EQM Midstream (EQM) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.

(Bloomberg Opinion) -- For better or worse, the latest developments from the coronavirus outbreak have focused a lot of investor attention on the U.S. stock market. That makes sense, given that the S&P 500 Index set a record high just a week ago but then fell more than 2.5% in consecutive sessions for the first time since 2015; President Donald Trump and aide Larry Kudlow are suggesting that investors buy the dip.The $16.7 trillion U.S. Treasuries market doesn’t offer much guidance on whether the swift risk-off reaction is justified. As I wrote earlier this week, no record is safe in the world’s biggest bond market with so much uncertainty about how the coronavirus will dent the global economy. But just as important, Treasuries have been rallying for more than a year, even as equities soared, in no small part because of longer-term concerns about global growth, inflation and the limitations of developed-market monetary policy near the lower bound of interest rates. It shouldn’t be all that shocking that the benchmark 10-year yield touched 1.31% on Tuesday, a new low.What, then, can investors use to gauge risk tolerance in markets? I’d suggest corporate bonds, which offer some clues that there’s more pain ahead.Just like stocks, the credit markets reached unprecedented levels toward the end of 2019. On Dec. 18, the difference between double-B and triple-B corporate bond yields fell to just 38 basis points, the smallest on record. That meant investors were hardly differentiating between securities rated below investment-grade — otherwise known as junk — and those that still maintained investment-grade quality. I asked at the time: What does a junk bond even mean anymore?I wasn’t the only one shaking my head at that spread. Jeffrey Gundlach, DoubleLine Capital’s chief investment officer, highlighted the phenomenon during his annual “Just Markets” webcast last month, calling double-B corporate debt “one of the worst investments in the bond market.” “I think you’re much better off owning triple-B — I don’t even like triple-B — but I don’t like double-B corporate bonds,” he said on Jan. 7. Just to hammer home the point, he added: “Stay away from double-B corporates is my message.”Any trader who heeded that advice has won big in the past several weeks. The spread between double-B and triple-B bonds is now 127 basis points, the widest in more than six months. It jumped 19 basis points on Tuesday, 22 basis points on Monday and 21 basis points on Jan. 27, three days dominated by investor angst over the spread of the coronavirus. The only other comparable moves in the past year came in August, when U.S. recession fears peaked.Gundlach called the widening since December “a big crack in risk asset confidence” in a Twitter post on Monday.Charts with a left and right Y-axis are often imperfect, but comparing that yield spread to the S&P 500 since the end of 2017 shows a tight fit, especially during bouts of risk-aversion like the final months of 2018 and in August 2019. Corporate bonds retreated from their extremes at a much sharper pace than U.S. equities this time around, which isn’t entirely out of the ordinary but supports the idea that the steep drop in stocks wasn’t just a short-term blip.Now, as I’ve noted before, some technical factors are at play in corporate-bond indexes. For example, part of the reason the yield spread between double-B and triple-B bonds narrowed so much in 2019 was because triple-B duration rose while double-B duration dropped by the most on record. The duration of the double-B index spiked higher earlier this month, which, all else equal, would tend to widen the spread, though it didn’t appear to do so.Also of note: Debt from Kraft Heinz Co., EQM Midstream Partners LP and EQT Corp. remains in the triple-B index for now, even though the ratings of all three companies were cut to junk recently. Again, in theory, bonds from “fallen angels” would have higher yields than before the downgrades, which would narrow the spread between double-Bs and triple-Bs. All told, it’s probably safe to conclude that these factors are small enough and slow-moving enough that they don’t alter short-term spread movements very much.As of Feb. 24, the option-adjusted spread on double-B bonds has jumped to 2.62 percentage points from 1.82 percentage points to start the year, while the spread on triple-Bs is up to 1.35 percentage points from 1.2 percentage points. For some context, those spreads reached 3.65 percentage points and 1.68 percentage points, respectively, during the height of the December 2018 market squeeze. That suggests the high-yield market in particular could be in store for further pain if sentiment doesn’t turn around soon.As for the U.S. investment-grade market, companies aren’t taking any chances with new deals, even with Treasury yields setting record lows. Bloomberg News’s Michael Gambale reported that at least four issuers stood down on Tuesday, marking the first two-day break to start a week since July 1 and July 2.(1)That’s hardly a vote of confidence from the C-suite on the state of the financial markets.The follow-through from stocks to credit is worth watching in the coming days and weeks. As much as traders like to quip that the Federal Reserve is most concerned about the S&P 500, or as much as they use Treasury yields to estimate how many interest-rate cuts are “priced in” for the year, ultimately a lack of market access for companies that need it is a truly perilous situation.Recall that December 2018 marked the first month in 10 years with no speculative-grade bond sales. The Fed quickly pivoted in January 2019 — but what if looser monetary policy isn’t as effective this time around? Lower short-term interest rates mean relatively little in comparison to the Centers for Disease Control and Prevention telling Americans to prepare for significant disruptions of daily life if the coronavirus outbreak begins to spread locally in the U.S., deeming it “not a matter of if, but a question of when, this will exactly happen.”Without a drastic shift in what’s known about the coronavirus, corporate-bond buyers may need to take a similar approach. It no longer seems a matter of if, but of when, spreads widen further in the riskiest corners of the debt markets.(1) He excluded the December holidays and the typical two-week summer hiatus in late August in this analysis.To contact the author of this story: Brian Chappatta at bchappatta1@bloomberg.netTo contact the editor responsible for this story: Daniel Niemi at dniemi1@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Brian Chappatta is a Bloomberg Opinion columnist covering debt markets. He previously covered bonds for Bloomberg News. He is also a CFA charterholder.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a national securities firm headquartered at the Empire State Building in New York City, is investigating EQM Midstream Partners, LP ("EQM" or the "Company") (NYSE: EQM) relating to the sale of the Company to Equitrans Midstream Corporation. Under the terms of the agreement, each outstanding EQM common unit will be converted into the right to receive 2.44 shares of Equitrans Midstream common stock.

On the call today are Tom Karam, Chairman and CEO; Diana Charletta, President and Chief Operating Officer; Kirk Oliver, Senior Vice President and Chief Financial Officer; Justin Macken, Senior Vice President, Gas Systems Planning and Engineering; and Brian Pietrandrea, Vice President and Chief Accounting Officer. After the prepared remarks we will open the call to questions.

Moore Kuehn, PLLC, a securities litigation law firm located on Wall Street in downtown New York City, is investigating potential claims concerning whether the following proposed mergers are fair to shareholders. Moore Kuehn may ultimately seek increased consideration, additional disclosures, or other relief and benefits on behalf of the shareholders of these companies:

WILMINGTON, Del., April 22, 2020 -- Rigrodsky & Long, P.A. announces that it has filed a class action complaint in the United States District Court for the District of.

Equitrans Midstream Corporation (NYSE: ETRN) and EQM Midstream Partners, LP (NYSE: EQM), today, announced financial and operational results for the first quarter 2020.

Shares of EQM Midstream Partners (NYSE:EQM) rose 3.9% in pre-market trading after the company reported Q1 results.Quarterly Results Earnings per share fell 15.38% year over year to $1.32, which beat the estimate of $0.91.Revenue of $453,113,000 higher by 16.25% year over year, which beat the estimate of $397,200,000.Looking Ahead EQM Midstream Partners hasn't issued any earnings guidance for the time being.Revenue guidance hasn't been issued by the company for now.Conference Call Details Date: May 14, 2020View more earnings on EQMTime: 07:56 PM ETWebcast URL: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=&eventid=2161448&sessionid=1&key=8F0B0F490906FB35220AF4F2F353324D®Tag=&sourcepage=registerRecent Stock Performance Company's 52-week high was at $46.48Company's 52-week low was at $7.34Price action over last quarter: Up 0.92%Company Description EQM Midstream Partners LP owns, operates, acquires and develops midstream assets in the Appalachian Basin. It provides midstream services to EQT and third parties in the Appalachian Basin across counties in Pennsylvania and West Virginia through two assets, the transmission, and storage system and the gathering system. The company's transmission and storage system included an approximately 700-mile Federal Energy Regulatory Commission (FERC)-regulated interstate pipeline that connects to five interstate pipelines and multiple distribution companies. The transmission system is supported by associated natural gas storage reservoirs with approximately 400 MMcf per day of peak withdrawal capacity and 32 Bcf of working gas capacity and 27 compressor units.See more from Benzinga * Wix.com: Q1 Earnings Insights * Recap: Kemet Q4 Earnings * Recap: Sapiens Intl Q1 Earnings(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Let's see if EQT Midstream (EQM) stock is a good choice for value-oriented investors right now from multiple angles.

Bragar Eagel & Squire, P.C., a nationally recognized stockholder law firm, has launched an investigation into whether the board members of EQM Midstream Partners, LP (EQM) breached their fiduciary duties or violated the federal securities laws in connection with the company’s proposed sale to Equitrans Midstream Corporation. On February 27, 2020, EQM announced that it had signed an agreement to be acquired by Equitrans.

EQM Midstream Partners, LP (NYSE: EQM) and certain of its affiliates today announced that their respective 2019 unitholder tax packages are now available online. Mailing of the EQM tax package is expected to begin on March 20, 2020. Online availability details are as follows:

EQM Midstream Partners, LP (NYSE: EQM) declared a quarterly cash distribution of $0.3875 per common unit for the first quarter of 2020. The distribution will be paid on May 14, 2020 to all EQM common unitholders of record at the close of business on May 5, 2020.

Q4 2019 EQM Midstream Partners LP and Equitrans Midstream Corp Earnings Call

Equitrans Midstream Corporation (NYSE: ETRN) and EQM Midstream Partners, LP (NYSE: EQM) will release their first quarter 2020 earnings on Thursday, May 14, 2020, and will also host a conference call with analysts and investors at 10:30 am (ET). A brief Q&A session for ETRN and EQM security analysts will immediately follow the results discussion.

Trading Thursday seems like a microcosm of this market. U.S. stocks set new all-time highs in the morning. After major indices stumbled midday amid rising fears, investors once again bought the dip. Those indices did close in the red, but maintain a chance to close the week strong.Source: Shutterstock This simply seems like a more volatile market, even if volatility as measured by the CBOE S&P 500 Volatility Index is well within the historical range. And it's definitely been a split market, with tech continuing to rise while sectors like energy and retail struggle. * 7 Failing Tech Stocks to Disconnect From Now Friday's big stock charts look at three names that highlight year-to-date trading. All three stocks have made big moves so far this year. They represent three of the sectors with the most consistent -- if not necessarily positive -- performance. Interestingly, they might all have a path to at least a bounce, and maybe significant upside.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Twilio (TWLO)Source: Provided by Finviz There's a lot going on in the first of Friday's big stock charts. But from a technical perspective, at least, there's a case that the rally in Twilio (NYSE:TWLO) stock should continue: * The bullish case is that TWLO's 29% YTD rally can push the stock through resistance. The gains have created an ascending triangle pattern. A "golden cross" probably is on the way, with the 50-day moving average crossing the 200-day. TWLO probably needs more volume for that indicator to be taken seriously, but that aside there's still a solid uptrend established going back to early November lows. * The bearish case is that resistance has held around $131 repeatedly going back to last summer. Volatile trading since a mixed earnings report early this month doesn't look all that bullish. While a golden cross looms, TWLO could see a bearish inverted head-and-shoulders pattern as well. Even the uptrend looks more like a narrowing ascending wedge, often a reversal pattern. * Net/net, however, the chart looks bullish, particularly in the context of this market. Investors simply have found reasons to buy growth stocks in tech, despite valuation worries. At more than 15x trailing twelve-month revenue, Twilio has those worries. But the company has assuaged past fears about customer concentration and was one of the best stocks in the first half of 2019. It has a chance to be one of the best names in 2020 as well. VF Corporation (VFC)Source: Provided by Finviz As the second of our big stock charts shows, investors have decided that apparel maker V.F. Corporation (NYSE:VFC) is a buy under $85. The only question is if fundamental worries will change that sentiment: * Support has held repeatedly just below the current price of $84 going back to last spring. More recently, since plunging following a fiscal third quarter earnings miss last month, VFC has established a multiple bottom. The combination suggests a rally is likely at some point, particularly if the market as a whole takes another leg higher. * The one technical concern, however, matches the fundamental worries. Recent trading looks like a flag/pennant formation -- a continuation pattern. Meanwhile, V.F. Corp. has shown disappointing performance of late. Q2 earnings in October led to a sell-off. It's not as if the business is in disarray: full-year earnings per share guidance came down just pennies after the third quarter. But the Timberland brand is struggling, and the company hasn't quite delivered the numbers investors have expected. That combination raises risk ahead of the fourth quarter earnings report, likely due in May, * For now, however, VFC looks intriguing. This still is a company guiding for 16-18% growth in EPS this year -- while trading at a little over 25x updated guidance. That's a combination not available with too many stocks in this market. As long as that holds, VFC stock likely does as well. EQM Midstream Partners (EQM)Source: Provided by Finviz Lower natural gas prices have led shares of EQM Midstream Partners (NYSE:EQM) to plunge. But the third of Friday's big stock charts shows a recent bounce that could continue: * At the very least, we've been here before. EQM stock rallied almost 40% from similar levels in December. A dividend yield now over 20% might bring in investors. And while lower natural gas prices are a long-term risk, they shouldn't directly impact near-term volumes. Unless production plunges or customers go bankrupt, EQM's earnings should be able to at least hold up. With EQT Corporation (NYSE:EQT) the largest customer, customer bankruptcy risk looks manageable. * Click to Enlarge Source: Provided by Finviz One point worth noting: EQM isn't alone. The charts of other natural gas pipeline operators like Antero Midstream (NYSE:AM) and EnLink Midstream (NYSE:ENLC) look rather similar. Those stocks actually have higher yields, at 24% and 22%, respectively. Those other charts, and yields, show that there is some sector-wide logic to the weakness in EQM. * Still, there's a case that at least some investors are mistaking natural gas price weakness for future volume weakness. And there's a case that value buyers might again step in. Price and yield alone don't make a bull case, particularly in this market. Still, EQM and its peers look awfully cheap.Vince Martin has covered the financial industry for close to a decade for InvestorPlace.com and other outlets. He has no positions in any securities mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Failing Tech Stocks to Disconnect From Now * 5 Ideal Dividend Stocks for New Investors * 4 Stocks to Buy No Matter Who Wins the 2020 Election The post 3 Big Stock Charts for Friday: Twilio, VF Corp, and EQM Midstream appeared first on InvestorPlace.

Q1 2020 EQM Midstream Partners LP and Equitrans Midstream Corp Earnings Call

Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ("KSF") are investigating the proposed sale of EQM Midstream Partners, LP (NYSE: EQM) to Equitrans Midstream Corporation (NYSE: ETRN). Under the terms of the proposed transaction, shareholders of EQM will receive only 2.44 shares of ETRN for each share of EQM that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.

Investors need to pay close attention to EQT Midstream (EQM) stock based on the movements in the options market lately.

NEW YORK, April 09, 2020 -- If you own shares in any of the companies listed above and would like to discuss our investigations or have any questions concerning this notice.