EQT GP Holdings LP (NYSE:EQGP) has earned an average rating of “Hold” from the fourteen brokerages that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $30.67.
A number of analysts have commented on the stock. Bank of America cut shares of EQT GP from a “buy” rating to a “neutral” rating in a report on Wednesday. Zacks Investment Research raised shares of EQT GP from a “sell” rating to a “hold” rating in a report on Friday, March 16th. Morgan Stanley reduced their target price on shares of EQT GP from $30.00 to $28.00 and set an “overweight” rating for the company in a report on Friday, March 16th. Wells Fargo reaffirmed a “market perform” rating and set a $31.00 target price on shares of EQT GP in a report on Wednesday, February 21st. Finally, Seaport Global Securities cut shares of EQT GP from a “buy” rating to a “neutral” rating in a report on Tuesday, February 20th.
Several hedge funds and other institutional investors have recently made changes to their positions in EQGP. Chickasaw Capital Management LLC increased its stake in shares of EQT GP by 3.8% in the fourth quarter. Chickasaw Capital Management LLC now owns 3,313,307 shares of the oil and gas company’s stock worth $89,128,000 after purchasing an additional 121,868 shares in the last quarter. Cramer Rosenthal Mcglynn LLC purchased a new stake in shares of EQT GP in the fourth quarter worth $3,140,000. Deutsche Bank AG increased its stake in shares of EQT GP by 222.9% in the fourth quarter. Deutsche Bank AG now owns 99,683 shares of the oil and gas company’s stock worth $2,681,000 after purchasing an additional 68,808 shares in the last quarter. Jennison Associates LLC increased its stake in shares of EQT GP by 8.0% in the fourth quarter. Jennison Associates LLC now owns 877,764 shares of the oil and gas company’s stock worth $23,612,000 after purchasing an additional 65,310 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of EQT GP during the fourth quarter worth $1,611,000. 10.05% of the stock is owned by hedge funds and other institutional investors.
EQT GP (NYSE:EQGP) last announced its earnings results on Thursday, February 15th. The oil and gas company reported $0.26 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.02). EQT GP had a net margin of 31.41% and a return on equity of 12.52%. The business had revenue of $224.51 million for the quarter. analysts anticipate that EQT GP will post 1.11 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 2nd were paid a $0.244 dividend. The ex-dividend date of this dividend was Thursday, February 1st. This is a boost from EQT GP’s previous quarterly dividend of $0.23. This represents a $0.98 dividend on an annualized basis and a dividend yield of 4.38%. EQT GP’s dividend payout ratio is 100.00%.
About EQT GP
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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