EQT GP (EQGP) Sets New 12-Month Low at $19.51

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Shares of EQT GP Holdings LP (NYSE:EQGP) hit a new 52-week low during trading on Thursday . The stock traded as low as $19.51 and last traded at $19.63, with a volume of 2387 shares traded. The stock had previously closed at $19.71.

Several analysts have recently commented on EQGP shares. Zacks Investment Research downgraded shares of EQT GP from a “hold” rating to a “sell” rating in a research report on Wednesday, July 4th. Barclays reduced their price objective on shares of EQT GP from $29.00 to $26.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 11th. Morgan Stanley reduced their price objective on shares of EQT GP from $28.00 to $27.00 and set an “overweight” rating for the company in a research report on Friday, July 13th. Jefferies Financial Group started coverage on shares of EQT GP in a research report on Wednesday, July 25th. They set a “hold” rating and a $22.00 price objective for the company. Finally, Wells Fargo & Co reduced their price objective on shares of EQT GP from $28.00 to $26.00 and set a “market perform” rating for the company in a research report on Monday, July 30th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. EQT GP currently has a consensus rating of “Hold” and an average target price of $26.77.

The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.03. The stock has a market cap of $5.96 billion, a PE ratio of 19.41 and a beta of 1.12.

EQT GP (NYSE:EQGP) last posted its quarterly earnings results on Thursday, July 26th. The oil and gas company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. EQT GP had a net margin of 33.16% and a return on equity of 12.65%. The business had revenue of $269.76 million during the quarter. Equities research analysts anticipate that EQT GP Holdings LP will post 1.32 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Parkside Financial Bank & Trust acquired a new stake in EQT GP in the 3rd quarter valued at $226,000. Northern Trust Corp grew its position in EQT GP by 14.6% in the 2nd quarter. Northern Trust Corp now owns 47,050 shares of the oil and gas company’s stock valued at $1,106,000 after purchasing an additional 6,000 shares during the period. Lake Street Advisors Group LLC acquired a new stake in EQT GP in the 2nd quarter valued at $548,000. PEAK6 Investments L.P. acquired a new stake in EQT GP in the 2nd quarter valued at $326,000. Finally, FMR LLC grew its position in EQT GP 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 purchasing an additional 108,300 shares during the period. 9.05% of the stock is owned by institutional investors and hedge funds.

About EQT GP (NYSE:EQGP)

EQT GP 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.

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