EQT GP Holdings LP (EQGP) Receives $32.56 Average Price Target from Analysts

Shares of EQT GP Holdings LP (NYSE:EQGP) have received an average rating of “Buy” from the thirteen ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $32.56.

Several research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of EQT GP from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Bank of America assumed coverage on shares of EQT GP in a report on Tuesday. They issued a “buy” rating on the stock. Credit Suisse Group assumed coverage on shares of EQT GP in a report on Thursday, January 4th. They issued an “outperform” rating and a $32.00 target price on the stock. Scotiabank restated a “hold” rating and issued a $32.00 target price on shares of EQT GP in a report on Wednesday, October 4th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $37.00 target price on shares of EQT GP in a report on Tuesday, October 10th.

EQT GP (EQGP) traded up $0.27 during mid-day trading on Monday, hitting $29.87. 50,861 shares of the company’s stock traded hands, compared to its average volume of 120,995. The stock has a market capitalization of $7,950.00 and a P/E ratio of 31.78. 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 current ratio of 0.89 and a quick ratio of 0.89.

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

Several institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in EQT GP by 0.9% in the second quarter. JPMorgan Chase & Co. now owns 4,675 shares of the oil and gas company’s stock valued at $141,000 after acquiring an additional 40 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in EQT GP by 7.4% in the second quarter. The Manufacturers Life Insurance Company now owns 8,032 shares of the oil and gas company’s stock valued at $242,000 after acquiring an additional 556 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in EQT GP in the third quarter valued at $245,000. Keybank National Association OH bought a new stake in EQT GP in the third quarter valued at $278,000. Finally, Citadel Advisors LLC bought a new stake in EQT GP in the second quarter valued at $428,000. Hedge funds and other 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.

Analyst Recommendations for EQT GP (NYSE:EQGP)

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