EQT GP (NYSE:EQGP) was downgraded by analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research note issued on Monday, Marketbeat reports. They currently have a $32.00 price target on the oil and gas company’s stock, up from their previous price target of $29.00. Royal Bank of Canada’s target price suggests a potential upside of 24.95% from the company’s previous close.

A number of other research firms also recently issued reports on EQGP. Zacks Investment Research downgraded EQT GP from a “hold” rating to a “sell” rating in a research note on Tuesday, January 16th. Bank of America initiated coverage on EQT GP in a research note on Tuesday, January 9th. They issued a “buy” rating on the stock. Credit Suisse Group initiated coverage on EQT GP in a research note on Thursday, January 4th. They issued an “outperform” rating and a $32.00 price target on the stock. Citigroup initiated coverage on EQT GP in a research note on Tuesday, January 23rd. They issued a “hold” rating and a $32.00 price target on the stock. Finally, Mitsubishi UFJ Financial Group restated an “overweight” rating on shares of EQT GP in a research note on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $31.60.

EQT GP (NYSE:EQGP) opened at $25.61 on Monday. EQT GP has a 52-week low of $24.18 and a 52-week high of $31.76. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $6,741.96, a P/E ratio of 26.95, a P/E/G ratio of 1.21 and a beta of 1.15.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its position in EQT GP by 0.9% during the second quarter. JPMorgan Chase & Co. now owns 4,675 shares of the oil and gas company’s stock valued at $141,000 after purchasing an additional 40 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in EQT GP by 7.4% during the second quarter. The Manufacturers Life Insurance Company now owns 8,032 shares of the oil and gas company’s stock valued at $242,000 after purchasing an additional 556 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in EQT GP during the third quarter valued at $245,000. Keybank National Association OH purchased a new position in EQT GP during the third quarter valued at $278,000. Finally, MAI Capital Management lifted its position in EQT GP by 19.4% during the fourth quarter. MAI Capital Management now owns 26,878 shares of the oil and gas company’s stock valued at $723,000 after purchasing an additional 4,376 shares in the last quarter. Institutional investors own 10.23% of the company’s stock.

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About EQT GP

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 (NYSE:EQGP)

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