Wells Fargo Starts EQT Midstream Partners, LP (EQM) at Outperform; Attractive Business Model

Wells Fargo initiates coverage on EQT Midstream Partners, LP (NYSE: EQM) with an Outperform. PT range $28-$30.

Analyst, Michael Blum, said, "In our view, EQM is poised to deliver an attractive total return given its (1) above average visible distribution growth potential, (2) strong sponsor support, (3) low risk fee-based business model, (4) geographic concentration in the high-growth Marcellus Shale, and (5) solid balance sheet. We forecast a five-year distribution CAGR of 12% predicated on (1) assumed dropdown acquisitions of $250 million per year and (2) estimated annual organic growth capex of $30 million."

For an analyst ratings summary and ratings history on EQT Midstream Partners, LP click here. For more ratings news on EQT Midstream Partners, LP click here.

Shares of EQT Midstream Partners, LP closed at $26.23 yesterday.

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