EQT GP Holdings LP (EQGP) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $0.19 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.16. The company posted revenue of $180.60 million in the period, compared to analysts expectations of $166.35 million. The company’s revenue was up 16.7% compared to the same quarter last year.
Many Wall Street Analysts have commented on EQT GP Holdings LP. EQT GP Holdings LP was Initiated by Stifel to “Hold” on Mar 17, 2016. EQT GP Holdings LP was Initiated by Morgan Stanley to “Equal-Weight” on Feb 25, 2016.
EQT GP Holdings LP opened for trading at $25.71 and hit $26.75 on the upside on Wednesday, eventually ending the session at $26.37, with a gain of 3.05% or 0.78 points. The heightened volatility saw the trading volume jump to 1,54,399 shares. Company has a market cap of $7,019 M.
In a different news, on May 15, 2015, Stephen A Thorington (director) purchased 31,482 shares at $27.00 per share price. According to the SEC, on May 15, 2015, Theresa Z Bone (VP Finance and CAO) purchased 19,986 shares at $27.00 per share price. On May 15, 2015, Philip P Conti (CFO) purchased 28,503 shares at $27.00 per share price, according to the Form-4 filing with the securities and exchange commission.
EQT GP Holdings LP is a limited partnership formed to own partnership interests in EQT Midstream Partners LP (EQM) a growth-oriented limited partnership formed by EQT Corporation (EQT) to own operate acquire and develop midstream assets in the Appalachian Basin. EQT Midstream Partners LP provides midstream services to EQT Corporation and third-party companies through its strategically located transmission storage and gathering systems that service the Marcellus and Utica regions. EQT Midstream Partners LP owns 700 miles and operates over 200 miles of federal energy regulatory commission (FERC)-regulated interstate pipelines and also owns over 1500 miles of high- and low-pressure gathering lines. The Company’s projects include Equitrans Expansion Mountain Valley Pipeline and Ohio Valley Connector.