EQT GP (EQGP) Stock Rating Lowered by Bank of America
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.
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.
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.
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