Royal Bank Of Canada Reiterates Hold Rating for EQT Corporation (EQT)
Royal Bank Of Canada reissued their hold rating on shares of EQT Corporation (NYSE:EQT) in a report published on Thursday morning. They currently have a $78.00 price objective on the oil and gas producer’s stock.
Several other research analysts have also commented on EQT. Stifel Nicolaus started coverage on shares of EQT Corporation in a research note on Thursday, March 23rd. They issued a buy rating and a $63.00 price objective for the company. TheStreet lowered shares of EQT Corporation from a c- rating to a d+ rating in a research note on Thursday, March 23rd. Scotiabank set a $80.00 price objective on shares of EQT Corporation and gave the company a hold rating in a research note on Monday, March 27th. Jefferies Group LLC reissued a hold rating and issued a $69.00 price objective on shares of EQT Corporation in a research note on Thursday, April 6th. Finally, ValuEngine lowered shares of EQT Corporation from a hold rating to a sell rating in a research note on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $80.27.
EQT Corporation (NYSE:EQT) traded up 1.58% during midday trading on Thursday, hitting $62.94. 4,642,549 shares of the stock traded hands. The firm’s market cap is $10.91 billion. EQT Corporation has a 12-month low of $49.63 and a 12-month high of $75.74. The company’s 50-day moving average is $57.75 and its 200 day moving average is $59.83.
EQT Corporation (NYSE:EQT) last posted its quarterly earnings data on Thursday, April 27th. The oil and gas producer reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.02. EQT Corporation had a negative net margin of 15.03% and a positive return on equity of 0.18%. The business had revenue of $897.50 million during the quarter, compared to analysts’ expectations of $713.65 million. During the same period in the previous year, the business posted $0.07 EPS. The company’s revenue for the quarter was up 64.6% compared to the same quarter last year. On average, analysts anticipate that EQT Corporation will post $1.20 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.12 dividend on an annualized basis and a yield of 0.19%. EQT Corporation’s payout ratio is currently -6.82%.
In related news, insider David E. Jr. Schlosser acquired 10,000 shares of the business’s stock in a transaction on Thursday, June 22nd. The shares were bought at an average price of $50.96 per share, with a total value of $509,600.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director A. Bray Jr. Cary acquired 28,000 shares of the business’s stock in a transaction on Friday, June 23rd. The shares were bought at an average cost of $53.55 per share, for a total transaction of $1,499,400.00. Following the acquisition, the director now owns 22,627 shares of the company’s stock, valued at approximately $1,211,675.85. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 41,901 shares of company stock worth $2,211,775. 1.00% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. Point72 Asia Hong Kong Ltd bought a new stake in EQT Corporation during the first quarter worth $110,000. Invictus RG bought a new stake in EQT Corporation during the first quarter worth $119,000. Pacer Advisors Inc. boosted its stake in EQT Corporation by 3.1% in the first quarter. Pacer Advisors Inc. now owns 3,255 shares of the oil and gas producer’s stock worth $199,000 after buying an additional 99 shares during the last quarter. Wetherby Asset Management Inc. bought a new stake in EQT Corporation during the first quarter worth $211,000. Finally, Fisher Asset Management LLC boosted its stake in EQT Corporation by 7.0% in the first quarter. Fisher Asset Management LLC now owns 3,474 shares of the oil and gas producer’s stock worth $212,000 after buying an additional 226 shares during the last quarter. 90.65% of the stock is currently owned by institutional investors.
EQT Corporation Company Profile
EQT Corporation is a natural gas company. The Company operates through three segments: EQT Production, EQT Gathering and EQT Transmission. The EQT Production segment includes its exploration for, and development and production of, natural gas, natural gas liquids and a limited amount of crude oil, primarily in the Appalachian Basin.
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