It Seems EQT GP Holdings, LP (EQGP) Will Go Down. Formed A Few Months Bearish Double Bottom Chart Pattern

September 14, 2018 - By Rene Reddy

The chart of EQT GP Holdings, LP (EQGP) shows a double bottom with $19.46 target or 7.00 % below today’s $20.93 share price. The 9 months chart pattern indicates high risk for the $6.33B company. It was reported on Sep, 14 by Finviz.com. If the $19.46 price target is reached, the company will be worth $443.10 million less. Double bottoms are rare but powerful chart patterns.

The stock decreased 1.09% or $0.23 during the last trading session, reaching $20.93. About 5,337 shares traded. EQT GP Holdings, LP (NYSE:EQGP) has declined 26.38% since September 14, 2017 and is downtrending. It has underperformed by 42.00% the S&P500.

Analysts await EQT GP Holdings, LP (NYSE:EQGP) to report earnings on October, 25. They expect $0.34 earnings per share, up 36.00 % or $0.09 from last year’s $0.25 per share. EQGP’s profit will be $102.83M for 15.39 P/E if the $0.34 EPS becomes a reality. After $0.32 actual earnings per share reported by EQT GP Holdings, LP for the previous quarter, Wall Street now forecasts 6.25 % EPS growth.

EQT GP Holdings, LP (NYSE:EQGP) Ratings Coverage

Among 8 analysts covering EQT GP Holdings (NYSE:EQGP), 3 have Buy rating, 0 Sell and 5 Hold. Therefore 38% are positive. EQT GP Holdings has $3400 highest and $22 lowest target. $26.63’s average target is 27.23% above currents $20.93 stock price. EQT GP Holdings had 13 analyst reports since March 16, 2018 according to SRatingsIntel. Morgan Stanley maintained the shares of EQGP in report on Friday, March 16 with “Overweight” rating. The firm has “Market Perform” rating by Wells Fargo given on Monday, July 30. The company was maintained on Tuesday, April 17 by Barclays Capital. The firm has “Buy” rating given on Wednesday, April 25 by JonesTrading. The stock of EQT GP Holdings, LP (NYSE:EQGP) earned “Buy” rating by Seaport Global on Monday, April 9. Morgan Stanley maintained the shares of EQGP in report on Friday, July 13 with “Overweight” rating. Seaport Global upgraded the shares of EQGP in report on Friday, April 27 to “Hold” rating. Morgan Stanley maintained EQT GP Holdings, LP (NYSE:EQGP) rating on Friday, August 17. Morgan Stanley has “Overweight” rating and $26 target. As per Wednesday, July 11, the company rating was maintained by Barclays Capital. Bank of America maintained the stock with “Neutral” rating in Wednesday, August 1 report.

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 . The company has market cap of $6.33 billion. EQM offers natural gas transmission, storage, and gathering services to various third parties across 24 counties in Pennsylvania, West Virginia, and Ohio. It has a 21.12 P/E ratio. As of December 31, 2016, it owned and operated 300 miles of high pressure gathering lines and 1,500 miles of Federal Energy Regulatory Commission (FERC)-regulated low pressure gathering lines.

EQT GP Holdings, LP (NYSE:EQGP) Ratings Chart

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