Parkside Financial Bank & Trust Sells 9,665 Shares of EQT Midstream Partners LP (EQM)

Parkside Financial Bank & Trust cut its position in EQT Midstream Partners LP (NYSE:EQM) by 66.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,805 shares of the pipeline company’s stock after selling 9,665 shares during the quarter. Parkside Financial Bank & Trust’s holdings in EQT Midstream Partners were worth $253,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EQM. Wells Fargo & Company MN boosted its stake in EQT Midstream Partners by 10.2% in the 1st quarter. Wells Fargo & Company MN now owns 177,827 shares of the pipeline company’s stock valued at $10,497,000 after purchasing an additional 16,526 shares during the period. California Public Employees Retirement System boosted its stake in EQT Midstream Partners by 7.0% in the 1st quarter. California Public Employees Retirement System now owns 146,183 shares of the pipeline company’s stock valued at $8,629,000 after purchasing an additional 9,542 shares during the period. BNP Paribas Arbitrage SA boosted its stake in EQT Midstream Partners by 333.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 12,784 shares of the pipeline company’s stock valued at $755,000 after purchasing an additional 9,837 shares during the period. Stifel Financial Corp boosted its stake in EQT Midstream Partners by 10.2% in the 1st quarter. Stifel Financial Corp now owns 18,865 shares of the pipeline company’s stock valued at $1,118,000 after purchasing an additional 1,744 shares during the period. Finally, Allianz Asset Management GmbH boosted its stake in EQT Midstream Partners by 15.5% in the 1st quarter. Allianz Asset Management GmbH now owns 201,695 shares of the pipeline company’s stock valued at $11,906,000 after purchasing an additional 27,101 shares during the period. Institutional investors and hedge funds own 65.72% of the company’s stock.

NYSE:EQM opened at $51.44 on Friday. The firm has a market cap of $4.56 billion, a PE ratio of 9.91 and a beta of 1.07. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.39. EQT Midstream Partners LP has a fifty-two week low of $48.91 and a fifty-two week high of $77.97.

EQT Midstream Partners (NYSE:EQM) last announced its quarterly earnings data on Thursday, July 26th. The pipeline company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.29). EQT Midstream Partners had a return on equity of 26.66% and a net margin of 63.76%. The business had revenue of $269.76 million for the quarter, compared to the consensus estimate of $247.61 million. During the same quarter in the prior year, the company earned $1.27 earnings per share. EQT Midstream Partners’s quarterly revenue was up 37.1% compared to the same quarter last year. On average, research analysts expect that EQT Midstream Partners LP will post 5.8 earnings per share for the current year.

Several analysts recently issued reports on EQM shares. LADENBURG THALM/SH SH reduced their price target on EQT Midstream Partners from $81.00 to $29.00 and set a “buy” rating for the company in a research note on Friday, August 17th. Stifel Nicolaus cut their target price on EQT Midstream Partners from $66.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, August 17th. Jefferies Financial Group assumed coverage on EQT Midstream Partners in a research report on Wednesday, July 25th. They set a “buy” rating and a $65.00 target price for the company. Zacks Investment Research upgraded EQT Midstream Partners from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research report on Monday, July 30th. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $61.00 target price on shares of EQT Midstream Partners in a research report on Friday, July 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $62.50.

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

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