares during the last quarter. Finally, Putnam Investments LLC lifted its stake in EQM Midstream Partners by 7.1% in the third quarter. Putnam Investments LLC now owns 28,050 shares of the pipeline company’s stock worth $1,480,000 after purchasing an additional 1,850 shares during the last quarter. 67.34% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have commented on EQM. Wolfe Research upgraded EQM Midstream Partners from a “peer perform” rating to an “outperform” rating and set a $66.00 price objective for the company in a research report on Tuesday, November 20th. Citigroup upgraded EQM Midstream Partners from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $82.00 to $58.00 in a research report on Thursday, November 29th. Stifel Nicolaus lowered EQM Midstream Partners from a “buy” rating to a “hold” rating and cut their price target for the company from $56.00 to $51.00 in a report on Monday, December 3rd. Barclays reaffirmed an “equal weight” rating and issued a $48.00 target price (down previously from $59.00) on shares of EQM Midstream Partners in a research report on Friday, December 7th. Finally, Goldman Sachs Group downgraded EQM Midstream Partners from a “buy” rating to a “neutral” rating and set a $49.00 price target on the stock. in a research report on Sunday, December 16th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $57.81.
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EQM Midstream Partners Company Profile
EQM 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 owns 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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