Equities analysts predict that EQT GP Holdings LP (NYSE:EQGP) will report $351.95 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for EQT GP’s earnings, with estimates ranging from $329.00 million to $374.90 million. EQT GP reported sales of $207.19 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 69.9%. The firm is expected to announce its next quarterly earnings results on Thursday, October 25th.
According to Zacks, analysts expect that EQT GP will report full-year sales of $1.23 billion for the current fiscal year, with estimates ranging from $1.18 billion to $1.26 billion. For the next year, analysts anticipate that the company will post sales of $1.70 billion per share, with estimates ranging from $1.54 billion to $1.81 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for EQT GP.
EQT GP (NYSE:EQGP) last issued its earnings results on Thursday, July 26th. The oil and gas company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.05. EQT GP had a return on equity of 12.65% and a net margin of 33.16%. The company had revenue of $269.76 million during the quarter.
Several brokerages have recently commented on EQGP. ValuEngine downgraded EQT GP from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 28th. Zacks Investment Research upgraded EQT GP from a “sell” rating to a “hold” rating in a research note on Monday, July 30th. Jefferies Financial Group began coverage on EQT GP in a research note on Wednesday, July 25th. They issued a “hold” rating and a $22.00 price target for the company. Morgan Stanley reduced their price target on EQT GP from $28.00 to $27.00 and set an “overweight” rating for the company in a research note on Friday, July 13th. Finally, Barclays reduced their price target on EQT GP from $29.00 to $26.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. EQT GP presently has a consensus rating of “Hold” and an average target price of $28.15.
Shares of NYSE EQGP opened at $21.16 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.03. EQT GP has a 12 month low of $20.30 and a 12 month high of $30.74. The company has a market cap of $6.28 billion, a PE ratio of 21.59 and a beta of 1.12.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 23rd. Investors of record on Friday, August 3rd were paid a $0.306 dividend. The ex-dividend date of this dividend was Thursday, August 2nd. This is an increase from EQT GP’s previous quarterly dividend of $0.26. This represents a $1.22 annualized dividend and a yield of 5.78%. EQT GP’s payout ratio is 124.49%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Lake Street Advisors Group LLC acquired a new position in EQT GP in the 2nd quarter valued at $548,000. PEAK6 Investments L.P. acquired a new position in EQT GP in the 2nd quarter valued at $326,000. FMR LLC raised its holdings in EQT GP by 42.9% in the 2nd quarter. FMR LLC now owns 360,800 shares of the oil and gas company’s stock valued at $8,482,000 after acquiring an additional 108,300 shares in the last quarter. Cadence Capital Management LLC raised its holdings in EQT GP by 37.0% in the 2nd quarter. Cadence Capital Management LLC now owns 66,458 shares of the oil and gas company’s stock valued at $1,562,000 after acquiring an additional 17,952 shares in the last quarter. Finally, Tortoise Capital Advisors L.L.C. raised its holdings in EQT GP by 6.3% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 1,815,908 shares of the oil and gas company’s stock valued at $42,692,000 after acquiring an additional 107,433 shares in the last quarter. 9.05% of the stock is owned by hedge funds and other institutional investors.
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.
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