Boston, MA 06\/16\/2014 (wallstreetpr) \u2013\u00a0<\/b>Acquirer and developer of midstream assets in the Appalachian Basin, EQT Midstream Partners LP (NYSE:EQM) <\/b>shares witnessed a significant surge on Friday driven by some of the positive factors recently. The volume of trading too was significant and represented four times more than the previous day trading. The company will also be added into Alerian MLP Infrastructure Index.<\/p>\n
Alerian MLP Infrastructure Index<\/b><\/p>\n
The company\u2019s stock has been included in the index to take effect after the closure of the market on June 20. It will replace TC PipeLines, LP (NYSE:TCP)<\/b> in the index. Following this, TC PipeLines witnessed a downtick on Friday\u2019s trading.<\/p>\n
The index has 25 constituents and the addition of EQT Midstream Partners LP (NYSE:EQM)\u00a0will rebalance on a float-adjusted, capped, and capitalization-weighted basis in tune with the current methodology of the index. However, the addition or deletion from the index does not reflect any opinion about the merits of the respective companies\u2019 securities, Alerian clarified.<\/p>\n
Stock Price<\/b><\/p>\n
In the current month, shares of EQT Midstream recorded a growth of 15% and the rise in price was slow but steady. However, following the news of its addition in the index, the stock spurted as much as 7.1% during the intraday trading on June 13 to hit a yearly high of $96.35 before closing at $94.47 representing an increase of 4.98% over the closing price of $89.99 on June 12. The stock closed significantly higher than the 50-day and 200-day moving averages of $80.64 and $67.85 respectively.<\/p>\n
The volume of 1.09 million shares on Friday represented over four times higher than the preceding day trading of only 204.9K shares and compared to the 3-month average volume of 236.7K shares.<\/p>\n
Earnings Revision<\/b><\/p>\n
Street analysts\u2019 average earnings estimate has been revised upwards during the last three month period for both the second quarter, as well as, the current year. For instance, analysts\u2019 expected earnings of 61 cents a share for the second quarter and $2.65 a share for the current year three months back. Their current estimation is 79 cents a share and $3.15 a share for the same period. Similarly, a month ago, they were predicting 75 cents a share and $3.11 a share for the second quarter and full year respectively.<\/p>\n
In addition, RBC Capital has lifted its price tag on EQT Midstream Partners LP (NYSE:EQM)\u00a0shares to $107.00 from $90.00 leaving further room for upside potential.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 06\/16\/2014 (wallstreetpr) \u2013\u00a0Acquirer and developer of midstream assets in the Appalachian Basin, EQT Midstream Partners LP (NYSE:EQM) shares witnessed a significant surge on […]<\/p>\n","protected":false},"author":32,"featured_media":25854,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[5750,5751,6813,6811],"stock_ticker":[],"class_list":["post-25851","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-eqt-midstream-partners-lp-nyseeqm","tag-nyseeqm","tag-nysetcp","tag-tc-pipelines-lp-nysetcp","entry"],"acf":[],"yoast_head":"\n