Should Investors Be Selling EQT Midstream Partners (NYSE:EQM) Shares? Scotia Howard Weil Downgrades Stock


EQT Midstream Partners (NYSE:EQM) Receives a Downgrade

In an analyst research report revealed to investors and clients on 15 December, Scotia Howard Weildecided to downgrade shares of EQT Midstream Partners (NYSE:EQM) from their Sector Outperform rating to a Sector Perform. The brokerage firm currently has a $84.0 target on the stock.

From a total of 12 analysts covering EQT Midstream Partners (NYSE:EQM) stock, 13 rate it a ”Buy”, 0 a “Sell”, and 1 a ”Hold”. This means that 93% of the ratings are positive. The highest target price is $110 while the lowest target price is $80. The mean of all analyst targets is $97.33 with a 62.71% above today’s ($63.67) stock price. EQT Midstream Partners was the topic of 8 analyst reports since August 13, 2015 according to the firm StockzIntelligence Inc. Deutsche Bank maintained shares on November 18 with “Buy” rating. RBC Capital Markets maintained EQM stock in a recent report from October 23 with “Outperform” rating.

The stock closed the day at $63.67 during the previous session. It is down 22.15% since May 12, 2015 and is downtrending. It has underperformed by 18.48% the S&P500.

The overall sentiment of institutions has decreased to 1.1 in Q2 2015. Its down 0.08, from 1.18 in 2015Q2. The ratio dived, as 20 institutions have sold all the shares of EQT Midstream Partners LP that they owned while 52 funds have taken shares off the table. 23 funds have purchased shares for the first time while 56 added to their positions. These institutions now hold 48.90 million shares or 2.26% more than the 47.82 million shares they owned in 2015Q2.

The Fund Cushing Asset Management Lp currently is holding shares equating to 3.86% of its total portfolio in EQT Midstream Partners LP representing a total of 1.53 million shares. Another fund,Tortoise Capital Advisors L.L.C., is holding a total of 7.01 million shares equating to 3.66% of their holdings. Additionally, Samson Capital Management Llc has a 65,941 share stake in EQT Midstream Partners LP which represents 3.2% of their total portfolio. The Fund, Chickasaw Capital Management Llc, based out of Tennessee, has also built up a stake in the stock, which represents a total of 3.17% of their total portfolio. Finally Alps Advisors Inc, a fund which is based in the state of Colorado reported a total holdings of 3.48 million shares.

EQT Midstream Partners, LP owns, operates, acquires and develops midstream assets in the Appalachian Basin. The company has a market cap of $5.03 billion. The Partnership provides all of its natural gas transmission, storage and gathering services under contracts with long-term, firm reservation and/or usage fees. It has 14.02 P/E ratio. The Partnership’s activities are primarily focused in southwestern Pennsylvania and northern West Virginia, a location in the core of the developing natural gas shale play known as the Marcellus Shale.

According to Zacks Investment Research, “EQT Midstream Partners, LP is formed to own, operate, acquire and develop midstream assets in the Appalachian Basin. The Company provides substantially all of its natural gas transmission, storage and gathering services under contracts with fixed reservation and/or usage fees. It operates primarily in the Marcellus Shale area of southern Pennsylvania and northern West Virginia. EQT Midstream Partners, LP is based in Pittsburgh, Pennsylvania.”