Investors Buy EQT Corp. (EQT) on Weakness
Investors bought shares of EQT Corp. (NYSE:EQT) on weakness during trading on Tuesday. $36.84 million flowed into the stock on the tick-up and $14.53 million flowed out of the stock on the tick-down, for a money net flow of $22.31 million into the stock. Of all stocks tracked, EQT Corp. had the 14th highest net in-flow for the day. EQT Corp. traded down ($0.24) for the day and closed at $75.23
EQT has been the topic of several recent analyst reports. Deutsche Bank AG boosted their target price on shares of EQT Corp. from $74.00 to $79.00 in a report on Wednesday, March 23rd. Zacks Investment Research upgraded shares of EQT Corp. from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a report on Tuesday, July 5th. Barclays PLC restated a “buy” rating on shares of EQT Corp. in a report on Tuesday, April 12th. Royal Bank Of Canada restated a “buy” rating and issued a $85.00 target price on shares of EQT Corp. in a report on Tuesday, May 3rd. Finally, Wells Fargo & Co. restated a “hold” rating on shares of EQT Corp. in a report on Tuesday, May 3rd. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. EQT Corp. has an average rating of “Buy” and an average price target of C$75.88.
The company has a 50 day moving average of $76.29 and a 200-day moving average of $66.29. The firm’s market capitalization is $12.08 billion.
EQT Corp. (NYSE:EQT) last released its earnings results on Thursday, April 28th. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.09. The business had revenue of $545.10 million for the quarter, compared to the consensus estimate of $556.81 million. EQT Corp.’s revenue for the quarter was down 25.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.08 EPS. On average, analysts anticipate that EQT Corp. will post ($0.70) EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Friday, August 12th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.16%. The ex-dividend date is Wednesday, August 10th.
In related news, SVP Randall L. Crawford sold 4,981 shares of the stock in a transaction on Thursday, June 30th. The shares were sold at an average price of C$77.21, for a total transaction of C$384,583.01. Following the transaction, the senior vice president now owns 90,723 shares of the company’s stock, valued at approximately C$7,004,722.83. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
A number of large investors have recently made changes to their positions in EQT. Mizuho Trust & Banking Co. Ltd. boosted its stake in shares of EQT Corp. by 34.0% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 296,086 shares of the company’s stock valued at $15,222,000 after buying an additional 75,071 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of EQT Corp. by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 13,559,385 shares of the company’s stock valued at $706,850,000 after buying an additional 408,740 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in shares of EQT Corp. by 46.0% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 117,481 shares of the company’s stock valued at $6,124,000 after buying an additional 37,000 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of EQT Corp. by 6.2% in the fourth quarter. ProShare Advisors LLC now owns 34,551 shares of the company’s stock valued at $1,801,000 after buying an additional 2,032 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of EQT Corp. by 11.6% in the fourth quarter. First Trust Advisors LP now owns 168,434 shares of the company’s stock valued at $8,780,000 after buying an additional 17,493 shares during the last quarter.
EQT Corporation (EQT) is an energy company. The Company operates through two business segments: EQT Production and EQT Midstream. EQT Production is a natural gas producer in the Appalachian Basin with over 10 trillion cubic feet equivalent (Tcfe) of natural gas, natural gas liquid (NGL) and crude oil reserves across approximately 3.4 million acres, including approximately 630,000 gross acres in the Marcellus play.
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