Todays Report: Today, EQT GP Holdings LP (EQGP) Upgrade at The Zacks Investment Research

Today, EQT GP Holdings LP (EQGP) Upgrade at The Zacks Investment Research

Zacks Investment Research upgraded shares of EQT GP Holdings LP (NYSE:EQGP) from a hold rating to a buy rating in a research report released on Tuesday morning. The brokerage currently has $27.00 price objective on the stock.

According to Zacks, “EQT GP Holdings, LP is a limited partnership which is engaged in owning, operating, acquiring and developing midstream assets primarily in the Appalachian Basin through its subsidiaries. EQT GP Holdings, LP is based in Pittsburgh, Pennsylvania. “

Separately, Wolfe Research assumed coverage on EQT GP Holdings in a report on Friday, October 7th. They issued an outperform rating on the stock. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $27.25.

Shares of EQT GP Holdings (NYSE:EQGP) opened at 24.90 on Tuesday. The stock’s 50 day moving average price is $24.10 and its 200 day moving average price is $25.05. EQT GP Holdings has a one year low of $17.39 and a one year high of $27.74. The stock has a market capitalization of $6.63 billion, a PE ratio of 33.16 and a beta of 1.33.

EQT GP Holdings (NYSE:EQGP) last announced its quarterly earnings data on Thursday, October 27th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The business had revenue of $170.80 million for the quarter, compared to analyst estimates of $144.61 million. EQT GP Holdings had a return on equity of 11.41% and a net margin of 29.00%. The company’s revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.14 earnings per share. Equities research analysts predict that EQT GP Holdings will post $0.78 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 22nd. Shareholders of record on Friday, November 4th were issued a $0.165 dividend. This is a positive change from EQT GP Holdings’s previous quarterly dividend of $0.15. This represents a $0.66 annualized dividend and a yield of 2.65%. The ex-dividend date was Wednesday, November 2nd. EQT GP Holdings’s dividend payout ratio (DPR) is presently 88.00%.

A number of hedge funds have recently modified their holdings of EQGP. Signaturefd LLC raised its stake in shares of EQT GP Holdings by 3.1% in the second quarter. Signaturefd LLC now owns 6,725 shares of the company’s stock valued at $171,000 after buying an additional 200 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of EQT GP Holdings during the third quarter valued at approximately $189,000. Alps Advisors Inc. acquired a new stake in shares of EQT GP Holdings during the second quarter valued at approximately $239,000. Avalon Advisors LLC acquired a new stake in shares of EQT GP Holdings during the first quarter valued at approximately $253,000. Finally, Hollencrest Securities LLC acquired a new stake in shares of EQT GP Holdings during the second quarter valued at approximately $339,000. 9.46% of the stock is currently owned by institutional investors.

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 is 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.

Related posts

Leave a Comment