EQT GP Holdings Reports Q2 Attributable Net Income Of $51.2 Mln

(RTTNews) - EQT GP Holdings LP (EQGP) announced net income attributable to EQGP of $51.2 million for the second quarter.

For the second quarter of 2016, EQGP will pay a quarterly cash distribution of $0.15 per unit, which will be paid on August 22, 2016 to EQGP unitholders of record at the close of business on August 5, 2016. The quarterly cash distribution is $0.016 per unit, or 12% higher than the first quarter of 2016; and $0.058 per unit, or 63% higher than the corresponding full second quarter 2015 distribution. For the quarter, EQGP expects to receive $40.8 million of cash distributions from EQM and will distribute $39.9 million.

EQGP forecasts a per unit distribution of $0.62 for 2016, which is 55% higher than the pro-forma full-year 2015 per unit distribution of $0.40. For 2017, EQGP is expecting per unit distribution growth of at least 40%.