EQT GP Holdings LP (NYSE:EQGP) declared a quarterly dividend on Monday, January 22nd, Wall Street Journal reports. Investors of record on Friday, February 2nd will be given a dividend of 0.244 per share by the oil and gas company on Friday, February 23rd. This represents a $0.98 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend is Thursday, February 1st. This is a positive change from EQT GP’s previous quarterly dividend of $0.23.
EQT GP has a dividend payout ratio of 90.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect EQT GP to earn $1.16 per share next year, which means the company should continue to be able to cover its $0.91 annual dividend with an expected future payout ratio of 78.4%.
EQT GP (EQGP) opened at $27.95 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.52. The firm has a market cap of $7,543.12, a P/E ratio of 29.73, a P/E/G ratio of 1.36 and a beta of 1.19. EQT GP has a 1 year low of $24.18 and a 1 year high of $31.76.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research cut shares of EQT GP from a “hold” rating to a “sell” rating in a research report on Tuesday, January 16th. Citigroup reaffirmed a “neutral” rating and set a $31.50 price objective on shares of EQT GP in a research report on Monday, January 22nd. Seaport Global Securities assumed coverage on shares of EQT GP in a research report on Tuesday, October 10th. They set a “buy” rating and a $37.00 price objective for the company. Mitsubishi UFJ Financial Group reaffirmed an “overweight” rating on shares of EQT GP in a research report on Thursday, October 26th. Finally, Scotiabank reaffirmed a “hold” rating and set a $32.00 price objective on shares of EQT GP in a research report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $32.10.
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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.
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