BidaskClub Downgrades EQT GP Holdings, LP (NYSE:EQGP) to Strong Sell
BidaskClub downgraded shares of EQT GP Holdings, LP (NYSE:EQGP) from a sell rating to a strong sell rating in a research report report published on Thursday morning.
EQGP has been the topic of several other reports. Barclays PLC lowered EQT GP Holdings, from an overweight rating to an equal weight rating and cut their target price for the company from $32.00 to $30.00 in a report on Tuesday, July 18th. Royal Bank Of Canada restated a buy rating and set a $36.00 target price on shares of EQT GP Holdings, in a report on Thursday, April 13th. Scotiabank set a $30.00 target price on EQT GP Holdings, and gave the company a hold rating in a report on Friday, July 21st. Stifel Nicolaus restated a hold rating and set a $25.00 target price on shares of EQT GP Holdings, in a report on Friday, July 21st. Finally, Morgan Stanley restated an overweight rating and set a $31.00 target price (up from $30.00) on shares of EQT GP Holdings, in a report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. EQT GP Holdings, has a consensus rating of Hold and an average price target of $31.14.
Shares of EQT GP Holdings, (NYSE:EQGP) traded up 1.24% during midday trading on Thursday, hitting $29.36. The stock had a trading volume of 26,875 shares. EQT GP Holdings, has a 1-year low of $21.45 and a 1-year high of $31.76. The firm has a market cap of $7.81 billion, a price-to-earnings ratio of 33.18 and a beta of 1.32. The firm has a 50-day moving average price of $28.34 and a 200-day moving average price of $27.38.
EQT GP Holdings, (NYSE:EQGP) last posted its earnings results on Thursday, July 27th. The oil and gas company reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.05. EQT GP Holdings, had a return on equity of 11.72% and a net margin of 30.65%. The company had revenue of $199 million for the quarter, compared to analyst estimates of $194.49 million. During the same period last year, the company earned $1.27 earnings per share. The business’s revenue was up 11.8% compared to the same quarter last year. On average, equities analysts anticipate that EQT GP Holdings, will post $0.91 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Friday, August 4th will be issued a dividend of $0.21 per share. This is a positive change from EQT GP Holdings,’s previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Wednesday, August 2nd. EQT GP Holdings,’s dividend payout ratio (DPR) is 85.39%.
Institutional investors have recently bought and sold shares of the company. LVW Advisors LLC raised its position in EQT GP Holdings, by 1.9% in the first quarter. LVW Advisors LLC now owns 10,625 shares of the oil and gas company’s stock worth $291,000 after buying an additional 200 shares during the last quarter. JPMorgan Chase & Co. raised its position in EQT GP Holdings, by 7.3% in the first quarter. JPMorgan Chase & Co. now owns 4,635 shares of the oil and gas company’s stock worth $127,000 after buying an additional 315 shares during the last quarter. Proficio Capital Partners LLC raised its position in EQT GP Holdings, by 4.2% in the first quarter. Proficio Capital Partners LLC now owns 7,989 shares of the oil and gas company’s stock worth $211,000 after buying an additional 320 shares during the last quarter. Miller Howard Investments Inc. NY raised its position in EQT GP Holdings, by 0.4% in the first quarter. Miller Howard Investments Inc. NY now owns 79,268 shares of the oil and gas company’s stock worth $2,170,000 after buying an additional 340 shares during the last quarter. Finally, Hollencrest Securities LLC acquired a new position in EQT GP Holdings, during the first quarter worth approximately $208,000. Institutional investors and hedge funds own 10.91% of the company’s stock.
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 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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