Zacks Investment Research upgraded shares of EQGP (NYSE:EQGP) from a hold rating to a buy rating in a report issued on Tuesday. The brokerage currently has $22.00 target price on the oil and gas company’s stock.

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 research analysts also recently commented on the company. ValuEngine downgraded EQGP from a sell rating to a strong sell rating in a report on Tuesday, October 23rd. Credit Suisse Group started coverage on EQGP in a report on Thursday, October 11th. They set a neutral rating and a $24.00 target price on the stock. US Capital Advisors raised EQGP from a hold rating to an overweight rating in a report on Wednesday, November 14th. Jefferies Financial Group raised EQGP from a hold rating to a buy rating and set a $20.00 target price on the stock in a report on Friday, November 9th. Finally, Stifel Nicolaus started coverage on EQGP in a report on Tuesday, September 18th. They set a hold rating and a $22.00 target price on the stock. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $24.08.

EQGP traded down $0.03 on Tuesday, reaching $19.97. The company’s stock had a trading volume of 533,556 shares, compared to its average volume of 520,425. The company has a market capitalization of $6.05 billion, a P/E ratio of 20.38 and a beta of 1.21. EQGP has a 1 year low of $15.36 and a 1 year high of $30.13. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.34 and a current ratio of 0.34.

EQGP (NYSE:EQGP) last issued its quarterly earnings results on Thursday, October 25th. The oil and gas company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.03). EQGP had a net margin of 30.96% and a return on equity of 10.93%. The business had revenue of $364.58 million during the quarter, compared to analysts’ expectations of $361.93 million. As a group, equities research analysts forecast that EQGP will post 1.25 earnings per share for the current fiscal year.

In related news, major shareholder Midstream Corp Equitrans purchased 15,364,421 shares of the company’s stock in a transaction dated Tuesday, December 31st. The shares were acquired at an average cost of $20.00 per share, for a total transaction of $307,288,420.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David L. Porges sold 56,263 shares of the stock in a transaction that occurred on Tuesday, December 18th. The stock was sold at an average price of $19.86, for a total value of $1,117,383.18. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 41,826,129 shares of company stock worth $836,522,580 and have sold 63,032 shares worth $1,252,883.

Several institutional investors have recently made changes to their positions in the company. Neuberger Berman Group LLC increased its position in EQGP by 18.8% in the 3rd quarter. Neuberger Berman Group LLC now owns 7,776,914 shares of the oil and gas company’s stock valued at $161,993,000 after acquiring an additional 1,231,905 shares during the period. Kayne Anderson Capital Advisors LP increased its position in EQGP by 24.2% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 1,417,422 shares of the oil and gas company’s stock valued at $29,513,000 after acquiring an additional 275,945 shares during the period. Zimmer Partners LP increased its position in EQGP by 3.2% in the 3rd quarter. Zimmer Partners LP now owns 1,026,208 shares of the oil and gas company’s stock valued at $21,376,000 after acquiring an additional 31,538 shares during the period. Advisory Research Inc. increased its position in EQGP by 15.9% in the 3rd quarter. Advisory Research Inc. now owns 653,584 shares of the oil and gas company’s stock valued at $13,614,000 after acquiring an additional 89,764 shares during the period. Finally, FMR LLC increased its position in EQGP by 42.9% in the 2nd quarter. FMR LLC now owns 360,800 shares of the oil and gas company’s stock valued at $8,482,000 after acquiring an additional 108,300 shares during the period. Institutional investors and hedge funds own 8.89% of the company’s stock.

EQGP Company Profile

EQGP Holdings, LP owns, operates, acquires, and develops midstream energy assets in the Appalachian Basin through owning partnership interests in EQT Midstream Partners, LP (EQM). The company operates in two segments, Gathering and Transmission. EQM offers natural gas transmission, storage, and gathering services to various third parties in Pennsylvania, West Virginia, and Ohio.

See Also: Systematic Risk

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Analyst Recommendations for EQGP (NYSE:EQGP)

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