EQT GP Holdings LP (NYSE:EQGP) has been downgraded to Hold in a report by Zacks Investment Research today.
- Updated: November 29, 2016
Zacks Investment Research has downgraded EQT GP Holdings LP (NYSE:EQGP) to Hold in a report released on 11/29/2016.
Previously on 11/22/2016, Zacks Investment Research reported on EQT GP Holdings LP (NYSE:EQGP) increased the target price from $0.00 to $27.00. At the time, this indicated a possible upside of 0.12%.
Yesterday EQT GP Holdings LP (NYSE:EQGP) traded 1.09% higher at $23.79. The company’s 50-day moving average is $24.05 and its 200-day moving average is $25.02. The last closing price is down -3.89% from the 200-day moving average, compared to the S&P 500 which has decreased -0.03% over the same time period. 78,271 shares of the stock traded hands, down from an average trading volume of 152,203
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EQT GP Holdings LP has a 52 week low of $17.39 and a 52 week high of $27.74 with a P/E ratio of 32.02 The company’s market cap is currently $0.
In addition to Zacks Investment Research reporting its stock price target, a total of 13 brokers have issued a report on the company. The average stock price target is $30.12 with 2 brokers rating the stock a strong buy, 5 brokers rating the stock a buy, 8 brokers rating the stock a hold, 0 brokers rating the stock a underperform, and finally 0 brokers rating the stock a sell.
General Information About EQT GP Holdings LP (NYSE:EQGP)
EQT GP Holdings, LP (EQGP) is a limited partnership company and subsidiary of EQT Gathering Holdings, LLC (EQT Gathering Holdings). The Company is 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. Its segments include Transmission and storage, and Gathering. The Transmission and storage segment includes EQM's Federal Energy Regulatory Commission (FERC)-regulated interstate pipeline and storage business. The Gathering segment includes high-pressure gathering lines and the FERC-regulated low-pressure gathering system. EQGP has no independent operations and EQGP's assets consist of partnership interests in EQM. EQM provides midstream services to EQT and third parties in the Appalachian Basin across over 20 counties in Pennsylvania and West Virginia. EQGP's assets and operations are located in the continental United States.
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