Zacks Investment Research upgraded shares of EQT GP Holdings LP (NYSE:EQGP) from a hold rating to a buy rating in a report issued on Monday morning. Zacks Investment Research currently has $28.00 target price on the 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. “
Separately, Wolfe Research began coverage on EQT GP Holdings in a report on Friday, October 7th. They issued an outperform rating for the company. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $28.44.
EQT GP Holdings (NYSE:EQGP) traded down 0.48% during mid-day trading on Monday, hitting $24.68. The company’s stock had a trading volume of 5,561 shares. EQT GP Holdings has a 52-week low of $17.39 and a 52-week high of $27.74. The firm has a market cap of $6.57 billion, a price-to-earnings ratio of 35.51 and a beta of 1.30. The firm has a 50 day moving average of $25.26 and a 200-day moving average of $25.30.
EQT GP Holdings (NYSE:EQGP) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.03. The business earned $172 million during the quarter, compared to the consensus estimate of $171.03 million. EQT GP Holdings had a return on equity of 11.98% and a net margin of 27.71%. EQT GP Holdings’s quarterly revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.12 earnings per share. On average, equities research analysts expect that EQT GP Holdings will post $0.75 EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the stock. Alps Advisors Inc. bought a new position in EQT GP Holdings during the second quarter worth about $239,000. Bank of Montreal Can bought a new position in EQT GP Holdings during the second quarter worth about $2,476,000. Hollencrest Securities LLC bought a new position in EQT GP Holdings during the second quarter worth about $339,000. 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 worth $1,111,000 after buying an additional 1,145 shares during the period. Finally, Avalon Advisors LLC bought a new position in EQT GP Holdings during the first quarter worth about $253,000. 10.12% of the stock is currently owned by institutional investors and hedge funds.
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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