EQT GP Holdings, LP (NYSE:EQGP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The brokerage currently has a $31.00 price objective on the oil and gas company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 12.03% from the company’s previous close.

According to Zacks, “EQT GP Holdings, LP is a limited partnership which is engaged in owning, operating, acquiring and developing midstream assets primarily in the Appalachian Basin through its subsidiaries. EQT GP Holdings, LP is based in Pittsburgh, Pennsylvania. “

Several other brokerages also recently issued reports on EQGP. Barclays PLC downgraded shares of EQT GP Holdings, from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $32.00 to $30.00 in a research report on Tuesday, July 18th. Scotiabank reaffirmed a “hold” rating and issued a $32.00 price objective on shares of EQT GP Holdings, in a research report on Wednesday, October 4th. Morgan Stanley reaffirmed an “overweight” rating and issued a $31.00 price objective (up previously from $30.00) on shares of EQT GP Holdings, in a research report on Friday, July 14th. Seaport Global Securities assumed coverage on shares of EQT GP Holdings, in a research report on Tuesday, October 10th. They issued a “buy” rating and a $37.00 price objective for the company. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $37.00 price objective on shares of EQT GP Holdings, in a research report on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. EQT GP Holdings, has an average rating of “Buy” and an average target price of $32.63.

EQT GP Holdings, (NYSE EQGP) traded up 0.44% on Monday, reaching $27.67. 64,834 shares of the company’s stock traded hands. The stock has a 50-day moving average of $28.77 and a 200 day moving average of $27.80. The firm has a market capitalization of $7.36 billion, a P/E ratio of 31.27 and a beta of 1.31. EQT GP Holdings, has a 52 week low of $21.45 and a 52 week high of $31.76.

EQT GP Holdings, (NYSE:EQGP) last issued its quarterly earnings data on Thursday, October 26th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.01. EQT GP Holdings, had a net margin of 30.98% and a return on equity of 12.14%. The company had revenue of $207.19 million during the quarter. On average, equities analysts expect that EQT GP Holdings, will post $0.97 EPS for the current fiscal year.

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Hedge funds have recently added to or reduced their stakes in the company. Conning Inc. acquired a new stake in shares of EQT GP Holdings, during the second quarter worth approximately $435,000. Citigroup Inc. grew its position in shares of EQT GP Holdings, by 54.1% during the second 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 in the last quarter. Bank of Montreal Can grew its position in shares of EQT GP Holdings, by 60.8% during the second quarter. Bank of Montreal Can now owns 246,000 shares of the oil and gas company’s stock worth $7,417,000 after buying an additional 93,000 shares in the last quarter. HighTower Advisors LLC acquired a new stake in shares of EQT GP Holdings, during the first quarter worth approximately $819,000. Finally, Marshall Wace North America L.P. acquired a new stake in shares of EQT GP Holdings, during the second quarter worth approximately $3,041,000. 10.23% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for EQT GP Holdings, (NYSE:EQGP)

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