EQT GP (NYSE:EQGP) issued its quarterly earnings data on Thursday. The oil and gas company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.02), Morningstar.com reports. The business had revenue of $224.51 million during the quarter. EQT GP had a return on equity of 12.63% and a net margin of 31.41%.
EQT GP (NYSE:EQGP) opened at $25.21 on Friday. The stock has a market capitalization of $6,760.59, a price-to-earnings ratio of 25.92, a PEG ratio of 1.22 and a beta of 1.15. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.52. EQT GP has a 12-month low of $24.18 and a 12-month high of $31.76.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 2nd will be given a dividend of $0.244 per share. The ex-dividend date is Thursday, February 1st. This is an increase from EQT GP’s previous quarterly dividend of $0.23. This represents a $0.98 dividend on an annualized basis and a dividend yield of 3.87%. EQT GP’s dividend payout ratio is presently 100.00%.
Several hedge funds have recently modified their holdings of EQGP. JPMorgan Chase & Co. increased its position in shares of EQT GP by 0.9% during the second quarter. JPMorgan Chase & Co. now owns 4,675 shares of the oil and gas company’s stock worth $141,000 after purchasing an additional 40 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of EQT GP by 7.4% during 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 buying an additional 556 shares during the last quarter. Duff & Phelps Investment Management Co. grew its holdings in shares of EQT GP by 13.5% during the third quarter. Duff & Phelps Investment Management Co. now owns 429,100 shares of the oil and gas company’s stock valued at $12,427,000 after buying an additional 51,000 shares during the last quarter. Keybank National Association OH purchased a new stake in shares of EQT GP during the third quarter valued at $278,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of EQT GP during the third quarter valued at $245,000. 10.23% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts recently commented on the stock. Zacks Investment Research downgraded shares of EQT GP from a “hold” rating to a “sell” rating in a research note on Tuesday, January 16th. Royal Bank of Canada downgraded EQT GP from an “outperform” rating to a “sector perform” rating and upped their price target for the stock from $29.00 to $32.00 in a research report on Monday, February 12th. Citigroup reaffirmed a “neutral” rating and set a $31.50 price target on shares of EQT GP in a research report on Monday, January 22nd. Mitsubishi UFJ Financial Group reaffirmed an “overweight” rating on shares of EQT GP in a research report on Thursday, October 26th. Finally, BidaskClub downgraded EQT GP from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. EQT GP has a consensus rating of “Hold” and an average price target of $31.60.
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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.
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