Stifel Nicolaus Thinks EQT Midstream’s Stock is Going to Recover
Stifel Nicolaus analyst Timothy Howard maintained a Buy rating on EQT Midstream (NYSE: EQM) today and set a price target of $60. The company’s shares closed yesterday at $52.82, close to its 52-week low of $48.91.
According to TipRanks.com, Howard is a 1-star analyst with an average return of -3.8% and a 45.8% success rate. Howard covers the Basic Materials sector, focusing on stocks such as Antero Midstream Partners, EnLink Midstream Partners, and Black Stone Minerals.
Currently, the analyst consensus on EQT Midstream is a Moderate Buy with an average price target of $64.20.
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Based on EQT Midstream’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $91.39 million. In comparison, last year the company had a net profit of $103 million.
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EQT Midstream Partners LP engages in the ownership, operation, acquisition, and development of midstream assets in the Appalachian Basin. It operates through the Transmission and Gathering segments.