EQT Corp. (EQT) Trading Down 3.2%
EQT Corp. (NYSE:EQT) was down 3.2% during mid-day trading on Wednesday . The stock traded as low as $75.54 and last traded at $75.87, with a volume of 858,376 shares trading hands. The stock had previously closed at $78.41.
Several equities research analysts have issued reports on EQT shares. Stifel Nicolaus started coverage on shares of EQT Corp. in a research note on Thursday, March 17th. They issued a “hold” rating on the stock. Deutsche Bank AG lifted their price target on shares of EQT Corp. from $74.00 to $79.00 in a research note on Wednesday, March 23rd. Barclays PLC reiterated a “buy” rating on shares of EQT Corp. in a research note on Tuesday, April 12th. Royal Bank Of Canada restated a “buy” rating and set a $85.00 price objective on shares of EQT Corp. in a research note on Tuesday, May 3rd. Finally, Wells Fargo & Co. restated a “hold” rating on shares of EQT Corp. in a research note on Tuesday, May 3rd. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of C$75.88.
The firm has a 50 day moving average price of $76.06 and a 200 day moving average price of $65.61. The stock’s market capitalization is $12.23 billion.
EQT Corp. (NYSE:EQT) last released its quarterly earnings results on Thursday, April 28th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.09. The firm had revenue of $545.10 million for the quarter, compared to the consensus estimate of $556.81 million. The firm’s revenue for the quarter was down 25.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.08 earnings per share. On average, analysts forecast that EQT Corp. will post ($0.71) earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Friday, August 12th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.16%.
In related news, SVP Randall L. Crawford sold 4,981 shares of the firm’s stock in a transaction dated 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 directly owns 90,723 shares of the company’s stock, valued at C$7,004,722.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Several hedge funds and institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in EQT Corp. by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 13,559,385 shares of the company’s stock worth $706,850,000 after buying an additional 408,740 shares during the last quarter. Boston Partners raised its position in EQT Corp. by 12.3% in the fourth quarter. Boston Partners now owns 3,746,392 shares of the company’s stock worth $195,299,000 after buying an additional 409,024 shares during the last quarter. Dimensional Fund Advisors LP raised its position in EQT Corp. by 5.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 306,526 shares of the company’s stock worth $15,976,000 after buying an additional 14,620 shares during the last quarter. Mizuho Trust & Banking Co. Ltd. raised its position in EQT Corp. by 34.0% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 296,086 shares of the company’s stock worth $15,222,000 after buying an additional 75,071 shares during the last quarter. Finally, First Trust Advisors LP raised its position in EQT Corp. by 11.6% in the fourth quarter. First Trust Advisors LP now owns 168,434 shares of the company’s stock worth $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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