Zacks Investment Research downgraded shares of EQT GP Holdings LP (NYSE:EQGP) from a buy rating to a hold rating in a report published on Tuesday.

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 began coverage on shares of EQT GP Holdings in a research report on Friday, October 7th. They issued an outperform rating for the company. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $27.25.

Shares of EQT GP Holdings (NYSE:EQGP) opened at 24.05 on Tuesday. The stock’s 50 day moving average price is $24.05 and its 200 day moving average price is $25.02. The firm has a market capitalization of $6.40 billion, a price-to-earnings ratio of 32.02 and a beta of 1.33. EQT GP Holdings has a one year low of $17.39 and a one year high of $27.74.

EQT GP Holdings (NYSE:EQGP) last issued its quarterly earnings data on Thursday, October 27th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.01. EQT GP Holdings had a net margin of 29.00% and a return on equity of 11.41%. The company earned $170.80 million during the quarter, compared to the consensus estimate of $144.61 million. During the same quarter last year, the company earned $0.14 earnings per share. EQT GP Holdings’s revenue for the quarter was up 14.8% on a year-over-year basis. Analysts expect that EQT GP Holdings will post $0.78 EPS for the current fiscal year.

WARNING: “EQT GP Holdings LP (EQGP) Downgraded by Zacks Investment Research to Hold” was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this news story on another website, it was illegally stolen and republished in violation of US and international trademark and copyright legislation. The original version of this news story can be accessed at https://www.thecerbatgem.com/2016/11/30/eqt-gp-holdings-lp-eqgp-downgraded-by-zacks-investment-research-to-hold.html.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 22nd. Investors of record on Friday, November 4th were paid a dividend of $0.165 per share. The ex-dividend date was Wednesday, November 2nd. This is a boost from EQT GP Holdings’s previous quarterly dividend of $0.15. This represents a $0.66 annualized dividend and a yield of 2.74%. EQT GP Holdings’s dividend payout ratio (DPR) is 88.00%.

Institutional investors have recently made changes to their positions in the company. Signaturefd LLC boosted its stake in 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 during the last quarter. The Manufacturers Life Insurance Company bought a new stake in EQT GP Holdings during the third quarter worth about $189,000. Alps Advisors Inc. bought a new stake in EQT GP Holdings during the second quarter worth about $239,000. Avalon Advisors LLC bought a new stake in EQT GP Holdings during the first quarter worth about $253,000. Finally, Hollencrest Securities LLC bought a new stake in EQT GP Holdings during the second quarter worth about $339,000. Hedge funds and other institutional investors own 9.89% of the company’s stock.

About EQT GP Holdings

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.

5 Day Chart for NYSE:EQGP

Receive News & Stock Ratings for EQT GP Holdings LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQT GP Holdings LP and related stocks with our FREE daily email newsletter.