EQT Corp. (EQT) Receives Average Recommendation of “Buy” from Brokerages
EQT Corp. (NYSE:EQT) has been given a consensus rating of “Buy” by the twenty-one ratings firms that are presently covering the stock. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $78.44.
Several research analysts have issued reports on the stock. Drexel Hamilton assumed coverage on shares of EQT Corp. in a report on Thursday, November 17th. They issued a “buy” rating for the company. Howard Weil cut shares of EQT Corp. from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $91.00 to $90.00 in a report on Thursday, August 11th. Tudor Pickering cut shares of EQT Corp. from a “buy” rating to a “hold” rating in a report on Thursday, October 13th. Zacks Investment Research cut shares of EQT Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 10th. Finally, Scotiabank cut shares of EQT Corp. from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $91.00 to $90.00 in a report on Thursday, August 11th.
EQT Corp. (NYSE:EQT) traded down 1.27% during midday trading on Wednesday, reaching $70.07. 1,846,585 shares of the company were exchanged. EQT Corp. has a 52-week low of $47.10 and a 52-week high of $80.61. The company’s market capitalization is $12.11 billion. The company has a 50 day moving average of $66.99 and a 200-day moving average of $71.62.
EQT Corp. (NYSE:EQT) last issued its quarterly earnings results on Thursday, October 27th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.15. EQT Corp. had a negative net margin of 21.61% and a negative return on equity of 1.14%. The company earned $502.55 million during the quarter, compared to analysts’ expectations of $456.55 million. During the same period last year, the company posted ($0.33) EPS. EQT Corp.’s revenue was down 4.7% on a year-over-year basis. On average, equities research analysts anticipate that EQT Corp. will post ($0.58) earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Friday, November 11th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.17%. The ex-dividend date of this dividend is Tuesday, November 8th. EQT Corp.’s dividend payout ratio (DPR) is presently -4.92%.
Institutional investors have recently added to or reduced their stakes in the company. ETRADE Capital Management LLC bought a new position in EQT Corp. during the third quarter valued at approximately $395,000. D.A. Davidson & CO. increased its position in EQT Corp. by 0.6% in the third quarter. D.A. Davidson & CO. now owns 5,296 shares of the company’s stock valued at $381,000 after buying an additional 34 shares during the period. Price T Rowe Associates Inc. MD increased its position in EQT Corp. by 8.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 17,065,832 shares of the company’s stock valued at $1,239,321,000 after buying an additional 1,344,202 shares during the period. Quantitative Systematic Strategies LLC bought a new position in EQT Corp. during the third quarter valued at approximately $1,154,000. Finally, Crow Point Partners LLC bought a new position in EQT Corp. during the third quarter valued at approximately $4,256,000. 89.09% of the stock is currently owned by hedge funds and other institutional investors.
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EQT Corp. Company Profile
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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