EQT Corp. (EQT) Downgraded by Tudor Pickering
EQT has been the subject of several other reports. Stifel Nicolaus upgraded shares of EQT Corp. from a hold rating to a buy rating and set a $87.00 price objective for the company in a report on Friday, August 26th. GMP Securities initiated coverage on shares of EQT Corp. in a report on Wednesday, September 28th. They issued a buy rating and a $92.00 price objective for the company. Wolfe Research initiated coverage on shares of EQT Corp. in a report on Friday, October 7th. They issued a buy rating and a $85.00 price objective for the company. Zacks Investment Research lowered shares of EQT Corp. from a buy rating to a hold rating in a report on Wednesday, August 10th. Finally, KLR Group restated a buy rating and issued a $95.00 price objective (down from $100.00) on shares of EQT Corp. in a report on Monday, August 1st. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of C$78.22.
EQT Corp. (NYSE:EQT) opened at 67.46 on Thursday. The company’s market capitalization is $11.65 billion. EQT Corp. has a 52-week low of $47.10 and a 52-week high of $80.61. The company’s 50 day moving average is $71.91 and its 200-day moving average is $71.90.
EQT Corp. (NYSE:EQT) last issued its quarterly earnings data on Thursday, July 28th. The company reported ($0.35) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.41) by $0.06. EQT Corp. had a negative net margin of 18.74% and a negative return on equity of 1.27%. The business earned $127.53 million during the quarter, compared to analyst estimates of $461.53 million. During the same period in the prior year, the business earned ($0.06) EPS. The company’s revenue for the quarter was down 71.0% on a year-over-year basis. Equities analysts anticipate that EQT Corp. will post ($0.64) EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Friday, November 11th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.18%. The ex-dividend date is Tuesday, November 8th. EQT Corp.’s dividend payout ratio (DPR) is presently -5.66%.
Institutional investors have recently modified their holdings of the company. Mizuho Asset Management Co. Ltd. boosted its position in shares of EQT Corp. by 116.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,280 shares of the company’s stock valued at $177,000 after buying an additional 1,229 shares during the period. Independent Portfolio Consultants Inc. acquired a new position in shares of EQT Corp. during the third quarter valued at $182,000. Euclid Advisors LLC acquired a new position in shares of EQT Corp. during the second quarter valued at $183,000. Capital Guardian Trust Co. boosted its position in shares of EQT Corp. by 1,304.3% in the second quarter. Capital Guardian Trust Co. now owns 2,584 shares of the company’s stock valued at $200,000 after buying an additional 2,400 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in shares of EQT Corp. by 3.4% in the first quarter. Canada Pension Plan Investment Board now owns 3,014 shares of the company’s stock valued at $203,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 87.74% of the company’s stock.
About EQT Corp.
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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