EQT GP Holdings,’s (NYSE:EQGP) Hold Rating Reaffirmed at Stifel Nicolaus
EQT GP Holdings, LP (NYSE:EQGP)‘s stock had its “hold” rating restated by investment analysts at Stifel Nicolaus in a report issued on Friday. They presently have a $25.00 price objective on the oil and gas company’s stock. Stifel Nicolaus’ price objective would indicate a potential downside of 11.91% from the stock’s current price.
EQGP has been the topic of several other research reports. Scotiabank reiterated a “hold” rating and issued a $30.00 price target on shares of EQT GP Holdings, in a report on Friday, March 24th. Morgan Stanley reiterated an “overweight” rating and issued a $31.00 price target (up previously from $30.00) on shares of EQT GP Holdings, in a report on Friday, July 14th. BidaskClub lowered EQT GP Holdings, from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. Royal Bank Of Canada reiterated a “buy” rating and issued a $36.00 price target on shares of EQT GP Holdings, in a report on Thursday, April 13th. Finally, Barclays PLC lowered EQT GP Holdings, from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $32.00 to $30.00 in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $31.14.
Shares of EQT GP Holdings, (EQGP) traded up 0.07% during midday trading on Friday, reaching $28.38. The company had a trading volume of 121,108 shares. The stock has a market capitalization of $7.55 billion, a PE ratio of 33.83 and a beta of 1.33. EQT GP Holdings, has a 12-month low of $21.45 and a 12-month high of $31.76. The stock’s 50 day moving average is $27.83 and its 200-day moving average is $27.29.
EQT GP Holdings, (NYSE:EQGP) last announced its quarterly earnings results on Thursday, April 27th. The oil and gas company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.01. The business had revenue of $203.40 million for the quarter, compared to analyst estimates of $201.54 million. EQT GP Holdings, had a return on equity of 11.39% and a net margin of 30.13%. The company’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 earnings per share. On average, equities research analysts predict that EQT GP Holdings, will post $0.90 earnings per share for the current fiscal year.
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Several hedge funds have recently modified their holdings of EQGP. Bank of Montreal Can increased its stake in shares of EQT GP Holdings, by 60.8% in the second quarter. Bank of Montreal Can now owns 246,000 shares of the oil and gas company’s stock valued at $7,417,000 after buying an additional 93,000 shares during the period. Proficio Capital Partners LLC increased its stake in shares of EQT GP Holdings, by 4.2% in the first quarter. Proficio Capital Partners LLC now owns 7,989 shares of the oil and gas company’s stock valued at $211,000 after buying an additional 320 shares during the period. Driehaus Capital Management LLC bought a new stake in shares of EQT GP Holdings, during the first quarter valued at approximately $1,578,000. HighTower Advisors LLC bought a new stake in shares of EQT GP Holdings, during the first quarter valued at approximately $819,000. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of EQT GP Holdings, by 1.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 950,584 shares of the oil and gas company’s stock valued at $26,027,000 after buying an additional 12,774 shares during the period. 10.91% 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 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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