EQT GP Holdings, LP (EQGP) Rating Lowered to Strong Sell at BidaskClub

EQT GP Holdings, LP (NYSE:EQGP) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Wednesday.

A number of other research analysts have also weighed in on EQGP. Royal Bank Of Canada reissued a “buy” rating and set a $37.00 price target on shares of EQT GP Holdings, in a research report on Tuesday, October 10th. Scotiabank reissued a “hold” rating and set a $32.00 price target on shares of EQT GP Holdings, in a research report on Wednesday, October 4th. Seaport Global Securities assumed coverage on shares of EQT GP Holdings, in a research report on Tuesday, October 10th. They set a “buy” rating and a $37.00 price target on the stock. Stifel Nicolaus reissued a “hold” rating and set a $28.00 price target on shares of EQT GP Holdings, in a research report on Friday, September 1st. Finally, Barclays PLC lowered shares of EQT GP Holdings, from an “overweight” rating to an “equal weight” rating and dropped their price target for the company 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 stock has an average rating of “Hold” and a consensus price target of $32.86.

Shares of EQT GP Holdings, (EQGP) opened at 27.35 on Wednesday. The firm has a market capitalization of $7.28 billion, a price-to-earnings ratio of 30.90 and a beta of 1.31. The firm has a 50-day moving average of $28.84 and a 200 day moving average of $27.80. EQT GP Holdings, has a 52 week low of $21.45 and a 52 week high of $31.76.

EQT GP Holdings, (NYSE:EQGP) last released its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. EQT GP Holdings, had a net margin of 30.65% and a return on equity of 11.72%. The company had revenue of $199.00 million for the quarter, compared to analyst estimates of $194.49 million. During the same period last year, the firm earned $1.27 earnings per share. The firm’s revenue was up 11.8% on a year-over-year basis. On average, equities analysts predict that EQT GP Holdings, will post $0.94 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its holdings in EQT GP Holdings, by 7.3% during the first quarter. JPMorgan Chase & Co. now owns 4,635 shares of the oil and gas company’s stock worth $127,000 after buying an additional 315 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in EQT GP Holdings, by 7.4% during the second quarter. The Manufacturers Life Insurance Company now owns 8,032 shares of the oil and gas company’s stock worth $242,000 after buying an additional 556 shares during the last quarter. Citadel Advisors LLC purchased a new stake in EQT GP Holdings, during the second quarter worth about $428,000. Conning Inc. purchased a new stake in EQT GP Holdings, during the second quarter worth about $435,000. Finally, Franklin Resources Inc. increased its holdings in EQT GP Holdings, by 3.3% during the second quarter. Franklin Resources Inc. now owns 26,640 shares of the oil and gas company’s stock worth $803,000 after buying an additional 840 shares during the last quarter. Institutional investors and hedge funds own 10.23% 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.

Analyst Recommendations for EQT GP Holdings, (NYSE:EQGP)

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