EQT Midstream Partners, LPNYSE
Wed, Nov. 16, 2:27 PM
- Based on the debatable supposition that spending on maintenance can be equated with safety, CFRA energy research chief Stewart Glickman offers his four favorite energy pipeline companies ranked by spending on maintenance as a percentage of total assets during 2011-15.
- Glickman calculates $148M in maintenance spending at EQT Midstream Partners (EQM -3%) during the period comprised 10.8% of its average assets, ranking at the top of 23 companies reviewed; the firm rates units as a Buy.
- Spectra Energy Partners (SEP -1.4%) owns 15K-plus miles of transmission and transportation pipelines, and maintenance spending of $1.31B comprised 9.4% of its average assets, ranking second; units are not rated at CFRA.
- Magellan Midstream (MMP -1.7%) owns and operates the longest common carrier pipeline system for refined products and liquefied petroleum gases in the U.S., and its $377M in maintenance spending equaled 7.6% of average assets, ranking third; MMP is rated a Strong Buy.
- Maintenance spending at Enable Midstream Partners (ENBL -1.4%) totaling $619M comprised 6.1% of its average assets, ranking fourth; unit are rated Hold.
Thu, Oct. 27, 7:51 AM
- EQT Corp. (NYSE:EQT) says President Steven Schlotterbeck will become its new CEO, succeeding David Porges upon his planned retirement in Q1 2017.
- Upon Porges’ retirement, Schlotterbeck also will become CEO of both EQT Midstream Partners (NYSE:EQM) and EQT GP Holdings (NYSE:EQGP).
- Schlotterbeck joined EQT in 2000, holding various engineering and management positions until 2008, when he became a VP; in December 2015, he was named President of EQT, while also serving as President of exploration and production.
Thu, Oct. 27, 6:37 AM
Wed, Oct. 26, 5:30 PM
- ABB, ABMD, ACOR, AET, ALLE, ALV, ALXN, AMT, APD, ASPS, AUO, AVT, AXTA, BBW, BC, BCOR, BGCP, BMS, BMY, BWA, BX, CBG, CCMP, CELG, CFX, CHH, CL, CLF, CMC, CME, CMS, COLB, COP, COR, CRI, CRR, CRS, CVE, CVI, CVRR, CWT, CYS, DFT, DLX, DOW, DPS, EME, EPD, EQGP, EQM, EQT, EXLS, F, FCFS, FCN, FMS, GCI, GLOP, GNC, GOV, GTLS, HCA, HEES, I, IDA, IDCC, IP, IPGP, IRDM, IVZ, LANC, LAZ, LKQ, LLL, MD, MDP, MDXG, MHO, MJN, MO, MPC, MPLX, MSCI, MTH, MTRN, NEWM, NMR, NOK, NOV, NTCT, ODFL, ORI, PATK, PENN, PF, PJC, POT, PRLB, PTEN, PX, QSII, RDN, RGS, ROCK, RTN, SCG, SEE, SFE, SILC, SIRI, SMP, SQNS, SRPT, STM, SUP, SWK, TCK, TDC, TFX, THRM, TKR, TMO, TPH, TPX, TREE, TROW, TUES, TWTR, TZOO, UAN, UFS, UPS, UTHR, VC, VLP, WCC, WEX, WST, WWE, XEL, XRS, YNDX
Tue, Oct. 25, 5:48 PM
Fri, Oct. 14, 10:08 AM
- EQT Midstream Partners (EQM +0.9%) agrees to acquire the Allegheny Valley Connector transmission and storage system and several Marcellus gathering systems from EQT Corp. (EQT -0.2%) for $275M.
- AVC includes 209 miles of transmission pipeline and 11B cf of working gas storage capacity, and the AVC system has 450M cf/day of transmission capacity; it is fully contracted for the winter season by Pennsylvania's Peoples Natural Gas under firm reservation commitment which expires in 2034.
- Analysts at Stifel estimate the deal is $0.43/unit accretive to EQM unitholders, and raises its price target on the units to $82 from $78.
Thu, Aug. 11, 6:36 PM
- The outlook for most energy MLPs remains risky because of further declines in commodity prices due to oversupply and potential for a slowdown in China, Credit Suisse says in a report that's no better than neutral on the group.
- But the firm still suggests four MLP favorites, including EQT Midstream (NYSE:EQM) because of its 20%-plus three-year distribution compound annual growth return outlook with upside from rising Utica volumes, as well as low leverage and no direct commodity exposure.
- Credit Suisse also recommends Genesis Energy (NYSE:GEL), with distribution growth of ~10% expected for the next several years; Tallgrass Energy Partners (NYSE:TEP), which it considers a top distribution grower (20%-plus) over the next few years; and Boardwalk Pipeline Partners (NYSE:BWP), thanks in part to new growth from potential conversion of coal-fired plants to gas along BWP’s systems that will drive higher gas volumes.
Thu, Jul. 28, 6:39 AM
Wed, Jul. 27, 5:30 PM
- AB, ABMD, ACIW, ACOR, ADP, AEP, ALKS, ALLE, ALXN, AMT, APD, ARIA, AZN, BC, BCC, BCO, BCOR, BEN, BG, BGCP, BHI, BMS, BMY, BSX, BWA, BWEN, BZH, CAB, CBG, CBM, CELG, CFX, CIT, CL, CLF, CLFD, CME, CMS, COMM, COP, COR, CRR, CRS, CS, CSH, CVI, CVRR, CWT, DBD, DFT, DLX, DOW, DSX, EME, EPD, EQM, EQT, EXLS, F, FCFS, FCN, FI, FIG, FITB, FLY, FSS, GLOP, GNC, GOV, GPI, GPN, GRUB, GTLS, HCA, HEES, HOG, HP, HSY, HTH, IART, IDA, IGT, INCR, INGR, IP, IPGP, IRDM, ITC, ITG, IVC, IVZ, KEM, LAD, LAZ, LDOS, LEA, LKQ, LLL, LPG, MA, MCS, MD, MDP, MDWD, MINI, MITK, MJN, MKTX, MMC, MNRO, MPC, MPLX, MSCI, MTH, MTRN, MVIS, NAP, NEWM, NICE, NMR, NOV, NTCT, NYT, OAK, ODFL, ORI, OSK, PAG, PCG, PES, PF, PJC, PNR, POT, PRLB, PTEN, PX, RDN, RDS.A, RPM, RTN, SCG, SEE, SERV, SFE, SPB, SPGI, SQBG, SQNS, STNG, SXC, SXCP, TCK, TFX, TGI, THRM, TKR, TMO, TPX, TREE, TRI, TZOO, UAN, UBSI, UTHR, VC, VGR, VIVO, VNTV, WCC, WILN, WRLD, WST, WWE, YNDX, ZBH
Tue, Jul. 26, 5:27 PM
Thu, Apr. 28, 6:49 AM
- EQT Midstream Partners (NYSE:EQM): Q1 EPS of $1.39 beats by $0.20.
- Revenue of $168.5M (+17.3% Y/Y) misses by $0.84M.
Wed, Apr. 27, 5:30 PM
- AB, ABBV, ACOR, ADP, AEP, AET, AIT, ALKS, ALLE, ALXN, AME, APD, ASPS, AUO, AVT, AXTA, BC, BCOR, BG, BLL, BMS, BMY, BOFI, BWA, BWEN, BXLT, BZH, CAB, CAH, CBG, CCE, CELG, CHTR, CIT, CL, CLF, CLFD, CME, CMS, COMM, COP, COR, CRCM, CRI, CRR, CSH, CVI, CVRR, CWT, CY, DBD, DFT, DLX, DNKN, DOW, DPZ, EME, EPD, EQM, EQT, F, FCFS, FCN, GEO, GLOP, GNC, GOV, GTLS, GWR, HAR, HEES, HHS, HMC, HUN, I, IDA, IDCC, INGR, INSY, INT, IPGP, IQNT, IRDM, IRM, ITC, ITCI, IVC, IVZ, KERX, LANC, LBY, LKQ, LVLT, MA, MD, MDP, MHO, MINI, MITK, MJN, MMC, MO, MPC, MPLX, MSCI, MTH, NEE, NEWM, NOV, OAK, ODFL, ORI, OSK, PF, PJC, POT, PPL, PRLB, PTEN, QSR, RGS, RTIX, RTN, RUTH, SABR, SCG, SEE, SFE, SIRI, SNAK, SNE, SPB, SPIL, SQNS, TFX, THRM, TMO, TOWR, TPX, TWC, TZOO, UAN, UBSI, UFS, UPS, UTHR, VA, VAC, VC, VIAB, VIVO, WCC, WM, WNS, WST, XRS, YNDX, ZBH
Tue, Apr. 26, 5:50 PM
- EQT Midstream Partners (NYSE:EQM) declares $0.745/share quarterly dividend, 4.9% increase from prior dividend of $0.71.
- Forward yield 3.88%
- Payable May 13; for shareholders of record May 6; ex-div May 4.
Wed, Mar. 30, 7:09 AM
- February monthly performance was: +1%
- 52-week performance vs. the S&P 500 is: -38%
- No dividends were paid in February
- Top 10 Holdings as of 12/31/2015: Enterprise Products Partners LP (EPD): 18.36%, Energy Transfer Partners LP (ETP): 10.13%, Magellan Midstream Partners LP (MMP): 8.69%, MPLX LP (MPLX): 5.14%, Buckeye Partners LP (BPL): 4.11%, Plains All American Pipeline LP (PAA): 3.95%, Sunoco Logistics Partners LP (SXL): 3.86%, EQT Midstream Partners LP (EQM): 3.84%, Enbridge Energy Partners LP (EEP): 3.57%, Williams Partners LP (WPZ): 3.49%
Thu, Mar. 17, 5:55 PM
- EQT Corp. (NYSE:EQT) names Robert McNally as its new CFO, effective Mar 21; his most recent previous position was executive VP and CFO of Precision Drilling.
- McNally also is appointed as CFO of EQT Midstream Partners (NYSE:EQM) and EQT GP Holdings (NYSE:EQGP).
- Current CFO Philip Conti already had announced his intention to retire in 2016.
Thu, Feb. 25, 7:25 PM
- Morgan Stanley analyst Tom Abrams sees improvement in the MLP multiple compression that has weighed on the group throughout the oil downturn, and the firm expands its MLP coverage by initiating ratings on several midstream names.
- While MLP prices could yet fall to new lows, Abrams believes progress has been made in approaching a bottom; however, he says investors should continue to avoid MLPs with overly-levered balance sheets, funding issues, weak cash flows and high distribution risk.
- Initiated with an Overweight rating: BPL, PSXP, VLP, DM, CPPL.
- Initiated at Equal Weight: MMP, CPGX, EQGP, EQM, WGP, WES, NS, NSH.
- Initiated at Underweight: EEP, ENBL, EEQ, MEP.