RBC Capital Reiterates a Buy Rating on EQT MidstreamBy Jason Carr
According to TipRanks.com, Scotto is a top 25 analyst with an average return of 24.6% and a 75.3% success rate. Scotto covers the Basic Materials sector, focusing on stocks such as American Midstreampartners Lp, Sanchez Production Partners, and Enbridge Energy Management.
EQT Midstream has an analyst consensus of Strong Buy, with a price target consensus of $98.
Based on EQT Midstream’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $195 million and quarterly net profit of $106 million. In comparison, last year the company earned revenue of $166 million and had a net profit of $94.41 million.
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EQT Midstream Partners LP owns, operates, acquires, and develops midstream assets in the Appalachian Basin. It operates through the Transmission and Storage, and Gathering Systems segments. The Transmission and Storage System segment handles approximately 700-mile Federal Energy Regulatory Commission (FERC)-regulated interstate pipeline that connects to five interstate pipelines and multiple distribution companies. The Gathering System segment include approximately 185 miles of high pressure gathering lines with approximately 1.4 Bcf per day of total firm gathering capacity and multiple interconnect points with EQM’s transmission and storage system. The company was founded on January 18, 2012 and is headquartered in Pittsburgh, PA.