JPMorgan Chase & Co. Has $93.82 Million Holdings in EQT Midstream Partners LP (EQM)
JPMorgan Chase & Co. grew its position in shares of EQT Midstream Partners LP (NYSE:EQM) by 20.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,271,917 shares of the pipeline company’s stock after buying an additional 219,261 shares during the quarter. JPMorgan Chase & Co. owned 1.58% of EQT Midstream Partners worth $93,817,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in EQM. IFP Advisors Inc increased its holdings in shares of EQT Midstream Partners by 120.5% in the 2nd quarter. IFP Advisors Inc now owns 1,808 shares of the pipeline company’s stock valued at $135,000 after purchasing an additional 988 shares in the last quarter. Saratoga Research & Investment Management acquired a new stake in EQT Midstream Partners in the 3rd quarter valued at about $186,000. A. D. Beadell Investment Counsel Inc. acquired a new stake in EQT Midstream Partners in the 3rd quarter valued at about $203,000. CIBC Asset Management Inc acquired a new stake in EQT Midstream Partners in the 3rd quarter valued at about $204,000. Finally, Keybank National Association OH acquired a new stake in EQT Midstream Partners in the 3rd quarter valued at about $259,000. Institutional investors own 73.74% of the company’s stock.
EQM has been the topic of a number of research reports. US Capital Advisors cut shares of EQT Midstream Partners from a “buy” rating to a “buy” rating in a research note on Friday, November 17th. Royal Bank Of Canada reissued a “buy” rating and issued a $96.00 price objective on shares of EQT Midstream Partners in a research note on Tuesday, October 10th. Mitsubishi UFJ Financial Group reissued an “overweight” rating on shares of EQT Midstream Partners in a research note on Thursday, October 26th. BidaskClub raised shares of EQT Midstream Partners from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Finally, Zacks Investment Research cut shares of EQT Midstream Partners from a “hold” rating to a “strong sell” rating in a research note on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. EQT Midstream Partners currently has a consensus rating of “Hold” and an average target price of $90.83.
EQT Midstream Partners LP (NYSE EQM) traded down $0.49 during trading on Tuesday, hitting $68.98. 448,200 shares of the company’s stock traded hands, compared to its average volume of 258,460. EQT Midstream Partners LP has a one year low of $64.42 and a one year high of $82.99. The firm has a market cap of $5,598.02, a PE ratio of 13.31, a P/E/G ratio of 1.03 and a beta of 0.89. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.90 and a quick ratio of 0.90.
EQT Midstream Partners (NYSE:EQM) last announced its quarterly earnings data on Thursday, October 26th. The pipeline company reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.02. The business had revenue of $207.20 million for the quarter, compared to analyst estimates of $205.29 million. EQT Midstream Partners had a net margin of 65.99% and a return on equity of 25.85%. The company’s revenue was up 17.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.23 EPS. equities research analysts predict that EQT Midstream Partners LP will post 5.63 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Friday, November 3rd were issued a dividend of $0.98 per share. This is a positive change from EQT Midstream Partners’s previous quarterly dividend of $0.94. This represents a $3.92 annualized dividend and a dividend yield of 5.68%. The ex-dividend date of this dividend was Thursday, November 2nd. EQT Midstream Partners’s dividend payout ratio is presently 75.10%.
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About EQT Midstream Partners
EQT Midstream Partners, LP (EQM) owns, operates, acquires and develops midstream assets in the Appalachian Basin. The Company’s segments include Gathering and Transmission. The Gathering segment primarily includes high pressure gathering lines and the Federal Energy Regulatory Commission (FERC)-regulated low pressure gathering system.
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