EQT Corp. (EQT) Rating Lowered to Hold at Tudor Pickering
EQT Corp. (NYSE:EQT) was downgraded by equities research analysts at Tudor Pickering from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
A number of other equities analysts have also recently weighed in on EQT. KLR Group reiterated a “buy” rating and set a $95.00 price target (down from $100.00) on shares of EQT Corp. in a report on Monday, August 1st. Howard Weil decreased their target price on EQT Corp. from $92.00 to $91.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 29th. Zacks Investment Research raised EQT Corp. from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research note on Tuesday, July 5th. Citigroup Inc. increased their target price on EQT Corp. from $72.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, July 29th. Finally, Barclays PLC increased their target price on EQT Corp. from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, July 29th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of C$78.22.
EQT Corp. (NYSE:EQT) opened at 67.46 on Thursday. The firm has a 50-day moving average price of $71.91 and a 200 day moving average price of $71.90. The stock’s market cap is $11.65 billion. EQT Corp. has a 1-year low of $47.10 and a 1-year high of $80.61.
EQT Corp. (NYSE:EQT) last released its quarterly earnings results on Thursday, July 28th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.06. The business earned $127.53 million during the quarter, compared to analysts’ expectations of $461.53 million. EQT Corp. had a negative return on equity of 1.27% and a negative net margin of 18.74%. The company’s revenue was down 71.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.06) EPS. On average, equities research analysts anticipate that EQT Corp. will post ($0.64) EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 11th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $0.12 dividend on an annualized basis and a yield of 0.18%. EQT Corp.’s dividend payout ratio is presently -5.66%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mizuho Asset Management Co. Ltd. increased its position in EQT Corp. by 116.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,280 shares of the company’s stock worth $177,000 after buying an additional 1,229 shares in the last quarter. Euclid Advisors LLC bought a new position in shares of EQT Corp. during the second quarter valued at $183,000. Independent Portfolio Consultants Inc. bought a new position in shares of EQT Corp. during the third quarter valued at $182,000. Capital Guardian Trust Co. increased 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, Boston Family Office LLC bought a new position in shares of EQT Corp. during the second quarter valued at $205,000. 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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