Brokerages predict that EQT GP Holdings LP (NYSE:EQGP) will announce $357.60 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for EQT GP’s earnings, with the lowest sales estimate coming in at $329.00 million and the highest estimate coming in at $374.90 million. EQT GP reported sales of $207.19 million during the same quarter last year, which indicates a positive year over year growth rate of 72.6%. The firm is expected to report its next earnings report on Thursday, October 25th.
On average, analysts expect that EQT GP will report full-year sales of $1.23 billion for the current fiscal year, with estimates ranging from $1.18 billion to $1.26 billion. For the next year, analysts expect that the business will report sales of $1.67 billion, with estimates ranging from $1.54 billion to $1.81 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover EQT GP.
EQT GP (NYSE:EQGP) last released its quarterly earnings data on Thursday, July 26th. The oil and gas company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.27 by $0.05. The company had revenue of $269.76 million during the quarter. EQT GP had a return on equity of 12.65% and a net margin of 33.16%.
Several research firms have recently commented on EQGP. ValuEngine raised EQT GP from a “strong sell” rating to a “sell” rating in a report on Saturday. Zacks Investment Research raised EQT GP from a “sell” rating to a “hold” rating in a report on Monday, July 30th. Jefferies Financial Group assumed coverage on EQT GP in a research note on Wednesday, July 25th. They issued a “hold” rating and a $22.00 price target on the stock. Morgan Stanley dropped their price target on EQT GP from $28.00 to $27.00 and set an “overweight” rating on the stock in a research note on Friday, July 13th. Finally, Barclays dropped their price target on EQT GP from $29.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 11th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $27.38.
Shares of NYSE EQGP traded down $0.15 during trading hours on Monday, hitting $21.13. The company had a trading volume of 325,700 shares, compared to its average volume of 180,855. The company has a market cap of $6.30 billion, a PE ratio of 21.91 and a beta of 1.12. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.03. EQT GP has a 1-year low of $20.21 and a 1-year high of $30.74.
A number of institutional investors and hedge funds have recently bought and sold shares of EQGP. Wells Fargo & Company MN raised its stake in EQT GP by 4.7% in the 1st quarter. Wells Fargo & Company MN now owns 99,169 shares of the oil and gas company’s stock valued at $2,289,000 after acquiring an additional 4,417 shares during the period. JPMorgan Chase & Co. increased its position in EQT GP by 446.0% during the 1st quarter. JPMorgan Chase & Co. now owns 35,425 shares of the oil and gas company’s stock worth $818,000 after buying an additional 28,937 shares during the period. Franklin Resources Inc. increased its position in EQT GP by 129.4% during the 1st quarter. Franklin Resources Inc. now owns 110,664 shares of the oil and gas company’s stock worth $2,554,000 after buying an additional 62,424 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in EQT GP during the 1st quarter worth $215,000. Finally, Barclays PLC increased its position in EQT GP by 5,839.6% during the 1st quarter. Barclays PLC now owns 563,843 shares of the oil and gas company’s stock worth $13,012,000 after buying an additional 554,350 shares during the period. Institutional investors and hedge funds 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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