Edge Advisors LLC Sells 2,425 Shares of EQT GP Holdings LP (EQGP)
Edge Advisors LLC trimmed its position in shares of EQT GP Holdings LP (NYSE:EQGP) by 7.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,755 shares of the oil and gas company’s stock after selling 2,425 shares during the quarter. Edge Advisors LLC’s holdings in EQT GP were worth $853,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Cadence Capital Management LLC raised its position in shares of EQT GP by 9.6% during the fourth quarter. Cadence Capital Management LLC now owns 44,706 shares of the oil and gas company’s stock worth $1,203,000 after acquiring an additional 3,900 shares during the last quarter. MAI Capital Management raised its position in shares of EQT GP by 19.4% during the fourth quarter. MAI Capital Management now owns 26,878 shares of the oil and gas company’s stock worth $723,000 after acquiring an additional 4,376 shares during the last quarter. Jennison Associates LLC raised its position in shares of EQT GP by 8.0% during the fourth quarter. Jennison Associates LLC now owns 877,764 shares of the oil and gas company’s stock worth $23,612,000 after acquiring an additional 65,310 shares during the last quarter. Chickasaw Capital Management LLC raised its position in shares of EQT GP by 3.8% during the fourth quarter. Chickasaw Capital Management LLC now owns 3,313,307 shares of the oil and gas company’s stock worth $89,128,000 after acquiring an additional 121,868 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of EQT GP by 10.7% during the third quarter. Wells Fargo & Company MN now owns 105,815 shares of the oil and gas company’s stock worth $3,064,000 after acquiring an additional 10,250 shares during the last quarter. 10.24% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on EQGP shares. Zacks Investment Research downgraded EQT GP from a “hold” rating to a “sell” rating in a research report on Tuesday, January 16th. Bank of America started coverage on EQT GP in a research report on Tuesday, January 9th. They set a “buy” rating for the company. JPMorgan Chase & Co. upgraded EQT GP from a “neutral” rating to an “overweight” rating and set a $31.00 price objective for the company in a research report on Thursday, December 14th. Credit Suisse Group initiated coverage on EQT GP in a research report on Thursday, January 4th. They set an “outperform” rating and a $32.00 price objective for the company. Finally, Wells Fargo & Co reiterated a “market perform” rating and issued a $31.00 target price on shares of EQT GP in a report on Wednesday, February 21st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. EQT GP currently has a consensus rating of “Hold” and a consensus price target of $31.55.
EQT GP (NYSE:EQGP) last issued its earnings results on Thursday, February 15th. The oil and gas company reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.02). The business had revenue of $224.51 million during the quarter. EQT GP had a return on equity of 12.52% and a net margin of 31.41%. equities analysts anticipate that EQT GP Holdings LP will post 1.11 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 2nd were issued a $0.244 dividend. This is an increase from EQT GP’s previous quarterly dividend of $0.23. This represents a $0.98 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date was Thursday, February 1st. EQT GP’s payout ratio is presently 100.00%.
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EQT GP 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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