Analysts at Credit Suisse Group assumed coverage on shares of EQT GP (NYSE:EQGP) in a report issued on Thursday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $32.00 price target on the oil and gas company’s stock. Credit Suisse Group’s target price points to a potential upside of 12.28% from the stock’s current price.
A number of other equities analysts have also recently weighed in on the company. Zacks Investment Research upgraded 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. BidaskClub cut EQT GP from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 25th. JPMorgan Chase & Co. upgraded EQT GP from a “neutral” rating to an “overweight” rating and set a $31.00 target price for the company in a research note on Thursday, December 14th. Seaport Global Securities assumed coverage on EQT GP in a research note on Tuesday, October 10th. They set a “buy” rating and a $37.00 target price for the company. Finally, Mitsubishi UFJ Financial Group reiterated an “overweight” rating on shares of EQT GP in a research note on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. EQT GP currently has a consensus rating of “Buy” and an average price target of $32.40.
EQT GP (EQGP) traded down $0.20 during midday trading on Thursday, reaching $28.50. The company’s stock had a trading volume of 159,896 shares, compared to its average volume of 133,622. The stock has a market cap of $7,585.70, a PE ratio of 30.32, a PEG ratio of 1.35 and a beta of 1.19. EQT GP has a 52-week low of $24.18 and a 52-week high of $31.76. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.89 and a current ratio of 0.89.
Several institutional investors have recently added to or reduced their stakes in the company. ING Groep NV boosted its stake in shares of EQT GP by 82.0% during the 3rd quarter. ING Groep NV now owns 546,000 shares of the oil and gas company’s stock valued at $15,812,000 after buying an additional 246,000 shares during the last quarter. Duff & Phelps Investment Management Co. boosted its stake in shares of EQT GP by 13.5% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 429,100 shares of the oil and gas company’s stock valued at $12,427,000 after buying an additional 51,000 shares during the last quarter. NBW Capital LLC lifted its stake in EQT GP by 3.6% during the second quarter. NBW Capital LLC now owns 296,927 shares of the oil and gas company’s stock worth $8,952,000 after purchasing an additional 10,442 shares during the last quarter. Wells Fargo & Company MN lifted its stake in EQT GP by 10.7% during the third quarter. Wells Fargo & Company MN now owns 105,815 shares of the oil and gas company’s stock worth $3,064,000 after purchasing an additional 10,250 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in EQT GP by 1.3% during the second quarter. PNC Financial Services Group Inc. now owns 52,328 shares of the oil and gas company’s stock worth $1,578,000 after purchasing an additional 650 shares during the last quarter. Institutional investors own 10.19% of the company’s stock.
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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.
