ValuEngine Lowers EQT GP (EQGP) to Strong Sell

EQT GP (NYSE:EQGP) was downgraded by research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report issued on Tuesday.

Several other research analysts have also recently weighed in on EQGP. Zacks Investment Research raised shares of EQT GP from a “sell” rating to a “hold” rating in a research report on Monday, July 30th. Barclays lowered their price target on shares of EQT GP from $29.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 11th. Bank of America lowered their price target on shares of EQT GP from $27.00 to $24.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 1st. Jefferies Financial Group assumed coverage on shares of EQT GP in a research report on Wednesday, July 25th. They set a “hold” rating and a $22.00 price target on the stock. Finally, Wells Fargo & Co lowered their price target on shares of EQT GP from $28.00 to $26.00 and set a “market perform” rating on the stock in a research report on Monday, July 30th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $28.14.

Shares of EQGP opened at $21.81 on Tuesday. EQT GP has a 52-week low of $21.05 and a 52-week high of $30.74. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a market cap of $6.63 billion, a price-to-earnings ratio of 22.26 and a beta of 1.16.

EQT GP (NYSE:EQGP) last announced its earnings results on Thursday, July 26th. The oil and gas company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. EQT GP had a net margin of 33.16% and a return on equity of 12.65%. The company had revenue of $269.76 million for the quarter. analysts forecast that EQT GP will post 1.31 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC purchased a new stake in EQT GP in the 1st quarter valued at about $215,000. Mariner LLC purchased a new stake in EQT GP in the 1st quarter valued at about $261,000. PEAK6 Investments L.P. purchased a new stake in EQT GP in the 2nd quarter valued at about $326,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in EQT GP in the 1st quarter valued at about $323,000. Finally, Lake Street Advisors Group LLC purchased a new stake in EQT GP in the 2nd quarter valued at about $548,000. Hedge funds and other institutional investors own 9.05% of the company’s stock.

EQT GP Company Profile

EQT GP Holdings, LP owns, operates, acquires, and develops midstream energy assets in the Appalachian Basin through owning partnership interests in EQT Midstream Partners, LP (EQM). The company operates in two segments, Gathering and Transmission. EQM offers natural gas transmission, storage, and gathering services to various third parties in Pennsylvania, West Virginia, and Ohio.

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Analyst Recommendations for EQT GP (NYSE:EQGP)

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