Miss EQM's $43.50 Secondary But Think It's A Buy At $40?

Looking back to 51 days ago, EQT Midstream Partners LP (NYSE: EQM) priced a 11,000,000 share secondary stock offering at $43.50 per share. Buyers in that offering made a considerable investment into the company, expecting that their investment would go up over the course of time and based on early trading on Friday, the stock is now 9.1% above the offering price. It should be noted that investors at the secondary have collected $0.40/share in dividends since the time of their purchase, so they a...