EQM Midstream Partners LP (NYSE:EQM) Short Interest Update

EQM Midstream Partners LP (NYSE:EQM) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 6,230,000 shares, an increase of 8.9% from the December 15th total of 5,720,000 shares. Currently, 7.6% of the shares of the stock are sold short. Based on an average trading volume of 1,010,000 shares, the short-interest ratio is currently 6.2 days.

EQM traded up $0.12 during mid-day trading on Thursday, reaching $30.27. The stock had a trading volume of 12,734 shares, compared to its average volume of 969,205. The stock has a market capitalization of $6.18 billion, a P/E ratio of 5.94 and a beta of 0.98. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.64 and a current ratio of 0.64. The firm’s fifty day simple moving average is $26.63 and its two-hundred day simple moving average is $31.56. EQM Midstream Partners has a 52 week low of $21.43 and a 52 week high of $47.66.

EQM Midstream Partners (NYSE:EQM) last announced its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.24. The firm had revenue of $408.40 million for the quarter, compared to analyst estimates of $408.98 million. EQM Midstream Partners had a return on equity of 18.34% and a net margin of 18.00%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period last year, the company earned $1.14 EPS. As a group, analysts expect that EQM Midstream Partners will post 3.26 EPS for the current fiscal year.

A number of equities research analysts recently commented on EQM shares. Credit Suisse Group upgraded EQM Midstream Partners from a “neutral” rating to an “outperform” rating and decreased their price target for the stock from $39.00 to $30.00 in a research report on Monday, November 25th. Barclays restated a “hold” rating and set a $28.00 price target on shares of EQM Midstream Partners in a research report on Thursday, December 19th. UBS Group upgraded EQM Midstream Partners from a “neutral” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Thursday, September 26th. ValuEngine upgraded EQM Midstream Partners from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Finally, Zacks Investment Research upgraded EQM Midstream Partners from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $38.56.

Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC increased its stake in EQM Midstream Partners by 26.4% during the 1st quarter. FMR LLC now owns 78,033 shares of the pipeline company’s stock worth $3,603,000 after acquiring an additional 16,299 shares during the period. Northern Trust Corp boosted its holdings in shares of EQM Midstream Partners by 65.4% during the 2nd quarter. Northern Trust Corp now owns 94,111 shares of the pipeline company’s stock valued at $4,205,000 after acquiring an additional 37,205 shares in the last quarter. United Capital Financial Advisers LLC acquired a new stake in shares of EQM Midstream Partners during the 2nd quarter valued at $310,000. BlackRock Inc. boosted its holdings in shares of EQM Midstream Partners by 1.2% during the 2nd quarter. BlackRock Inc. now owns 448,671 shares of the pipeline company’s stock valued at $20,047,000 after acquiring an additional 5,260 shares in the last quarter. Finally, Cohen & Steers Inc. boosted its holdings in shares of EQM Midstream Partners by 37.1% during the 2nd quarter. Cohen & Steers Inc. now owns 328,683 shares of the pipeline company’s stock valued at $14,686,000 after acquiring an additional 88,920 shares in the last quarter. Hedge funds and other institutional investors own 37.02% of the company’s stock.

About EQM Midstream Partners

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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