EQM Midstream Partners Q3 Profit Rises

(RTTNews) - EQM Midstream Partners LP (EQM) reported that its third-quarter Limited partner interest in net income increased to $128.09 million from $102.81 million last year. But, earnings per share declined to $1.14 from $1.28 in the prior year.

Operating revenues for the quarter grew to $364.58 million from $206.29 million last year.

For the third quarter of 2018, EQM will pay a quarterly cash distribution of $1.115 per unit, which will be paid on November 14, 2018 to EQM unitholders of record at the close of business on November 2, 2018. The quarterly cash distribution is 2% higher than the second quarter of 2018 and is 14% higher than the third quarter of 2017.

EQM expects net income for 2018 to be in the range of $930 million - $950 million.