JPMorgan Chase & Co. raised its position in shares of EQT GP Holdings, LP (NYSE:EQGP) by 7.3% during the first quarter, according to its most recent filing with the SEC. The fund owned 4,635 shares of the oil and gas company’s stock after buying an additional 315 shares during the period. JPMorgan Chase & Co.’s holdings in EQT GP Holdings, were worth $127,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. HITE Hedge Asset Management LLC acquired a new stake in EQT GP Holdings, during the fourth quarter worth approximately $2,367,000. Hollencrest Securities LLC acquired a new stake in EQT GP Holdings, during the first quarter worth approximately $208,000. Chickasaw Capital Management LLC boosted its stake in EQT GP Holdings, by 2.2% in the first quarter. Chickasaw Capital Management LLC now owns 3,361,427 shares of the oil and gas company’s stock worth $92,036,000 after buying an additional 71,536 shares in the last quarter. Finally, Miller Howard Investments Inc. NY boosted its stake in EQT GP Holdings, by 0.4% in the first quarter. Miller Howard Investments Inc. NY now owns 79,268 shares of the oil and gas company’s stock worth $2,170,000 after buying an additional 340 shares in the last quarter. 10.91% of the stock is currently owned by institutional investors and hedge funds.
Shares of EQT GP Holdings, LP (NYSE EQGP) opened at 28.05 on Friday. The company has a market capitalization of $7.47 billion, a PE ratio of 31.69 and a beta of 1.31. The stock has a 50 day moving average price of $28.57 and a 200 day moving average price of $27.44. EQT GP Holdings, LP has a one year low of $21.45 and a one year high of $31.76.
EQT GP Holdings, (NYSE:EQGP) last released its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.05. EQT GP Holdings, had a net margin of 30.65% and a return on equity of 11.72%. The firm had revenue of $199 million during the quarter, compared to the consensus estimate of $194.49 million. During the same quarter in the prior year, the firm earned $1.27 EPS. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, equities research analysts predict that EQT GP Holdings, LP will post $0.92 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Friday, August 4th will be issued a $0.21 dividend. This is an increase from EQT GP Holdings,’s previous quarterly dividend of $0.19. The ex-dividend date is Wednesday, August 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 2.99%. EQT GP Holdings,’s dividend payout ratio is presently 94.38%.
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A number of equities research analysts have commented on EQGP shares. Royal Bank Of Canada reissued a “buy” rating and set a $36.00 price target on shares of EQT GP Holdings, in a report on Thursday, April 13th. BidaskClub raised EQT GP Holdings, from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Morgan Stanley reissued an “overweight” rating and set a $31.00 price target (up from $30.00) on shares of EQT GP Holdings, in a report on Friday, July 14th. Barclays PLC cut EQT GP Holdings, from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $32.00 to $30.00 in a report on Tuesday, July 18th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $25.00 price target on shares of EQT GP Holdings, in a report on Friday, July 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $31.14.
About EQT GP Holdings,
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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