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.

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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.

Earnings History for EQT GP Holdings, (NYSE:EQGP)

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