Bank of America Begins Coverage on EQT GP (EQGP)
Bank of America began coverage on shares of EQT GP (NYSE:EQGP) in a research report released on Tuesday, The Fly reports. The brokerage issued a buy rating on the oil and gas company’s stock.
Several other brokerages also recently weighed in on EQGP. JPMorgan Chase & Co. upgraded EQT GP from a neutral rating to an overweight rating and set a $31.00 target price for the company in a research note on Thursday, December 14th. Royal Bank of Canada restated a buy rating and set a $37.00 target price on shares of EQT GP in a research note on Tuesday, October 10th. Credit Suisse Group initiated coverage on EQT GP in a research note on Thursday, January 4th. They set an outperform rating and a $32.00 target price for the company. BidaskClub downgraded EQT GP from a sell rating to a strong sell rating in a research note on Wednesday, October 25th. Finally, Scotiabank restated a hold rating and set a $32.00 target price on shares of EQT GP in a research note on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $32.40.
Shares of EQT GP (NYSE EQGP) traded down $0.10 during midday trading on Tuesday, hitting $29.60. The stock had a trading volume of 131,746 shares, compared to its average volume of 131,014. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $7,910.00 and a price-to-earnings ratio of 31.49. EQT GP has a fifty-two week low of $24.18 and a fifty-two week high of $31.76.
EQT GP (NYSE:EQGP) last issued its quarterly earnings data on Thursday, October 26th. The oil and gas company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.01. EQT GP had a return on equity of 12.14% and a net margin of 30.98%. The business had revenue of $207.19 million for the quarter. analysts predict that EQT GP will post 1.01 earnings per share for the current year.
Institutional investors have recently bought and sold shares of the stock. Cadence Capital Management LLC bought a new position in shares of EQT GP during the 3rd quarter worth approximately $1,182,000. Keybank National Association OH bought a new position in shares of EQT GP during the 3rd quarter worth approximately $278,000. Citigroup Inc. lifted its position in shares of EQT GP by 54.1% during the 2nd quarter. Citigroup Inc. now owns 31,199 shares of the oil and gas company’s stock worth $942,000 after buying an additional 10,959 shares during the period. NBW Capital LLC lifted its position in shares of EQT GP by 3.6% during the 2nd quarter. NBW Capital LLC now owns 296,927 shares of the oil and gas company’s stock worth $8,952,000 after buying an additional 10,442 shares during the period. Finally, Citadel Advisors LLC bought a new position in shares of EQT GP during the 2nd quarter worth approximately $428,000. Institutional investors and hedge funds own 10.19% of the company’s stock.
About EQT GP
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.
Receive News & Ratings for EQT GP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQT GP and related companies with Analyst Ratings Network's FREE daily email newsletter.