EQT GP Holdings LP (EQGP) Given Average Rating of “Buy” by Brokerages
Shares of EQT GP Holdings LP (NYSE:EQGP) have received a consensus rating of “Hold” from the nine research firms that are presently covering the company. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $27.30.
Several analysts have issued reports on EQGP shares. Wolfe Research started coverage on EQT GP Holdings in a research note on Friday, October 7th. They issued an “outperform” rating on the stock. Zacks Investment Research upgraded EQT GP Holdings from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research note on Monday, October 17th.
Shares of EQT GP Holdings (NYSE:EQGP) traded up 1.66% during mid-day trading on Wednesday, hitting $24.45. The company had a trading volume of 66,894 shares. EQT GP Holdings has a one year low of $17.39 and a one year high of $27.74. The company’s 50-day moving average is $24.05 and its 200 day moving average is $25.02. The company has a market capitalization of $6.51 billion, a PE ratio of 32.56 and a beta of 1.33.
EQT GP Holdings (NYSE:EQGP) last issued its earnings results 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. The firm had revenue of $170.80 million for the quarter, compared to analyst estimates of $144.61 million. EQT GP Holdings had a return on equity of 11.41% and a net margin of 29.00%. The business’s revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 earnings per share. On average, equities research analysts forecast that EQT GP Holdings will post $0.78 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 22nd. Stockholders of record on Friday, November 4th were given a $0.165 dividend. 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 dividend yield of 2.74%. EQT GP Holdings’s payout ratio is 88.00%.
Institutional investors have recently made changes to their positions in the stock. Nuveen Asset Management LLC boosted its position in EQT GP Holdings by 10.5% in the first quarter. Nuveen Asset Management LLC now owns 55,572 shares of the company’s stock valued at $1,499,000 after buying an additional 5,303 shares during the last quarter. Avalon Advisors LLC acquired a new position in EQT GP Holdings during the first quarter valued at approximately $253,000. BNP Paribas Arbitrage SA boosted its position in EQT GP Holdings by 2.7% in the second quarter. BNP Paribas Arbitrage SA now owns 43,593 shares of the company’s stock valued at $1,111,000 after buying an additional 1,145 shares during the last quarter. Hollencrest Securities LLC acquired a new position in EQT GP Holdings during the second quarter valued at approximately $339,000. Finally, Bank of Montreal Can acquired a new position in EQT GP Holdings during the second quarter valued at approximately $2,476,000. Institutional investors own 9.89% of the company’s stock.
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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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