EQT GP Holdings, LP (EQGP) Stock Rating Reaffirmed by Royal Bank Of Canada

EQT GP Holdings, LP (NYSE:EQGP)‘s stock had its “buy” rating reaffirmed by equities research analysts at Royal Bank Of Canada in a report issued on Tuesday. They presently have a $37.00 price objective on the oil and gas company’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 23.46% from the stock’s current price.

Several other equities analysts also recently commented on the company. Scotiabank set a $30.00 price objective on 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 previously 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 downgraded EQT GP Holdings, from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. Finally, Barclays PLC downgraded 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $32.86.

EQT GP Holdings, (NYSE:EQGP) last announced its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.05. The company had revenue of $199.00 million for the quarter, compared to the consensus estimate of $194.49 million. EQT GP Holdings, had a return on equity of 11.72% and a net margin of 30.65%. EQT GP Holdings,’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.27 EPS.

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Several institutional investors and hedge funds have recently bought and sold shares of EQGP. JPMorgan Chase & Co. grew its position in shares of EQT GP Holdings, by 7.3% during the 1st quarter. JPMorgan Chase & Co. now owns 4,635 shares of the oil and gas company’s stock worth $127,000 after buying an additional 315 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of EQT GP Holdings, by 1.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 950,584 shares of the oil and gas company’s stock worth $26,027,000 after buying an additional 12,774 shares in the last quarter. HighTower Advisors LLC bought a new position in shares of EQT GP Holdings, during the 1st quarter worth $819,000. Driehaus Capital Management LLC bought a new position in shares of EQT GP Holdings, during the 1st quarter worth $1,578,000. Finally, Proficio Capital Partners LLC grew its position in shares of 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. 10.27% of the stock is currently owned by institutional investors and hedge funds.

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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