EQT GP (EQGP) Stock Rating Upgraded by Citigroup

Citigroup upgraded shares of EQT GP (NYSE:EQGP) from a neutral rating to a buy rating in a research report report published on Thursday, Marketbeat Ratings reports. Citigroup currently has $19.00 price target on the oil and gas company’s stock, down from their previous price target of $31.50.

Other research analysts also recently issued research reports about the company. Mitsubishi UFJ Financial Group downgraded EQT GP from an overweight rating to a neutral rating in a research note on Thursday, October 25th. Bank of America cut their price target on EQT GP from $27.00 to $24.00 and set a neutral rating for the company in a research note on Wednesday, August 1st. Morgan Stanley cut their price target on EQT GP from $26.00 to $24.00 and set a buy rating for the company in a research note on Tuesday, October 30th. ValuEngine downgraded EQT GP from a sell rating to a strong sell rating in a research note on Tuesday, August 28th. Finally, US Capital Advisors raised EQT GP from a hold rating to an overweight rating in a research note on Wednesday, November 14th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $25.00.

NYSE:EQGP opened at $20.02 on Thursday. The firm has a market cap of $6.06 billion, a PE ratio of 20.43 and a beta of 1.43. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.34 and a quick ratio of 0.34. EQT GP has a 52-week low of $15.36 and a 52-week high of $30.73.

EQT GP (NYSE:EQGP) last released its quarterly earnings results on Thursday, October 25th. The oil and gas company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.03). The firm had revenue of $364.58 million for the quarter, compared to analyst estimates of $361.93 million. EQT GP had a return on equity of 10.93% and a net margin of 30.96%. On average, analysts expect that EQT GP will post 1.25 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 23rd. Investors of record on Friday, November 2nd were given a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 6.29%. The ex-dividend date of this dividend was Thursday, November 1st. This is a boost from EQT GP’s previous quarterly dividend of $0.31. EQT GP’s dividend payout ratio (DPR) is currently 128.57%.

A number of institutional investors have recently bought and sold shares of EQGP. Neuberger Berman Group LLC increased its position in EQT GP by 18.8% during the 3rd quarter. Neuberger Berman Group LLC now owns 7,776,914 shares of the oil and gas company’s stock worth $161,993,000 after purchasing an additional 1,231,905 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its position in EQT GP by 24.2% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 1,417,422 shares of the oil and gas company’s stock worth $29,513,000 after purchasing an additional 275,945 shares in the last quarter. Virtus ETF Advisers LLC purchased a new stake in EQT GP during the 3rd quarter worth about $3,986,000. Dividend Assets Capital LLC purchased a new stake in EQT GP during the 2nd quarter worth about $3,794,000. Finally, FMR LLC increased its position in EQT GP by 42.9% during the 2nd quarter. FMR LLC now owns 360,800 shares of the oil and gas company’s stock worth $8,482,000 after purchasing an additional 108,300 shares in the last quarter. Hedge funds and other institutional investors own 8.83% 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.

See Also: Liquidity

Analyst Recommendations for EQT GP (NYSE:EQGP)

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