Wolfe Research Begins Coverage on EQT GP Holdings LP (EQGP)
Equities researchers at Wolfe Research began coverage on shares of EQT GP Holdings LP (NYSE:EQGP) in a report issued on Friday, The Fly reports. The firm set an “outperform” rating on the stock.
Separately, Zacks Investment Research cut EQT GP Holdings from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 5th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $28.44.
Shares of EQT GP Holdings (NYSE:EQGP) traded down 0.57% during midday trading on Friday, hitting $24.48. 123,736 shares of the stock were exchanged. The stock’s 50-day moving average price is $25.34 and its 200-day moving average price is $25.29. The firm has a market capitalization of $6.52 billion, a price-to-earnings ratio of 35.22 and a beta of 1.30. EQT GP Holdings has a 1-year low of $17.39 and a 1-year high of $27.95.
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EQT GP Holdings (NYSE:EQGP) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.03. EQT GP Holdings had a return on equity of 11.98% and a net margin of 27.71%. The business had revenue of $172 million for the quarter, compared to analysts’ expectations of $171.03 million. During the same period last year, the business earned $1.12 EPS. The business’s revenue was up 18.9% on a year-over-year basis. On average, analysts forecast that EQT GP Holdings will post $0.75 EPS for the current year.
Large investors have recently made changes to their positions in the stock. Signaturefd LLC raised its stake in shares of EQT GP Holdings by 3.1% in the second quarter. Signaturefd LLC now owns 6,725 shares of the company’s stock valued at $171,000 after buying an additional 200 shares in the last quarter. LVW Advisors LLC purchased a new stake in shares of EQT GP Holdings during the first quarter valued at $219,000. Alps Advisors Inc. purchased a new stake in shares of EQT GP Holdings during the second quarter valued at $239,000. Avalon Advisors LLC purchased a new stake in shares of EQT GP Holdings during the first quarter valued at $253,000. Finally, Hollencrest Securities LLC purchased a new stake in shares of EQT GP Holdings during the second quarter valued at $339,000. 10.14% of the stock is owned by hedge funds and other institutional investors.
About EQT GP Holdings
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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