EQT GP Holdings LP (NYSE:EQGP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The firm currently has a $28.00 target price on the stock. Zacks Investment Research’s target price points to a potential upside of 10.89% from the company’s current price.
According to Zacks, “EQT GP Holdings, LP is a limited partnership which is engaged in owning, operating, acquiring and developing midstream assets primarily in the Appalachian Basin through its subsidiaries. EQT GP Holdings, LP is based in Pittsburgh, Pennsylvania. “
Separately, Wolfe Research assumed coverage on EQT GP Holdings in a report on Friday, October 7th. They set an “outperform” rating for the company. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $28.44.
EQT GP Holdings (NYSE:EQGP) opened at 25.25 on Monday. EQT GP Holdings has a 12-month low of $17.39 and a 12-month high of $27.74. The firm has a market cap of $6.72 billion, a P/E ratio of 36.33 and a beta of 1.30. The stock’s 50 day moving average is $25.23 and its 200 day moving average is $25.29.
EQT GP Holdings (NYSE:EQGP) last announced its earnings results on Thursday, July 28th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. EQT GP Holdings had a return on equity of 11.98% and a net margin of 27.71%. The company earned $172 million during the quarter, compared to analysts’ expectations of $171.03 million. During the same period last year, the business posted $1.12 EPS. EQT GP Holdings’s revenue for the quarter was up 18.9% on a year-over-year basis. On average, equities research analysts expect that EQT GP Holdings will post $0.75 EPS for the current year.
Large investors have recently modified their holdings of the company. Signaturefd LLC raised its stake in shares of EQT GP Holdings by 3.1% in the second quarter. Signaturefd LLC now owns 6,725 shares of the company’s stock valued at $171,000 after buying an additional 200 shares during the period. Alps Advisors Inc. acquired a new stake in shares of EQT GP Holdings during the second quarter valued at $239,000. Avalon Advisors LLC acquired a new stake in shares of EQT GP Holdings during the first quarter valued at $253,000. Hollencrest Securities LLC acquired a new stake in shares of EQT GP Holdings during the second quarter valued at $339,000. Finally, Cypress Wealth Advisors LLC raised its stake in shares of EQT GP Holdings by 0.3% in the first quarter. Cypress Wealth Advisors LLC now owns 14,925 shares of the company’s stock valued at $403,000 after buying an additional 50 shares during the period. 10.12% of the stock is currently owned by institutional investors and hedge funds.
EQT GP Holdings Company Profile
EQT GP Holdings, LP (EQGP) is a limited partnership company and subsidiary of EQT Gathering Holdings, LLC (EQT Gathering Holdings). The Company is 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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