EQT Midstream Partners (NYSE:EQM) released its second quarter earnings yesterday morning, reporting adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, of $57.2 million, and distributable cash flow of $52.6 million. There is always more to an earnings release than the headline numbers, however. Today we're going to take a closer look at EQT Midstream's second quarter results, drilling down on its distribution, coverage ratio, and distributable cash flow per unit figures in the slide show below. In addition, we'll touch base on a few key elements that management discussed on the earnings call.
Investors should also be aware that Standard & Poor's just assigned EQT Midstream Partners a BBB- credit rating. The agency cited the MLPs fee-based cash flows as a positive factor, and its limited geographic and asset footprint as negative's. S&P went on to say that EQT's credit rating will not improve unless parent-company EQT Corp.'s (NYSE:EQT) rating improves first.
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Aimee Duffy has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.