EQT GP Holdings LP (EQGP) Raises Dividend to $0.24 Per Share

EQT GP Holdings LP (NYSE:EQGP) declared a quarterly dividend on Monday, January 22nd, Wall Street Journal reports. Shareholders of record on Friday, February 2nd will be paid a dividend of 0.244 per share by the oil and gas company on Friday, February 23rd. This represents a $0.98 annualized dividend and a yield of 3.43%. The ex-dividend date is Thursday, February 1st. This is an increase from EQT GP’s previous quarterly dividend of $0.23.

EQT GP has a payout ratio of 90.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect EQT GP to earn $1.17 per share next year, which means the company should continue to be able to cover its $0.91 annual dividend with an expected future payout ratio of 77.8%.

Shares of EQT GP (NYSE EQGP) traded down $0.19 during trading hours on Monday, hitting $28.44. 97,900 shares of the stock traded hands, compared to its average volume of 127,654. The firm has a market capitalization of $7,590.00 and a P/E ratio of 30.26. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.52. EQT GP has a 52 week low of $24.18 and a 52 week high of $31.76.

EQT GP (NYSE:EQGP) last announced its quarterly earnings results on Thursday, October 26th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. The company had revenue of $207.19 million during the quarter. EQT GP had a net margin of 30.98% and a return on equity of 12.14%. sell-side analysts expect that EQT GP will post 1.01 earnings per share for the current fiscal year.

Several brokerages have recently issued reports on EQGP. Citigroup reiterated a “neutral” rating and set a $31.50 price target on shares of EQT GP in a report on Monday. Seaport Global Securities began coverage on shares of EQT GP in a report on Tuesday, October 10th. They set a “buy” rating and a $37.00 price target for the company. Zacks Investment Research upgraded shares of EQT GP from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Monday, October 30th. Credit Suisse Group started coverage on shares of EQT GP in a report on Thursday, January 4th. They set an “outperform” rating and a $32.00 price target for the company. Finally, JPMorgan Chase & Co. raised shares of EQT GP from a “neutral” rating to an “overweight” rating and set a $31.00 price objective on the stock in a research note on Thursday, December 14th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $32.32.

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About EQT GP

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.

Dividend History for EQT GP (NYSE:EQGP)

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