EQT GP (NYSE:EQGP) was downgraded by equities research analysts at Bank of America from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday.

Several other research analysts also recently issued reports on the company. JPMorgan Chase & Co. raised EQT GP from a “neutral” rating to an “overweight” rating and set a $31.00 price target for the company in a research note on Thursday, December 14th. Royal Bank of Canada downgraded shares of EQT GP from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from $29.00 to $32.00 in a research note on Monday, February 12th. Wells Fargo reissued a “market perform” rating and issued a $31.00 target price on shares of EQT GP in a research note on Wednesday, February 21st. Zacks Investment Research downgraded shares of EQT GP from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, Citigroup assumed coverage on shares of EQT GP in a research note on Tuesday, January 23rd. They issued a “hold” rating and a $32.00 target price for the company. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. EQT GP currently has a consensus rating of “Hold” and a consensus price target of $31.27.

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EQGP stock opened at $22.04 on Wednesday. The stock has a market capitalization of $5,996.70, a price-to-earnings ratio of 22.99, a PEG ratio of 1.13 and a beta of 1.29. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.69 and a current ratio of 0.69. EQT GP has a one year low of $21.05 and a one year high of $31.76.

EQT GP (NYSE:EQGP) last released its quarterly earnings results on Thursday, February 15th. The oil and gas company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.02). The firm had revenue of $224.51 million for the quarter. EQT GP had a return on equity of 12.52% and a net margin of 31.41%. research analysts forecast that EQT GP will post 1.11 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cadence Capital Management LLC acquired a new position in shares of EQT GP during the 3rd quarter valued at about $1,182,000. Wells Fargo & Company MN increased its stake in shares of EQT GP by 10.7% during the 3rd quarter. Wells Fargo & Company MN now owns 105,815 shares of the oil and gas company’s stock valued at $3,064,000 after acquiring an additional 10,250 shares during the last quarter. ING Groep NV increased its stake in shares of EQT GP by 82.0% during the 3rd quarter. ING Groep NV now owns 546,000 shares of the oil and gas company’s stock valued at $15,812,000 after acquiring an additional 246,000 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of EQT GP by 112.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,928 shares of the oil and gas company’s stock valued at $287,000 after acquiring an additional 5,253 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in shares of EQT GP by 8.0% during the 4th quarter. Jennison Associates LLC now owns 877,764 shares of the oil and gas company’s stock valued at $23,612,000 after acquiring an additional 65,310 shares during the last quarter. 10.05% of the stock is owned by institutional investors.

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EQT GP 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.

Analyst Recommendations for EQT GP (NYSE:EQGP)

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