Scotiabank reaffirmed their hold rating on shares of EQT GP Holdings, LP (NYSE:EQGP) in a research note released on Wednesday, October 4th. They currently have a $32.00 price target on the oil and gas company’s stock.
Other research analysts have also issued research reports about the stock. Stifel Nicolaus reiterated a hold rating and issued a $25.00 price objective on shares of EQT GP Holdings, in a research note on Friday, July 21st. Barclays PLC lowered shares of EQT GP Holdings, from an overweight rating to an equal weight rating and dropped their price target for the stock from $32.00 to $30.00 in a research note on Tuesday, July 18th. BidaskClub upgraded shares of EQT GP Holdings, from a sell rating to a hold rating in a research note on Friday, June 30th. Finally, Morgan Stanley reaffirmed an overweight rating and set a $31.00 price objective (up from $30.00) on shares of EQT GP Holdings, in a report 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 issued a buy rating to the stock. EQT GP Holdings, currently has an average rating of Hold and an average target price of $32.86.
Shares of EQT GP Holdings, (NYSE EQGP) traded up 0.34% during mid-day trading on Wednesday, reaching $29.81. The company’s stock had a trading volume of 21,751 shares. The company’s 50-day moving average is $29.04 and its 200-day moving average is $27.79. EQT GP Holdings, has a 52 week low of $21.45 and a 52 week high of $31.76. The stock has a market capitalization of $7.93 billion, a price-to-earnings ratio of 33.68 and a beta of 1.31.
EQT GP Holdings, (NYSE:EQGP) last released its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.05. The firm had revenue of $199.00 million for the quarter, compared to analyst estimates 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 for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.27 EPS. Equities analysts predict that EQT GP Holdings, will post $0.94 EPS for the current year.
Several institutional investors have recently made changes to their positions in EQGP. Neuberger Berman Group LLC increased its position in EQT GP Holdings, by 8.6% in the 2nd quarter. Neuberger Berman Group LLC now owns 6,558,667 shares of the oil and gas company’s stock valued at $197,744,000 after acquiring an additional 520,351 shares in the last quarter. Marshall Wace North America L.P. acquired a new stake in EQT GP Holdings, in the 2nd quarter valued at about $3,041,000. Bank of Montreal Can increased its position in EQT GP Holdings, by 60.8% in the 2nd quarter. Bank of Montreal Can now owns 246,000 shares of the oil and gas company’s stock valued at $7,417,000 after acquiring an additional 93,000 shares in the last quarter. Driehaus Capital Management LLC acquired a new stake in EQT GP Holdings, in the 1st quarter valued at about $1,578,000. Finally, HighTower Advisors LLC acquired a new stake in EQT GP Holdings, in the 1st quarter valued at about $819,000. Institutional investors and hedge funds own 10.27% of the company’s stock.
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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