EQT GP (EQGP) Downgraded to Sell at ValuEngine

ValuEngine lowered shares of EQT GP (NYSE:EQGP) from a hold rating to a sell rating in a research report sent to investors on Monday.

Several other brokerages have also recently issued reports on EQGP. Bank of America cut EQT GP from a buy rating to a neutral rating in a report on Wednesday, March 21st. Wells Fargo & Co reissued a market perform rating and issued a $31.00 price objective on shares of EQT GP in a report on Wednesday, February 21st. Zacks Investment Research raised EQT GP from a sell rating to a hold rating in a report on Friday, March 16th. Seaport Global Securities cut EQT GP from a buy rating to a neutral rating in a report on Tuesday, February 20th. Finally, Morgan Stanley decreased their price objective on EQT GP from $30.00 to $28.00 and set an overweight rating for the company in a report on Friday, March 16th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. EQT GP has a consensus rating of Hold and a consensus target price of $29.83.

Shares of EQGP opened at $25.57 on Monday. EQT GP has a one year low of $21.05 and a one year high of $31.76. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.59. The stock has a market cap of $6.70 billion, a price-to-earnings ratio of 26.09 and a beta of 1.23.

EQT GP (NYSE:EQGP) last issued its quarterly earnings results on Thursday, April 26th. The oil and gas company reported $0.30 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.03. EQT GP had a return on equity of 13.19% and a net margin of 32.58%. The company had revenue of $232.84 million during the quarter, compared to analysts’ expectations of $224.83 million. equities research analysts expect that EQT GP will post 1.14 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 24th. Investors of record on Friday, May 4th were issued a $0.258 dividend. This is a boost from EQT GP’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Thursday, May 3rd. This represents a $1.03 dividend on an annualized basis and a yield of 4.04%. EQT GP’s dividend payout ratio is presently 105.10%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Catalyst Capital Advisors LLC raised its holdings in EQT GP by 8.7% in the 1st quarter. Catalyst Capital Advisors LLC now owns 29,882 shares of the oil and gas company’s stock worth $690,000 after purchasing an additional 2,400 shares during the period. Alps Advisors Inc. raised its holdings in EQT GP by 8.8% in the 1st quarter. Alps Advisors Inc. now owns 30,581 shares of the oil and gas company’s stock worth $706,000 after purchasing an additional 2,462 shares during the period. Wells Fargo & Company MN raised its holdings in EQT GP by 4.7% in the 1st quarter. Wells Fargo & Company MN now owns 99,169 shares of the oil and gas company’s stock worth $2,289,000 after purchasing an additional 4,417 shares during the period. NBW Capital LLC increased its stake in EQT GP by 1.6% during the 1st quarter. NBW Capital LLC now owns 284,441 shares of the oil and gas company’s stock worth $6,565,000 after buying an additional 4,501 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in EQT GP during the 1st quarter worth approximately $215,000. 10.19% of the stock is owned by institutional investors.

About EQT GP

EQT GP Holdings, LP owns, operates, acquires, and develops midstream energy assets in the Appalachian Basin through owning partnership interests in EQT Midstream Partners, LP (EQM). The company operates in two segments, Gathering and Transmission. EQM offers natural gas transmission, storage, and gathering services to various third parties in Pennsylvania, West Virginia, and Ohio.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for EQT GP (NYSE:EQGP)

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