ValuEngine Lowers EQT GP (EQGP) to Sell

ValuEngine downgraded shares of EQT GP (NYSE:EQGP) from a hold rating to a sell rating in a research note released on Monday morning.

A number of other equities analysts also recently weighed in on EQGP. JPMorgan Chase raised 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. Zacks Investment Research downgraded EQT GP from a buy rating to a hold rating in a research report on Wednesday, January 3rd. Credit Suisse Group initiated coverage on EQT GP in a research report on Thursday, January 4th. They set an outperform rating and a $32.00 price target for the company. Bank of America initiated coverage on EQT GP in a research report on Tuesday, January 9th. They set a buy rating for the company. Finally, Citigroup reaffirmed a neutral rating and set a $31.50 price target on shares of EQT GP in a research report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $31.27.

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NYSE:EQGP traded down $0.40 during trading hours on Monday, reaching $22.64. 10,713 shares of the stock were exchanged, compared to its average volume of 138,706. EQT GP has a twelve month low of $21.05 and a twelve month high of $31.76. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.54. The company has a market cap of $6,076.55, a P/E ratio of 23.30, a price-to-earnings-growth ratio of 1.14 and a beta of 1.26.

EQT GP (NYSE:EQGP) last released its quarterly earnings results on Thursday, February 15th. The oil and gas company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.02). EQT GP had a return on equity of 12.52% and a net margin of 31.41%. The firm had revenue of $224.51 million for the quarter. analysts anticipate that EQT GP will post 1.11 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EQGP. Chickasaw Capital Management LLC boosted its holdings in shares of EQT GP by 3.8% in the 4th quarter. Chickasaw Capital Management LLC now owns 3,313,307 shares of the oil and gas company’s stock valued at $89,128,000 after buying an additional 121,868 shares during the last quarter. Cramer Rosenthal Mcglynn LLC acquired a new stake in shares of EQT GP in the 4th quarter valued at approximately $3,140,000. Deutsche Bank AG boosted its holdings in shares of EQT GP by 222.9% in the 4th quarter. Deutsche Bank AG now owns 99,683 shares of the oil and gas company’s stock valued at $2,681,000 after buying an additional 68,808 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of EQT GP by 8.0% in the 4th quarter. Jennison Associates LLC now owns 877,764 shares of the oil and gas company’s stock valued at $23,612,000 after buying an additional 65,310 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of EQT GP in the 4th quarter valued at approximately $1,611,000. 10.05% of the stock is owned by institutional investors.

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About EQT GP

EQT GP Holdings LP owns the general partner interest, incentive distribution rights, and portion of limited partnert interests in EQT Midstream Partners, LP. The company was founded in January 2015 and is headquartered in Pittsburgh, PA.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for EQT GP (NYSE:EQGP)

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