Seaport Global Securities began coverage on shares of EQT GP Holdings, LP (NYSE:EQGP) in a research note released on Tuesday morning. The firm issued a buy rating and a $37.00 target price on the oil and gas company’s stock.
EQGP has been the topic of several other research reports. Barclays PLC downgraded EQT GP Holdings, from an overweight rating to an equal weight rating and decreased their price objective for the stock from $32.00 to $30.00 in a research note on Tuesday, July 18th. BidaskClub downgraded EQT GP Holdings, from a sell rating to a strong sell rating in a research note on Thursday, July 27th. Stifel Nicolaus reaffirmed a hold rating and issued a $28.00 price objective on shares of EQT GP Holdings, in a research note on Friday, September 1st. Scotiabank set a $30.00 price objective on EQT GP Holdings, and gave the stock a hold rating in a research note on Friday, July 21st. Finally, Morgan Stanley reissued an overweight rating and set a $31.00 target price (up previously from $30.00) on shares of EQT GP Holdings, in a research note on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. EQT GP Holdings, currently has an average rating of Hold and an average price target of $32.86.
Shares of EQT GP Holdings, (EQGP) traded up 0.84% during midday trading on Tuesday, hitting $29.90. The stock had a trading volume of 37,817 shares. The firm has a market cap of $7.96 billion, a price-to-earnings ratio of 8.45 and a beta of 1.31. The stock’s 50 day moving average price is $29.06 and its 200 day moving average price is $29.06. EQT GP Holdings, has a 12 month low of $21.45 and a 12 month high of $31.76.
EQT GP Holdings, (NYSE:EQGP) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.19 by $0.05. EQT GP Holdings, had a return on equity of 11.72% and a net margin of 30.65%. The firm had revenue of $199.00 million for the quarter, compared to the consensus estimate of $194.49 million. During the same quarter last year, the company earned $1.27 earnings per share. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, equities analysts forecast that EQT GP Holdings, will post $0.94 EPS for the current fiscal year.
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A number of large investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its stake in EQT GP Holdings, by 7.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,032 shares of the oil and gas company’s stock worth $242,000 after acquiring an additional 556 shares during the last quarter. NBW Capital LLC increased its stake in EQT GP Holdings, by 3.6% in the 2nd quarter. NBW Capital LLC now owns 296,927 shares of the oil and gas company’s stock worth $8,952,000 after acquiring an additional 10,442 shares during the last quarter. Citadel Advisors LLC bought a new stake in EQT GP Holdings, in the 2nd quarter worth approximately $428,000. Citigroup Inc. increased its stake in EQT GP Holdings, by 54.1% in the 2nd quarter. Citigroup Inc. now owns 31,199 shares of the oil and gas company’s stock worth $942,000 after acquiring an additional 10,959 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in EQT GP Holdings, by 1.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 52,328 shares of the oil and gas company’s stock worth $1,578,000 after acquiring an additional 650 shares during the last quarter. 10.27% of the stock is currently owned by institutional investors and hedge funds.
About EQT GP Holdings,
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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