EQT GP Holdings LP (EQGP) Rating Increased to Buy at Zacks Investment Research
EQT GP Holdings LP (NYSE:EQGP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The brokerage presently has a $28.00 price objective on the stock. Zacks Investment Research’s price target would suggest a potential upside of 10.89% from the stock’s previous close.
According to Zacks, “EQT GP Holdings, LP is a limited partnership which is engaged in owning, operating, acquiring and developing midstream assets primarily in the Appalachian Basin through its subsidiaries. EQT GP Holdings, LP is based in Pittsburgh, Pennsylvania. “
Separately, Wolfe Research started coverage on shares of EQT GP Holdings in a research note on Friday, October 7th. They set an “outperform” rating for the company. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $28.44.
Shares of EQT GP Holdings (NYSE:EQGP) opened at 25.25 on Monday. The stock has a market capitalization of $6.72 billion, a P/E ratio of 36.33 and a beta of 1.30. EQT GP Holdings has a 12 month low of $17.39 and a 12 month high of $27.74. The company’s 50-day moving average is $25.23 and its 200 day moving average is $25.29.
EQT GP Holdings (NYSE:EQGP) last issued its earnings results on Thursday, July 28th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.03. The firm earned $172 million during the quarter, compared to analyst estimates of $171.03 million. EQT GP Holdings had a net margin of 27.71% and a return on equity of 11.98%. The business’s revenue was up 18.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.12 earnings per share. Equities research analysts predict that EQT GP Holdings will post $0.75 earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in the company. Signaturefd LLC increased its position in shares of EQT GP Holdings by 3.1% in the second quarter. Signaturefd LLC now owns 6,725 shares of the company’s stock worth $171,000 after buying an additional 200 shares in the last quarter. Alps Advisors Inc. purchased a new position in shares of EQT GP Holdings during the second quarter worth approximately $239,000. Avalon Advisors LLC purchased a new position in shares of EQT GP Holdings during the first quarter worth approximately $253,000. Hollencrest Securities LLC purchased a new position in shares of EQT GP Holdings during the second quarter worth approximately $339,000. Finally, Cypress Wealth Advisors LLC increased its position in shares of EQT GP Holdings by 0.3% in the first quarter. Cypress Wealth Advisors LLC now owns 14,925 shares of the company’s stock worth $403,000 after buying an additional 50 shares in the last quarter. Institutional investors and hedge funds own 10.12% of the company’s stock.
EQT GP Holdings Company Profile
EQT GP Holdings, LP (EQGP) is a limited partnership company and subsidiary of EQT Gathering Holdings, LLC (EQT Gathering Holdings). The Company is formed to own EQT Corporation’s (EQT’s) partnership interests in EQT Midstream Partners, LP (EQM), a limited partnership formed by EQT to own, operate, acquire and develop midstream assets in the Appalachian Basin.
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