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.

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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.

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