EQT GP (EQGP) Releases Earnings Results, Misses Estimates By $0.03 EPS

EQT GP (NYSE:EQGP) issued its earnings results on Thursday. The oil and gas company reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.03), MarketWatch Earnings reports. EQT GP had a return on equity of 12.65% and a net margin of 33.16%. The company had revenue of $364.58 million during the quarter, compared to analyst estimates of $361.93 million.

NYSE EQGP traded up $0.43 during trading hours on Friday, reaching $16.99. 340,100 shares of the company’s stock were exchanged, compared to its average volume of 183,943. The firm has a market cap of $5.73 billion, a PE ratio of 17.34 and a beta of 1.12. EQT GP has a one year low of $16.32 and a one year high of $30.73. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.41 and a quick ratio of 1.41.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 23rd. Investors of record on Friday, November 2nd will be given a dividend of $0.315 per share. The ex-dividend date is Thursday, November 1st. This is a positive change from EQT GP’s previous quarterly dividend of $0.31. This represents a $1.26 dividend on an annualized basis and a yield of 7.42%. EQT GP’s dividend payout ratio is 124.49%.

A number of brokerages have recently issued reports on EQGP. ValuEngine cut EQT GP from a “sell” rating to a “strong sell” rating in a report on Tuesday. Zacks Investment Research raised EQT GP from a “sell” rating to a “hold” rating in a report on Monday, July 30th. Jefferies Financial Group began coverage on EQT GP in a report on Wednesday, July 25th. They issued a “hold” rating and a $22.00 target price for the company. Morgan Stanley dropped their target price on EQT GP from $28.00 to $27.00 and set an “overweight” rating for the company in a report on Friday, July 13th. Finally, Barclays dropped their target price on EQT GP from $29.00 to $26.00 and set an “equal weight” rating for the company in a report on Wednesday, July 11th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. EQT GP currently has an average rating of “Hold” and a consensus price target of $26.77.

About EQT GP

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: What is the NASDAQ?

Earnings History for EQT GP (NYSE:EQGP)

Receive News & Ratings for EQT GP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQT GP and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply