EQT GP Holdings, LP (NYSE:EQGP) Issues Quarterly Earnings Results, Beats Expectations By $0.05 EPS
EQT GP Holdings, LP (NYSE:EQGP) issued its quarterly earnings results on Thursday. The oil and gas company reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.05, MarketWatch Earnings reports. The company had revenue of $199 million for the quarter, compared to analysts’ expectations of $194.49 million. EQT GP Holdings, had a return on equity of 11.39% and a net margin of 30.13%. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.27 earnings per share.
EQT GP Holdings, (NYSE:EQGP) traded up 0.03% on Thursday, reaching $28.71. The company’s stock had a trading volume of 39,845 shares. The company has a market capitalization of $7.64 billion, a price-to-earnings ratio of 34.22 and a beta of 1.33. EQT GP Holdings, has a 1-year low of $21.45 and a 1-year high of $31.76. The firm’s 50 day moving average price is $28.12 and its 200-day moving average price is $27.35.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Friday, August 4th will be issued a $0.21 dividend. This is an increase from EQT GP Holdings,’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Wednesday, August 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 2.93%. EQT GP Holdings,’s dividend payout ratio is currently 90.48%.
A number of hedge funds and other institutional investors have recently made changes to their positions in EQGP. HITE Hedge Asset Management LLC acquired a new position in shares of EQT GP Holdings, during the fourth quarter valued at $2,367,000. Hollencrest Securities LLC acquired a new position in shares of EQT GP Holdings, during the first quarter valued at $208,000. Chickasaw Capital Management LLC increased its position in shares of EQT GP Holdings, by 2.2% in the first quarter. Chickasaw Capital Management LLC now owns 3,361,427 shares of the oil and gas company’s stock valued at $92,036,000 after buying an additional 71,536 shares during the period. Miller Howard Investments Inc. NY increased its position in shares of EQT GP Holdings, by 0.4% in the first quarter. Miller Howard Investments Inc. NY now owns 79,268 shares of the oil and gas company’s stock valued at $2,170,000 after buying an additional 340 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of EQT GP Holdings, by 7.3% in the first quarter. JPMorgan Chase & Co. now owns 4,635 shares of the oil and gas company’s stock valued at $127,000 after buying an additional 315 shares during the period. Hedge funds and other institutional investors own 10.90% of the company’s stock.
Several equities research analysts recently weighed in on EQGP shares. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $36.00 price target on shares of EQT GP Holdings, in a research note on Thursday, April 13th. Morgan Stanley reaffirmed an “overweight” rating and issued a $31.00 price target (up from $30.00) on shares of EQT GP Holdings, in a research note on Friday, July 14th. BidaskClub cut EQT GP Holdings, from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Scotiabank set a $30.00 target price on EQT GP Holdings, and gave the stock a “hold” rating in a research note on Friday, July 21st. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $25.00 target price on shares of EQT GP Holdings, in a research note on Friday, July 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $31.14.
TRADEMARK VIOLATION NOTICE: This story was first reported by American Banking News and is the property of of American Banking News. If you are viewing this story on another domain, it was illegally copied and reposted in violation of US and international trademark and copyright legislation. The correct version of this story can be accessed at https://www.americanbankingnews.com/2017/07/27/eqt-gp-holdings-lp-nyseeqgp-issues-quarterly-earnings-results-beats-expectations-by-0-05-eps.html.
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 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.
Receive News & Ratings for EQT GP Holdings LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQT GP Holdings LP and related companies with MarketBeat.com's FREE daily email newsletter.