EQT GP (NYSE:EQGP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors 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. “

A number of other equities research analysts have also recently weighed in on the stock. Bank of America assumed coverage on shares of EQT GP in a research report on Tuesday, January 9th. They set a “buy” rating for the company. Credit Suisse Group assumed coverage on shares of EQT GP in a research report on Thursday, January 4th. They set an “outperform” rating and a $32.00 price target for the company. JPMorgan Chase & Co. upgraded shares of EQT GP from a “neutral” rating to an “overweight” rating and set a $31.00 price target for the company in a research report on Thursday, December 14th. Mitsubishi UFJ Financial Group reiterated an “overweight” rating on shares of EQT GP in a research report on Thursday, October 26th. Finally, BidaskClub cut shares of EQT GP from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $32.40.

EQT GP (NYSE:EQGP) traded down $0.50 during trading on Tuesday, reaching $29.07. 106,700 shares of the company traded hands, compared to its average volume of 120,327. EQT GP has a 52-week low of $24.18 and a 52-week high of $31.76. The firm has a market capitalization of $7,870.50, a PE ratio of 30.93, a P/E/G ratio of 1.40 and a beta of 1.19. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.52.

EQT GP (NYSE:EQGP) last released its quarterly earnings data on Thursday, October 26th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.01. EQT GP had a net margin of 30.98% and a return on equity of 12.14%. The firm had revenue of $207.19 million during the quarter. research analysts anticipate that EQT GP will post 1.01 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in shares of EQT GP by 0.9% in the second quarter. JPMorgan Chase & Co. now owns 4,675 shares of the oil and gas company’s stock valued at $141,000 after purchasing an additional 40 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of EQT GP by 7.4% in the second quarter. The Manufacturers Life Insurance Company now owns 8,032 shares of the oil and gas company’s stock valued at $242,000 after purchasing an additional 556 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of EQT GP in the third quarter valued at approximately $245,000. Keybank National Association OH purchased a new position in shares of EQT GP in the third quarter valued at approximately $278,000. Finally, Citadel Advisors LLC purchased a new position in shares of EQT GP in the second quarter valued at approximately $428,000. 10.24% of the stock is owned by institutional investors and hedge funds.

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EQT GP 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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