EQGP Holdings LP (EQGP) Given Average Recommendation of “Hold” by Analysts

Shares of EQGP Holdings LP (NYSE:EQGP) have been assigned a consensus rating of “Hold” from the fourteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $23.36.

EQGP has been the topic of a number of research reports. US Capital Advisors upgraded EQGP from a “hold” rating to an “overweight” rating in a report on Wednesday, November 14th. Citigroup upgraded EQGP from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $31.50 to $19.00 in a report on Thursday, November 29th. Morgan Stanley set a $23.00 price target on EQGP and gave the company a “buy” rating in a report on Wednesday, November 14th. Jefferies Financial Group downgraded EQGP from a “buy” rating to a “hold” rating and set a $19.95 price target on the stock. in a report on Thursday, December 20th. Finally, ValuEngine downgraded EQGP from a “hold” rating to a “sell” rating in a report on Thursday, January 10th.

In other EQGP news, major shareholder Midstream Corp Equitrans acquired 15,364,421 shares of EQGP stock in a transaction dated Monday, December 31st. The stock was bought at an average cost of $20.00 per share, with a total value of $307,288,420.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David L. Porges sold 56,263 shares of the stock in a transaction that occurred on Tuesday, December 18th. The shares were sold at an average price of $19.86, for a total value of $1,117,383.18. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 41,826,129 shares of company stock worth $836,522,580.

Hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. acquired a new stake in shares of EQGP in the fourth quarter valued at $160,000. Tortoise Index Solutions LLC increased its stake in shares of EQGP by 114.5% in the fourth quarter. Tortoise Index Solutions LLC now owns 9,870 shares of the oil and gas company’s stock valued at $197,000 after buying an additional 5,269 shares in the last quarter. First Republic Investment Management Inc. acquired a new stake in shares of EQGP in the third quarter valued at $215,000. Virtu Financial LLC acquired a new stake in shares of EQGP in the fourth quarter valued at $236,000. Finally, First Trust Advisors LP acquired a new stake in shares of EQGP in the third quarter valued at $361,000. 8.89% of the stock is owned by hedge funds and other institutional investors.

NYSE:EQGP remained flat at $$19.97 during mid-day trading on Friday. EQGP has a 52 week low of $15.36 and a 52 week high of $30.13. The company has a market cap of $6.04 billion, a PE ratio of 20.38 and a beta of 1.21. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.34 and a current ratio of 0.34.

EQGP Company Profile

EQGP 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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Analyst Recommendations for EQGP (NYSE:EQGP)

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