Citigroup Inc. Boosts Stake in EQT GP Holdings, LP (EQGP)

Citigroup Inc. boosted its holdings in EQT GP Holdings, LP (NYSE:EQGP) by 54.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,199 shares of the oil and gas company’s stock after buying an additional 10,959 shares during the period. Citigroup Inc.’s holdings in EQT GP Holdings, were worth $942,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of EQGP. JPMorgan Chase & Co. boosted its stake in EQT GP Holdings, by 7.3% in the 1st quarter. JPMorgan Chase & Co. now owns 4,635 shares of the oil and gas company’s stock valued at $127,000 after buying an additional 315 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in EQT GP Holdings, by 4.2% in the 1st quarter. Proficio Capital Partners LLC now owns 7,989 shares of the oil and gas company’s stock valued at $211,000 after buying an additional 320 shares in the last quarter. Conning Inc. acquired a new stake in EQT GP Holdings, in the 2nd quarter valued at $435,000. Franklin Resources Inc. boosted its stake in EQT GP Holdings, by 3.3% in the 2nd quarter. Franklin Resources Inc. now owns 26,640 shares of the oil and gas company’s stock valued at $803,000 after buying an additional 840 shares in the last quarter. Finally, HighTower Advisors LLC acquired a new stake in EQT GP Holdings, in the 1st quarter valued at $819,000. 10.27% of the stock is currently owned by institutional investors.

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Several equities analysts have issued reports on EQGP shares. Scotiabank set a $30.00 price objective on EQT GP Holdings, and gave the company a “hold” rating in a research report on Friday, July 21st. Morgan Stanley restated an “overweight” rating and set a $31.00 target price (up previously from $30.00) on shares of EQT GP Holdings, in a research report on Friday, July 14th. Stifel Nicolaus restated a “hold” rating and set a $25.00 target price on shares of EQT GP Holdings, in a research report on Friday, July 21st. BidaskClub downgraded EQT GP Holdings, from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. Finally, Barclays PLC downgraded EQT GP Holdings, from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $32.00 to $30.00 in a research report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $32.86.

EQT GP Holdings, LP (EQGP) opened at 29.71 on Tuesday. The firm has a market capitalization of $7.91 billion, a PE ratio of 33.57 and a beta of 1.31. EQT GP Holdings, LP has a 1-year low of $21.45 and a 1-year high of $31.76. The firm has a 50-day moving average price of $29.04 and a 200-day moving average price of $27.79.

EQT GP Holdings, (NYSE:EQGP) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.05. The business had revenue of $199.00 million for the quarter, compared to analysts’ expectations of $194.49 million. EQT GP Holdings, had a net margin of 30.65% and a return on equity of 11.72%. The company’s revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.27 EPS. Equities analysts expect that EQT GP Holdings, LP will post $0.94 earnings per share for the current fiscal year.

EQT GP Holdings, 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.

Institutional Ownership by Quarter for EQT GP Holdings, (NYSE:EQGP)

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