EQT GP Holdings LP (EQGP) Given Average Rating of “Hold” by Brokerages

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.

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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.

EQGP stock opened at $22.28 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.54. EQT GP has a twelve month low of $21.05 and a twelve month high of $31.76. The firm has a market cap of $5,866.28, a P/E ratio of 22.73, a PEG ratio of 1.10 and a beta of 1.29.

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%.

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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.

Analyst Recommendations for EQT GP (NYSE:EQGP)

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