EQT GP (EQGP) Lifted to “Sell” at ValuEngine

ValuEngine upgraded shares of EQT GP (NYSE:EQGP) from a strong sell rating to a sell rating in a research note released on Saturday.

EQGP has been the topic of a number of other research reports. Barclays cut their price objective 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. Jefferies Financial Group began coverage on shares of EQT GP in a research report on Wednesday, July 25th. They set a hold rating and a $22.00 price objective on the stock. Morgan Stanley cut their price objective on shares of EQT GP from $27.00 to $26.00 and set an overweight rating on the stock in a research report on Friday, August 17th. Wells Fargo & Co cut their price objective 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. Finally, Zacks Investment Research upgraded shares of EQT GP from a sell rating to a hold rating in a research report on Monday, July 30th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. EQT GP currently has a consensus rating of Hold and an average target price of $27.38.

EQGP stock opened at $21.13 on Friday. 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 twelve month low of $20.21 and a twelve month high of $30.74. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of 21.91 and a beta of 1.12.

EQT GP (NYSE:EQGP) last posted its quarterly earnings data on Thursday, July 26th. The oil and gas company reported $0.32 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $269.76 million for the quarter. As a group, analysts anticipate that EQT GP will post 1.34 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of EQGP. Wells Fargo & Company MN boosted its stake in shares of EQT GP by 4.7% during the first quarter. Wells Fargo & Company MN now owns 99,169 shares of the oil and gas company’s stock valued at $2,289,000 after purchasing an additional 4,417 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of EQT GP by 446.0% during the first quarter. JPMorgan Chase & Co. now owns 35,425 shares of the oil and gas company’s stock valued at $818,000 after purchasing an additional 28,937 shares during the period. Franklin Resources Inc. boosted its stake in shares of EQT GP by 129.4% during the first quarter. Franklin Resources Inc. now owns 110,664 shares of the oil and gas company’s stock valued at $2,554,000 after purchasing an additional 62,424 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of EQT GP during the first quarter valued at $215,000. Finally, Barclays PLC boosted its stake in shares of EQT GP by 5,839.6% during the first quarter. Barclays PLC now owns 563,843 shares of the oil and gas company’s stock valued at $13,012,000 after purchasing an additional 554,350 shares during the period. 9.05% of the stock is owned by hedge funds and other institutional investors.

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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