Powerful Stock to Increase Your Investments: EQM Midstream Partners, LP (NYSE: EQM)

EQM Midstream Partners, LP stock identified change of 15.68% away from 52-week low price and recently located move of -47.99% off 52-week high price. EQM stock has been recorded -10.49% away from 50 day moving average and -33.28% away from 200 day moving average. Moving closer, we can see that shares have been trading 6.78% off 20-day moving average.

Equitrans Midstream Corporation (ETRN) and EQM Midstream Partners, LP (EQM), recently, reported financial and operational results for the third quarter 2019.


ETRN reported net loss attributable to ETRN of $(65.8M) for the third quarter 2019; and ETRN will receive $136.0M in cash from its ownership in EQM. During the quarter, ETRN also directly incurred $0.3M of selling, general and administrative expenses.

For the third quarter 2019, net loss attributable to EQM was $(10.5M); adjusted EBITDA was $335.0M; net cash provided by operating activities was $234.6M; and distributable cash flow was $234.2M. The Non-GAAP Disclosures section of this news release provides reconciliations of non-GAAP financial measures from their most comparable GAAP financial measure.

ETRN and EQM net loss for the third quarter 2019 was influenced by a $298.7M impairment charge to goodwill and net intangible assets. ETRN also incurred a $6.8M impairment charge to deferred taxes related to the goodwill write-down. The impairments were primarily driven by lower forecast natural gas production growth behind the Rice Midstream Partners LP (RMP) gathering assets, which EQM purchased in July 2018, and the Eureka Midstream Holdings, LLC (Eureka) and Hornet Midstream Holdings, LLC (Hornet) gathering assets. EQM purchased 60% of Eureka and 100% of Hornet in April 2019.

For the third quarter 2019, EQM operating revenue increased by $43.9M, or 12.0%, contrast to the same quarter last year. The increase in revenue was primarily related to higher contracted firm gathering capacity and the addition of the Eureka and Hornet assets. Operating expenses increased by $308.4M contrast to the third quarter 2018, with $298.7M related to the impairment expense. The remaining increase was primarily related to the addition of the Eureka and Hornet assets, as well as higher gathering system throughput and additional assets placed in-service.

EQM’s third quarter 2018 results have been retrospectively recast to include the pre-acquisition results of RMP, which came under ordinary control in 2017.

EQM Midstream Partners, LP noticed change of -1.74% to $24.79 along volume of 1488400 shares in recent session compared to an average volume of 991.83K. EQM’s shares are at -21.80% for the quarter and driving a -47.17% return over the course of the past year and is now at -42.68% since this point in 2018.   The average volatility for the week at 4.56% and for month was at 3.56%. There are 198.94M shares outstanding and 77.51M shares are floated in market. Right now, the stock beta is 0.89.