Zacks Investment Research upgraded shares of EQT GP Holdings, LP (NYSE:EQGP) from a hold rating to a buy rating in a research report report published on Monday morning. They currently have $31.00 price objective on the oil and gas company’s stock.

According to Zacks, “EQT GP Holdings, LP is a limited partnership which is engaged in owning, operating, acquiring and developing midstream assets primarily in the Appalachian Basin through its subsidiaries. EQT GP Holdings, LP is based in Pittsburgh, Pennsylvania. “

Several other brokerages also recently issued reports on EQGP. BidaskClub downgraded shares of EQT GP Holdings, from a hold rating to a sell rating in a report on Saturday, July 8th. Morgan Stanley restated 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. Barclays PLC cut shares of EQT GP Holdings, from an overweight rating to an equal weight rating and lowered their price objective for the company from $32.00 to $30.00 in a research report on Tuesday, July 18th. Stifel Nicolaus reiterated a hold rating and set a $25.00 price target on shares of EQT GP Holdings, in a research report on Friday, July 21st. Finally, Scotiabank set a $30.00 price target on shares of EQT GP Holdings, and gave the stock a hold rating in a research report on Friday, July 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The stock has an average rating of Buy and an average target price of $32.63.

EQT GP Holdings, (NYSE:EQGP) traded down 0.14% during trading on Monday, hitting $27.63. 33,024 shares of the company traded hands. EQT GP Holdings, has a one year low of $21.45 and a one year high of $31.76. The firm has a 50 day moving average of $28.74 and a 200 day moving average of $27.81. The firm has a market cap of $7.35 billion, a P/E ratio of 31.22 and a beta of 1.31.

EQT GP Holdings, (NYSE:EQGP) last issued its quarterly earnings results on Thursday, October 26th. The oil and gas company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $207.19 million during the quarter. EQT GP Holdings, had a net margin of 30.98% and a return on equity of 12.14%. On average, analysts expect that EQT GP Holdings, will post $0.94 earnings per share for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Friday, November 3rd will be given a $0.228 dividend. This represents a $0.91 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Thursday, November 2nd. This is a positive change from EQT GP Holdings,’s previous quarterly dividend of $0.21. EQT GP Holdings,’s payout ratio is currently 89.36%.

Several large investors have recently added to or reduced their stakes in EQGP. JPMorgan Chase & Co. lifted its holdings in shares of EQT GP Holdings, by 7.3% in the first quarter. JPMorgan Chase & Co. now owns 4,635 shares of the oil and gas company’s stock worth $127,000 after acquiring an additional 315 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in EQT GP Holdings, by 7.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,032 shares of the oil and gas company’s stock valued at $242,000 after buying an additional 556 shares during the last quarter. Citadel Advisors LLC bought a new position in EQT GP Holdings, in the 2nd quarter valued at approximately $428,000. Conning Inc. bought a new position in EQT GP Holdings, in the 2nd quarter valued at approximately $435,000. Finally, Franklin Resources Inc. raised its holdings in EQT GP Holdings, by 3.3% in the 2nd quarter. Franklin Resources Inc. now owns 26,640 shares of the oil and gas company’s stock valued at $803,000 after buying an additional 840 shares during the last quarter. Hedge funds and other institutional investors own 10.23% of the company’s stock.

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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