EQT Midstream Partners Q4 Profit Rises - Quick Facts

(RTTNews) - EQT Midstream Partners LP (EQM), an EQT Corporation (EQT) company, reported fourth-quarter net income of $74.66 million or $1.12 per unit, compared to $46.66 million or $0.62 per unit, prior year.

On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $1.01 for the quarter. Analysts' estimates typically exclude special items.

Operating revenues increased to $112.14 million from $81.01 million last year. Analysts expected revenue of $108.21 million for the quarter.

The Partnership announced a quarterly cash distribution of $0.58 per unit for the fourth quarter of 2014. The distribution will be paid on February 13, 2015 to all unitholders of record at the close of business on February 3, 2015.

The Partnership forecasts first-quarter adjusted EBITDA of $82 - $87 million and reiterated full-year 2015 forecasted adjusted EBITDA of $330 - $345 million, and distributable cash flow of $280 - $295 million. The Partnership expects to continue to increase the per unit distribution by a minimum of $0.03 each quarter through at least 2016.