EQT GP Holdings LP (NYSE:EQGP) Receives Average Rating of “Buy” from Brokerages
EQT GP Holdings LP (NYSE:EQGP) has earned an average rating of “Buy” from the ten research firms that are presently covering the firm. Four analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $28.50.
Separately, Zacks Investment Research cut shares of EQT GP Holdings from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 5th.
Several hedge funds have recently modified their holdings of EQGP. SL Advisors LLC acquired a new stake in shares of EQT GP Holdings during the second quarter valued at $1,308,000. Cypress Wealth Advisors LLC boosted its stake in shares of EQT GP Holdings by 8.2% in the second quarter. Cypress Wealth Advisors LLC now owns 16,150 shares of the company’s stock valued at $412,000 after buying an additional 1,225 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its stake in shares of EQT GP Holdings by 7.9% in the second quarter. Silvercrest Asset Management Group LLC now owns 320,959 shares of the company’s stock valued at $8,182,000 after buying an additional 23,628 shares in the last quarter. Clinton Group Inc. acquired a new stake in shares of EQT GP Holdings during the second quarter valued at $825,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of EQT GP Holdings by 55.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 766,691 shares of the company’s stock valued at $19,543,000 after buying an additional 273,169 shares in the last quarter. 10.14% of the stock is currently owned by institutional investors.
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Shares of EQT GP Holdings (NYSE:EQGP) traded up 0.08% on Tuesday, reaching $24.85. The company’s stock had a trading volume of 16,764 shares. The company has a market cap of $6.61 billion, a PE ratio of 35.76 and a beta of 1.30. EQT GP Holdings has a 52-week low of $17.39 and a 52-week high of $28.25. The firm has a 50 day moving average of $25.34 and a 200 day moving average of $25.19.
EQT GP Holdings (NYSE:EQGP) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.16 by $0.03. EQT GP Holdings had a net margin of 27.71% and a return on equity of 11.98%. The business earned $172 million during the quarter, compared to the consensus estimate of $171.03 million. During the same period in the previous year, the business earned $1.12 earnings per share. The company’s revenue was up 18.9% on a year-over-year basis. Analysts predict that EQT GP Holdings will post $0.75 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 22nd. Investors of record on Friday, August 5th were paid a $0.15 dividend. This is a boost from EQT GP Holdings’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Wednesday, August 3rd. This represents a $0.60 annualized dividend and a dividend yield of 2.42%. EQT GP Holdings’s payout ratio is currently 86.96%.
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 is 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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