EQT GP Holdings LP (EQGP) Shares Sold by Tortoise Capital Advisors L.L.C.
Tortoise Capital Advisors L.L.C. lowered its stake in EQT GP Holdings LP (NYSE:EQGP) by 69.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 554,702 shares of the oil and gas company’s stock after selling 1,261,206 shares during the quarter. Tortoise Capital Advisors L.L.C. owned about 0.18% of EQT GP worth $11,554,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Parkside Financial Bank & Trust purchased a new stake in EQT GP in the 3rd quarter worth $226,000. Alps Advisors Inc. increased its holdings in shares of EQT GP by 116.4% in the 3rd quarter. Alps Advisors Inc. now owns 74,044 shares of the oil and gas company’s stock worth $1,542,000 after buying an additional 39,820 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of EQT GP by 9.5% in the 2nd quarter. Bank of Montreal Can now owns 323,000 shares of the oil and gas company’s stock worth $7,594,000 after buying an additional 28,000 shares during the last quarter. PEAK6 Investments L.P. bought a new stake in shares of EQT GP in the 2nd quarter worth about $326,000. Finally, FMR LLC increased its holdings in shares of EQT GP by 42.9% in the 2nd quarter. FMR LLC now owns 360,800 shares of the oil and gas company’s stock worth $8,482,000 after buying an additional 108,300 shares during the last quarter. Institutional investors and hedge funds own 8.83% of the company’s stock.
A number of analysts have recently weighed in on EQGP shares. Morgan Stanley reduced their target price on shares of EQT GP from $26.00 to $24.00 and set a “buy” rating on the stock in a report on Tuesday, October 30th. Jefferies Financial Group upgraded shares of EQT GP from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Friday, November 9th. Stifel Nicolaus started coverage on shares of EQT GP in a report on Tuesday, September 18th. They issued a “hold” rating and a $22.00 target price on the stock. Zacks Investment Research upgraded shares of EQT GP from a “sell” rating to a “hold” rating in a report on Monday, July 30th. Finally, Credit Suisse Group set a $19.00 target price on shares of EQT GP and gave the stock a “hold” rating in a report on Tuesday, October 30th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $26.00.
EQT GP (NYSE:EQGP) last issued its quarterly earnings results on Thursday, October 25th. The oil and gas company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.03). The firm had revenue of $364.58 million for the quarter, compared to the consensus estimate of $361.93 million. EQT GP had a net margin of 30.96% and a return on equity of 10.93%. As a group, equities analysts forecast that EQT GP Holdings LP will post 1.29 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 23rd. Investors of record on Friday, November 2nd will be issued a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 7.81%. This is an increase from EQT GP’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Thursday, November 1st. EQT GP’s dividend payout ratio is presently 128.57%.
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EQT GP Profile
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.
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