EQT GP Holdings LP (NYSE:EQGP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The brokerage currently has a $28.00 target price on the stock. Zacks Investment Research’s target price points to a potential upside of 12.90% from the stock’s current price.

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. “

Separately, Wolfe Research began coverage on shares of EQT GP Holdings in a report on Friday, October 7th. They issued an “outperform” rating on the stock. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. EQT GP Holdings presently has a consensus rating of “Buy” and an average target price of $28.44.

Analyst Recommendations for EQT GP Holdings (NYSE:EQGP)

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EQT GP Holdings (NYSE:EQGP) traded down 1.23% during trading on Monday, reaching $24.80. 110,935 shares of the company were exchanged. The company’s 50-day moving average price is $25.29 and its 200-day moving average price is $25.30. The stock has a market capitalization of $6.60 billion, a P/E ratio of 35.68 and a beta of 1.30. EQT GP Holdings has a 1-year low of $17.39 and a 1-year high of $27.74.

EQT GP Holdings (NYSE:EQGP) last posted its earnings results on Thursday, July 28th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $172 million for the quarter, compared to the consensus estimate of $171.03 million. During the same period in the previous year, the firm posted $1.12 EPS. The business’s quarterly revenue was up 18.9% on a year-over-year basis. On average, equities analysts forecast that EQT GP Holdings will post $0.75 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the company. Alps Advisors Inc. purchased a new position in EQT GP Holdings during the second quarter worth approximately $239,000. Bank of Montreal Can bought a new stake in EQT GP Holdings during the second quarter valued at about $2,476,000. Hollencrest Securities LLC bought a new stake in EQT GP Holdings during the second quarter valued at about $339,000. BNP Paribas Arbitrage SA boosted its stake in EQT GP Holdings by 2.7% in the second quarter. BNP Paribas Arbitrage SA now owns 43,593 shares of the company’s stock valued at $1,111,000 after buying an additional 1,145 shares during the period. Finally, Avalon Advisors LLC bought a new stake in EQT GP Holdings during the first quarter valued at about $253,000. 10.12% of the stock is owned by hedge funds and other institutional investors.

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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