EQT GP Holdings, LP (EQGP) Receives Consensus Rating of “Hold” from Analysts
Shares of EQT GP Holdings, LP (NYSE:EQGP) have received an average rating of “Hold” from the nine analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $31.67.
Several research analysts recently issued reports on the stock. Barclays PLC lowered shares of EQT GP Holdings, from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $32.00 to $30.00 in a research report on Tuesday, July 18th. BidaskClub raised shares of EQT GP Holdings, from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Stifel Nicolaus reissued a “hold” rating and issued a $28.00 price target on shares of EQT GP Holdings, in a research report on Friday, September 1st. Scotiabank set a $30.00 price target on shares of EQT GP Holdings, and gave the stock a “hold” rating in a research report on Friday, July 21st. Finally, Morgan Stanley reissued an “overweight” rating and issued a $31.00 price target (up previously from $30.00) on shares of EQT GP Holdings, in a research report on Friday, July 14th.
Shares of EQT GP Holdings, (NYSE:EQGP) remained flat at $28.70 during mid-day trading on Tuesday. 148,663 shares of the stock were exchanged. EQT GP Holdings, has a 52-week low of $21.45 and a 52-week high of $31.76. The firm has a 50-day moving average price of $27.78 and a 200-day moving average price of $27.45. The stock has a market capitalization of $7.64 billion, a P/E ratio of 32.43 and a beta of 1.31.
EQT GP Holdings, (NYSE:EQGP) last released its earnings results on Thursday, July 27th. The oil and gas company reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.05. EQT GP Holdings, had a net margin of 30.65% and a return on equity of 11.72%. The business had revenue of $199 million during the quarter, compared to analysts’ expectations of $194.49 million. During the same quarter last year, the company earned $1.27 earnings per share. The firm’s revenue was up 11.8% on a year-over-year basis. On average, analysts anticipate that EQT GP Holdings, will post $0.95 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 23rd. Stockholders of record on Friday, August 4th were paid a dividend of $0.21 per share. This is a boost from EQT GP Holdings,’s previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a dividend yield of 2.93%. The ex-dividend date was Wednesday, August 2nd. EQT GP Holdings,’s dividend payout ratio is 94.38%.
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Hedge funds have recently made changes to their positions in the business. Neuberger Berman Group LLC boosted its stake in EQT GP Holdings, by 20.4% in the first quarter. Neuberger Berman Group LLC now owns 6,038,316 shares of the oil and gas company’s stock valued at $165,329,000 after acquiring an additional 1,021,156 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in EQT GP Holdings, by 4.2% in the first quarter. Proficio Capital Partners LLC now owns 7,989 shares of the oil and gas company’s stock valued at $211,000 after acquiring an additional 320 shares during the last quarter. Conning Inc. bought a new position in EQT GP Holdings, in the second quarter valued at approximately $435,000. HighTower Advisors LLC bought a new position in EQT GP Holdings, in the first quarter valued at approximately $819,000. Finally, Bank of Montreal Can boosted its stake in EQT GP Holdings, by 60.8% in the second quarter. Bank of Montreal Can now owns 246,000 shares of the oil and gas company’s stock valued at $7,417,000 after acquiring an additional 93,000 shares during the last quarter. 10.27% of the stock is currently owned by hedge funds and other institutional investors.
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 was 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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