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Analyzing EQT Midstream Partners

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Nov. 20 2020, Updated 3:02 p.m. ET

EQT Midstream Partners

EQT Midstream Partners (EQM), a midstream MLP primarily involved in natural gas gathering, compression, and transportation, has an upside potential of 15.5% for the next 12 months. Analysts have given the company a target price of $66.6—compared to its current market price of $57.7.

Of the 15 analysts surveyed by Reuters that track EQT Midstream Partners, four recommended a “strong buy,” six recommended a “buy,” and five recommended a “hold.” None of the analysts had a “sell” recommendation on EQT Midstream Partners as of August 28.

Morgan Stanley cut EQT Midstream Partners’ target price from $65.0 to $61.0 on August 17. Stifel also trimmed the target price from $66.0 to $62.0.

The above chart shows how analysts’ views on EQT Midstream Partners have changed in 2018.

Although EQT Midstream Partners has shown a sharp uptrend in the last few weeks, it has lost more than 21% year-to-date. EQT Midstream Partners is trading at a distribution yield of 7.7%.

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Peers’ target prices

Buckeye Energy Partners (BPL) has a median target price of $40.62—compared to its current market price of $36.78, which indicates a potential upside of 10.3%.

Western Gas Partners (WES) offers a potential upside of 11% based on analysts’ median target price of $57.71. Currently, Western Gas Partners is trading at $52.15. Morgan Stanley cut Western Gas Partners’ target price from $52.0 to $51.0 on August 17.

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