EQT GP (EQGP) Lifted to “Buy” at Jefferies Financial Group

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Jefferies Financial Group upgraded shares of EQT GP (NYSE:EQGP) from a hold rating to a buy rating in a report issued on Friday, MarketBeat reports. They currently have $20.00 price target on the oil and gas company’s stock.

Several other analysts have also recently issued reports on the company. Credit Suisse Group started coverage on EQT GP in a report on Thursday, October 11th. They set a neutral rating and a $24.00 price objective on the stock. Morgan Stanley decreased their price objective on EQT GP from $27.00 to $26.00 and set an overweight rating on the stock in a report on Friday, August 17th. Stifel Nicolaus started coverage on EQT GP in a report on Tuesday, September 18th. They set a hold rating and a $22.00 price objective on the stock. Bank of America decreased their price objective on EQT GP from $27.00 to $24.00 and set a neutral rating on the stock in a report on Wednesday, August 1st. Finally, ValuEngine cut EQT GP from a sell rating to a strong sell rating in a report on Tuesday, October 23rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $26.08.

Shares of EQGP traded up $0.27 during mid-day trading on Friday, hitting $16.17. 360,871 shares of the stock were exchanged, compared to its average volume of 256,539. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 16.50 and a beta of 1.43. EQT GP has a 52-week low of $15.36 and a 52-week high of $30.73. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.34 and a quick ratio of 0.34.

EQT GP (NYSE:EQGP) last issued its quarterly earnings data on Thursday, October 25th. The oil and gas company reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.03). The firm had revenue of $364.58 million for the quarter, compared to analysts’ expectations of $361.93 million. EQT GP had a return on equity of 10.93% and a net margin of 30.96%. On average, sell-side analysts expect that EQT GP will post 1.28 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 23rd. Investors of record on Friday, November 2nd will be issued a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 7.79%. The ex-dividend date is Thursday, November 1st. This is a positive change from EQT GP’s previous quarterly dividend of $0.31. EQT GP’s dividend payout ratio is presently 128.57%.

A number of large investors have recently added to or reduced their stakes in EQGP. Parkside Financial Bank & Trust purchased a new stake in EQT GP during the 3rd quarter valued at $226,000. PEAK6 Investments L.P. purchased a new stake in EQT GP during the 2nd quarter valued at $326,000. First Trust Advisors LP purchased a new stake in EQT GP during the 3rd quarter valued at $361,000. Lake Street Advisors Group LLC purchased a new stake in EQT GP during the 2nd quarter valued at $548,000. Finally, Conning Inc. raised its holdings in EQT GP by 132.6% during the 2nd quarter. Conning Inc. now owns 30,034 shares of the oil and gas company’s stock valued at $706,000 after buying an additional 17,122 shares during the period. Institutional investors own 8.94% of the company’s stock.

About EQT GP

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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