EQT GP (NYSE:EQGP) was downgraded by Seaport Global Securities from a “buy” rating to a “neutral” rating in a report released on Tuesday.
A number of other analysts have also weighed in on EQGP. Zacks Investment Research lowered EQT GP from a “hold” rating to a “sell” rating in a research note on Friday, February 16th. Citigroup assumed coverage on EQT GP in a research note on Tuesday, January 23rd. They set a “hold” rating and a $32.00 price target on the stock. Credit Suisse Group assumed coverage on EQT GP in a research note on Thursday, January 4th. They set an “outperform” rating and a $32.00 price target on the stock. Royal Bank of Canada lowered EQT GP from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $29.00 to $32.00 in a research note on Monday, February 12th. Finally, Mitsubishi UFJ Financial Group restated an “overweight” rating on shares of EQT GP in a research note on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $31.55.
EQT GP (NYSE:EQGP) traded down $0.20 during mid-day trading on Tuesday, reaching $24.62. The company’s stock had a trading volume of 16,127 shares, compared to its average volume of 117,281. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.69 and a current ratio of 0.69. EQT GP has a twelve month low of $24.18 and a twelve month high of $31.76. The stock has a market capitalization of $6,710.02, a price-to-earnings ratio of 25.20, a price-to-earnings-growth ratio of 1.22 and a beta of 1.15.
EQT GP (NYSE:EQGP) last released its earnings results on Thursday, February 15th. The oil and gas company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.02). EQT GP had a return on equity of 12.52% and a net margin of 31.41%. The business had revenue of $224.51 million during the quarter. equities research analysts forecast that EQT GP will post 1.15 earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in EQT GP by 0.9% in the second quarter. JPMorgan Chase & Co. now owns 4,675 shares of the oil and gas company’s stock valued at $141,000 after purchasing an additional 40 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in EQT GP by 7.4% in the second quarter. The Manufacturers Life Insurance Company now owns 8,032 shares of the oil and gas company’s stock valued at $242,000 after purchasing an additional 556 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in EQT GP in the third quarter valued at about $245,000. Keybank National Association OH purchased a new position in EQT GP in the third quarter valued at about $278,000. Finally, Raymond James & Associates grew its stake in EQT GP by 199.2% in the fourth quarter. Raymond James & Associates now owns 25,477 shares of the oil and gas company’s stock valued at $685,000 after purchasing an additional 16,962 shares during the last quarter. Hedge funds and other institutional investors own 10.24% of the company’s stock.
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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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