EQT GP Holdings LP (EQGP) Plans Quarterly Dividend of $0.32

EQT GP Holdings LP (NYSE:EQGP) declared a quarterly dividend on Tuesday, October 23rd, NASDAQ reports. Stockholders of record on Friday, November 2nd will be paid a dividend of 0.315 per share by the oil and gas company on Friday, November 23rd. This represents a $1.26 annualized dividend and a dividend yield of 7.42%. The ex-dividend date is Thursday, November 1st. This is a boost from EQT GP’s previous quarterly dividend of $0.31.

EQT GP has a dividend payout ratio of 94.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect EQT GP to earn $1.45 per share next year, which means the company should continue to be able to cover its $1.26 annual dividend with an expected future payout ratio of 86.9%.

NYSE EQGP opened at $16.99 on Friday. EQT GP has a 12 month low of $16.32 and a 12 month high of $30.73. The company has a market cap of $5.01 billion, a price-to-earnings ratio of 17.34 and a beta of 1.12. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.03.

EQT GP (NYSE:EQGP) last released its earnings results on Thursday, October 25th. The oil and gas company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.03). EQT GP had a return on equity of 13.59% and a net margin of 30.96%. The firm had revenue of $364.58 million for the quarter, compared to the consensus estimate of $361.93 million. As a group, analysts expect that EQT GP will post 1.32 earnings per share for the current year.

A number of equities research analysts have commented on EQGP shares. Zacks Investment Research cut shares of EQT GP from a “hold” rating to a “sell” rating in a research note on Wednesday, July 4th. Barclays cut their price objective on shares of EQT GP from $29.00 to $26.00 and set an “equal weight” rating for the company in a report on Wednesday, July 11th. Morgan Stanley cut their target price on shares of EQT GP from $28.00 to $27.00 and set an “overweight” rating for the company in a report on Friday, July 13th. Jefferies Financial Group initiated coverage on shares of EQT GP in a report on Wednesday, July 25th. They issued a “hold” rating and a $22.00 target price for the company. Finally, Wells Fargo & Co cut their target price on shares of EQT GP from $28.00 to $26.00 and set a “market perform” rating for the company in a report on Monday, July 30th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. EQT GP presently has a consensus rating of “Hold” and an average 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.

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Dividend History for EQT GP (NYSE:EQGP)

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