EQT GP Holdings, LP (EQGP) Given Buy Rating at Royal Bank Of Canada

Royal Bank Of Canada reissued their buy rating on shares of EQT GP Holdings, LP (NYSE:EQGP) in a research report sent to investors on Tuesday morning. The firm currently has a $37.00 price target on the oil and gas company’s stock.

Several other equities research analysts have also recently commented on the stock. Scotiabank set a $30.00 price objective on shares of EQT GP Holdings, and gave the company a hold rating in a research report on Friday, July 21st. Morgan Stanley reaffirmed an overweight rating and issued a $31.00 price objective (up from $30.00) on shares of EQT GP Holdings, in a research report on Friday, July 14th. Stifel Nicolaus reaffirmed a hold rating and issued a $25.00 price objective on shares of EQT GP Holdings, in a research report on Friday, July 21st. BidaskClub cut shares of EQT GP Holdings, from a hold rating to a sell rating in a research report on Saturday, July 8th. Finally, Barclays PLC cut shares of EQT GP Holdings, from an overweight rating to an equal weight rating and cut their price objective for the company from $32.00 to $30.00 in a research report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $32.86.

Shares of EQT GP Holdings, (NYSE EQGP) opened at 29.65 on Tuesday. The stock has a market cap of $7.89 billion, a price-to-earnings ratio of 33.50 and a beta of 1.31. EQT GP Holdings, has a 12-month low of $21.45 and a 12-month high of $30.65. The stock has a 50 day moving average price of $29.06 and a 200-day moving average price of $29.06.

EQT GP Holdings, (NYSE:EQGP) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The company had revenue of $199.00 million for the quarter, compared to analysts’ expectations of $194.49 million. EQT GP Holdings, had a net margin of 30.65% and a return on equity of 11.72%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period last year, the firm posted $1.27 earnings per share. Equities analysts anticipate that EQT GP Holdings, will post $0.94 EPS for the current fiscal year.

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Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its position in EQT GP Holdings, by 7.3% in the 1st quarter. JPMorgan Chase & Co. now owns 4,635 shares of the oil and gas company’s stock valued at $127,000 after acquiring an additional 315 shares in the last quarter. Proficio Capital Partners LLC lifted its position in EQT GP Holdings, by 4.2% during the 1st quarter. Proficio Capital Partners LLC now owns 7,989 shares of the oil and gas company’s stock worth $211,000 after buying an additional 320 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in EQT GP Holdings, by 7.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,032 shares of the oil and gas company’s stock worth $242,000 after buying an additional 556 shares in the last quarter. Citadel Advisors LLC bought a new stake in EQT GP Holdings, during the 2nd quarter worth about $428,000. Finally, Conning Inc. bought a new stake in EQT GP Holdings, during the 2nd quarter worth about $435,000. 10.27% of the stock is currently owned by institutional investors and hedge funds.

EQT GP Holdings, Company Profile

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.

Analyst Recommendations for EQT GP Holdings, (NYSE:EQGP)

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