EQT Midstream Partners LP (EQM) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $1.39 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.18. Analysts had a consensus of $1.21. The company posted revenue of $180.60 million in the period, compared to analysts expectations of $167.42 million. The company’s revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.18 EPS.
Many Wall Street Analysts have commented on EQT Midstream Partners LP. EQT Midstream Partners LP was Initiated by Stifel to “Hold” on Mar 17, 2016. EQT Midstream Partners LP was Initiated by Morgan Stanley to “Equal-Weight” on Feb 25, 2016.
EQT Midstream Partners LP opened for trading at $77.86 and hit $79.265 on the upside on Wednesday, eventually ending the session at $77.58, with a gain of 0.91% or 0.7 points. The heightened volatility saw the trading volume jump to 2,39,966 shares. Company has a market cap of $6,014 M.
In a different news, on Mar 20, 2015, Michael A Bryson (director) purchased 1,000 shares at $75.00 per share price.
EQT Midstream Partners LP (the Partnership) owns operates acquires and develops midstream assets in the Appalachian Basin. The Partnership provides all of its natural gas transmission storage and gathering services under contracts with long-term firm reservation and/or usage fees. The Partnership’s operations 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. The Partnership provides midstream services to EQT Corporation (EQT) and multiple third parties across 21 counties in Pennsylvania and West Virginia through its two primary assets: the transmission and storage system which serves as a header system transmission pipeline and the gathering system which delivers natural gas from wells and other receipt points to transmission pipelines.