NBW Capital LLC trimmed its position in shares of EQT GP Holdings LP (NYSE:EQGP) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 279,940 shares of the oil and gas company’s stock after selling 12,919 shares during the period. EQT GP accounts for approximately 2.0% of NBW Capital LLC’s investment portfolio, making the stock its 25th biggest position. NBW Capital LLC owned approximately 0.11% of EQT GP worth $7,530,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of EQGP. The Manufacturers Life Insurance Company increased its holdings in EQT GP by 7.4% during the second quarter. The Manufacturers Life Insurance Company now owns 8,032 shares of the oil and gas company’s stock worth $242,000 after buying an additional 556 shares during the last quarter. Keybank National Association OH acquired a new position in EQT GP during the third quarter worth $278,000. Bank of New York Mellon Corp acquired a new position in EQT GP during the third quarter worth $245,000. Catalyst Capital Advisors LLC increased its holdings in EQT GP by 8.7% during the third quarter. Catalyst Capital Advisors LLC now owns 27,482 shares of the oil and gas company’s stock worth $796,000 after buying an additional 2,200 shares during the last quarter. Finally, ING Groep NV increased its holdings in EQT GP by 82.0% during the third quarter. ING Groep NV now owns 546,000 shares of the oil and gas company’s stock worth $15,812,000 after buying an additional 246,000 shares during the last quarter. Institutional investors and hedge funds own 10.05% of the company’s stock.
EQGP has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upgraded shares of EQT GP from a “neutral” rating to an “overweight” rating and set a $31.00 target price on the stock in a report on Thursday, December 14th. Royal Bank of Canada cut shares of EQT GP from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $29.00 to $32.00 in a research report on Monday, February 12th. Zacks Investment Research cut shares of EQT GP from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Wells Fargo & Co reaffirmed a “market perform” rating and set a $31.00 price objective on shares of EQT GP in a research report on Wednesday, February 21st. Finally, Citigroup started coverage on shares of EQT GP in a research report on Tuesday, January 23rd. They set a “hold” rating and a $32.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $31.55.
EQT GP (NYSE:EQGP) last announced its earnings results on Thursday, February 15th. The oil and gas company reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.02). The business had revenue of $224.51 million during the quarter. EQT GP had a net margin of 31.41% and a return on equity of 12.52%. equities analysts predict that EQT GP Holdings LP will post 1.11 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 2nd were given a $0.244 dividend. This represents a $0.98 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date was Thursday, February 1st. This is a boost from EQT GP’s previous quarterly dividend of $0.23. EQT GP’s payout ratio is presently 100.00%.
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.
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