Bank of America Begins Coverage on EQT GP (EQGP)

Equities researchers at Bank of America started coverage on shares of EQT GP (NYSE:EQGP) in a research report issued on Tuesday, January 9th, The Fly reports. The brokerage set a “buy” rating on the oil and gas company’s stock.

Several other brokerages also recently weighed in on EQGP. Mitsubishi UFJ Financial Group restated an “overweight” rating on shares of EQT GP in a research report on Thursday, October 26th. BidaskClub downgraded EQT GP from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 25th. Royal Bank of Canada restated a “buy” rating and set a $37.00 price objective on shares of EQT GP in a research report on Tuesday, October 10th. Scotiabank restated a “hold” rating and set a $32.00 price objective on shares of EQT GP in a research report on Wednesday, October 4th. Finally, JPMorgan Chase & Co. upgraded EQT GP from a “neutral” rating to an “overweight” rating and set a $31.00 price objective for the company in a research report on Thursday, December 14th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $32.40.

Shares of EQT GP (NYSE:EQGP) traded down $0.50 during midday trading on Tuesday, reaching $29.07. The company’s stock had a trading volume of 106,735 shares, compared to its average volume of 133,409. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.52. EQT GP has a 52-week low of $24.18 and a 52-week high of $31.76. The firm has a market cap of $7,865.18, a price-to-earnings ratio of 30.93, a price-to-earnings-growth ratio of 1.40 and a beta of 1.19.

EQT GP (NYSE:EQGP) last issued its quarterly earnings data on Thursday, October 26th. The oil and gas company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $207.19 million for the quarter. EQT GP had a return on equity of 12.14% and a net margin of 30.98%. research analysts expect that EQT GP will post 1.01 EPS for the current year.

Several hedge funds have recently modified their holdings of EQGP. ING Groep NV increased its stake in shares of EQT GP by 82.0% in the third quarter. ING Groep NV now owns 546,000 shares of the oil and gas company’s stock valued at $15,812,000 after buying an additional 246,000 shares during the period. 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 valued at $89,128,000 after buying an additional 121,868 shares during the period. Duff & Phelps Investment Management Co. increased its stake in shares of EQT GP by 13.5% in the third quarter. Duff & Phelps Investment Management Co. now owns 429,100 shares of the oil and gas company’s stock valued at $12,427,000 after buying an additional 51,000 shares during the period. Cadence Capital Management LLC acquired a new stake in shares of EQT GP in the third quarter valued at about $1,182,000. Finally, Citadel Advisors LLC acquired a new stake in shares of EQT GP in the second quarter valued at about $428,000. 10.24% of the stock is owned by institutional investors.

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EQT GP Company Profile

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.

The Fly

Analyst Recommendations for EQT GP (NYSE:EQGP)

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