EQT GP’s (EQGP) Market Perform Rating Reaffirmed at Wells Fargo & Co

Wells Fargo & Co reiterated their market perform rating on shares of EQT GP (NYSE:EQGP) in a research report released on Wednesday. Wells Fargo & Co currently has a $31.00 price objective on the oil and gas company’s stock.

Several other brokerages also recently weighed in on EQGP. Zacks Investment Research downgraded shares of EQT GP from a hold rating to a sell rating in a research note on Tuesday, January 16th. Bank of America began coverage on shares of EQT GP in a research note on Tuesday, January 9th. They issued a buy rating on the stock. Credit Suisse Group began coverage on shares of EQT GP in a research note on Thursday, January 4th. They issued an outperform rating and a $32.00 target price on the stock. Citigroup began coverage on shares of EQT GP in a research note on Tuesday, January 23rd. They issued a hold rating and a $32.00 target price on the stock. Finally, Mitsubishi UFJ Financial Group reissued an overweight rating on shares of EQT GP in a research note on Thursday, October 26th. 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 stock. The stock has a consensus rating of Hold and an average price target of $31.55.

EQT GP (NYSE EQGP) opened at $24.16 on Wednesday. EQT GP has a 12-month low of $23.98 and a 12-month high of $31.76. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market cap of $6,710.02, a price-to-earnings ratio of 25.20, a price-to-earnings-growth ratio of 1.22 and a beta of 1.15.

EQT GP (NYSE:EQGP) last announced its earnings results on Thursday, February 15th. The oil and gas company reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.02). EQT GP had a net margin of 31.41% and a return on equity of 12.52%. The firm had revenue of $224.51 million during the quarter. equities research analysts forecast that EQT GP will post 1.15 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 2nd will be paid a $0.244 dividend. This represents a $0.98 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Thursday, February 1st. This is an increase from EQT GP’s previous quarterly dividend of $0.23. EQT GP’s dividend payout ratio (DPR) is currently 100.00%.

A number of hedge funds have recently bought and sold shares of EQGP. ING Groep NV increased its stake in EQT GP by 82.0% in the 3rd 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 period. Chickasaw Capital Management LLC increased its stake in EQT GP by 3.8% in the 4th quarter. Chickasaw Capital Management LLC now owns 3,313,307 shares of the oil and gas company’s stock worth $89,128,000 after buying an additional 121,868 shares during the period. Cramer Rosenthal Mcglynn LLC purchased a new position in EQT GP in the 4th quarter worth about $3,140,000. Deutsche Bank AG increased its stake in EQT GP by 222.9% in the 4th quarter. Deutsche Bank AG now owns 99,683 shares of the oil and gas company’s stock worth $2,681,000 after buying an additional 68,808 shares during the period. Finally, Jennison Associates LLC increased its stake in EQT GP by 8.0% in the 4th quarter. Jennison Associates LLC now owns 877,764 shares of the oil and gas company’s stock worth $23,612,000 after buying an additional 65,310 shares during the period. 10.24% of the stock is currently owned by institutional investors.

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EQT GP Company Profile

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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