EQT GP Holdings LP (EQGP) Now Covered by Analysts at Wolfe Research
Separately, Zacks Investment Research upgraded shares of EQT GP Holdings from a strong sell rating to a hold rating in a research report on Tuesday, July 12th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $28.44.
Shares of EQT GP Holdings (NYSE:EQGP) opened at 25.17 on Friday. The stock’s 50 day moving average is $25.32 and its 200 day moving average is $25.30. The stock has a market cap of $6.70 billion, a PE ratio of 36.22 and a beta of 1.30. EQT GP Holdings has a 52-week low of $17.39 and a 52-week high of $27.94.
EQT GP Holdings (NYSE:EQGP) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.03. The business earned $172 million during the quarter, compared to analyst estimates of $171.03 million. EQT GP Holdings had a net margin of 27.71% and a return on equity of 11.98%. The company’s revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.12 earnings per share. Equities research analysts forecast that EQT GP Holdings will post $0.75 earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased its position in EQT GP Holdings by 2.7% in the second quarter. BNP Paribas Arbitrage SA now owns 43,593 shares of the company’s stock valued at $1,111,000 after buying an additional 1,145 shares during the period. Avalon Advisors LLC bought a new position in EQT GP Holdings during the first quarter valued at approximately $253,000. Barclays PLC increased its position in EQT GP Holdings by 23.1% in the first quarter. Barclays PLC now owns 126,424 shares of the company’s stock valued at $3,287,000 after buying an additional 23,739 shares during the period. Silvercrest Asset Management Group LLC increased its position in EQT GP Holdings by 125.4% in the first quarter. Silvercrest Asset Management Group LLC now owns 297,331 shares of the company’s stock valued at $8,019,000 after buying an additional 165,435 shares during the period. Finally, Nuveen Asset Management LLC increased its position in EQT GP Holdings by 10.5% in the first quarter. Nuveen Asset Management LLC now owns 55,572 shares of the company’s stock valued at $1,499,000 after buying an additional 5,303 shares during the period. 10.14% of the stock is currently owned by hedge funds and other institutional investors.
EQT GP Holdings Company Profile
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.
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