Shares of EQT GP Holdings LP (NYSE:EQGP) have been assigned an average recommendation of “Hold” from the fifteen analysts that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $25.92.
A number of research firms have weighed in on EQGP. Mitsubishi UFJ Financial Group downgraded EQT GP from an “overweight” rating to a “neutral” rating in a research report on Thursday, October 25th. Jefferies Financial Group upgraded EQT GP from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Friday. Zacks Investment Research upgraded EQT GP from a “sell” rating to a “hold” rating in a research report on Monday, July 30th. ValuEngine downgraded EQT GP from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 2nd. Finally, Morgan Stanley lowered their price target on EQT GP from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, October 30th.
NYSE EQGP traded up $0.22 during trading hours on Friday, reaching $16.12. 11,591 shares of the stock traded hands, compared to its average volume of 256,922. EQT GP has a 1 year low of $15.36 and a 1 year high of $30.73. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of 16.48 and a beta of 1.43.
EQT GP (NYSE:EQGP) last released its quarterly earnings results on Thursday, October 25th. The oil and gas company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.03). EQT GP had a net margin of 30.96% and a return on equity of 10.93%. The firm had revenue of $364.58 million for the quarter, compared to analysts’ expectations of $361.93 million. On average, equities analysts expect that EQT GP will post 1.28 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Friday, November 2nd will be issued a $0.315 dividend. The ex-dividend date is Thursday, November 1st. This represents a $1.26 annualized dividend and a dividend yield of 7.82%. This is an increase from EQT GP’s previous quarterly dividend of $0.31. EQT GP’s payout ratio is currently 128.57%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in EQGP. Kayne Anderson Capital Advisors LP increased its holdings in shares of EQT GP by 24.2% in the third quarter. Kayne Anderson Capital Advisors LP now owns 1,417,422 shares of the oil and gas company’s stock worth $29,513,000 after buying an additional 275,945 shares during the period. Spirit of America Management Corp NY increased its holdings in shares of EQT GP by 292.6% in the second quarter. Spirit of America Management Corp NY now owns 263,791 shares of the oil and gas company’s stock worth $6,202,000 after buying an additional 196,602 shares during the period. Chickasaw Capital Management LLC increased its holdings in shares of EQT GP by 5.5% in the second quarter. Chickasaw Capital Management LLC now owns 3,573,049 shares of the oil and gas company’s stock worth $84,002,000 after buying an additional 184,702 shares during the period. Dividend Assets Capital LLC purchased a new position in shares of EQT GP in the second quarter worth about $3,794,000. Finally, FMR LLC increased its holdings in shares of EQT GP by 42.9% in the second quarter. FMR LLC now owns 360,800 shares of the oil and gas company’s stock worth $8,482,000 after buying an additional 108,300 shares during the period. Hedge funds and other institutional investors own 8.94% of the company’s stock.
About EQT GP
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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