Investors Buy EQT Corporation (EQT) on Weakness
Investors purchased shares of EQT Corporation (NYSE:EQT) on weakness during trading hours on Monday. $55.01 million flowed into the stock on the tick-up and $17.34 million flowed out of the stock on the tick-down, for a money net flow of $37.67 million into the stock. Of all stocks tracked, EQT Corporation had the 11th highest net in-flow for the day. EQT Corporation traded down ($0.80) for the day and closed at $61.66
Several brokerages recently weighed in on EQT. Scotiabank set a $82.00 price target on shares of EQT Corporation and gave the stock a “hold” rating in a report on Saturday, April 22nd. Scotia Howard Weill upgraded shares of EQT Corporation from a “sector perform” rating to a “sector outperform” rating in a report on Friday, July 14th. Royal Bank Of Canada reiterated a “hold” rating and issued a $78.00 price target on shares of EQT Corporation in a report on Thursday, July 20th. BMO Capital Markets set a $70.00 price target on shares of EQT Corporation and gave the stock a “buy” rating in a report on Friday, July 28th. Finally, ValuEngine downgraded shares of EQT Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $80.38.
The stock has a market cap of $10.69 billion, a price-to-earnings ratio of 2202.14 and a beta of 0.77. The company has a 50 day moving average price of $59.87 and a 200 day moving average price of $59.83.
EQT Corporation (NYSE:EQT) last released its earnings results on Thursday, July 27th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.01. The business had revenue of $631.10 million for the quarter, compared to analyst estimates of $642.21 million. EQT Corporation had a return on equity of 0.91% and a net margin of 0.20%. The company’s revenue for the quarter was up 720.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.35) earnings per share. Equities analysts forecast that EQT Corporation will post $0.96 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 11th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date of this dividend is Wednesday, August 9th. EQT Corporation’s payout ratio is currently 400.13%.
In related news, CEO Steven T. Schlotterbeck bought 2,000 shares of the company’s stock in a transaction dated Thursday, June 22nd. The shares were acquired at an average price of $52.14 per share, with a total value of $104,280.00. Following the completion of the acquisition, the chief executive officer now owns 115,178 shares in the company, valued at approximately $6,005,380.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director A. Bray Jr. Cary bought 28,000 shares of the company’s stock in a transaction dated Friday, June 23rd. The stock was 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 bought 41,901 shares of company stock worth $2,211,775. Corporate insiders own 1.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in EQT. Cleararc Capital Inc. raised its position in EQT Corporation by 0.9% in the first quarter. Cleararc Capital Inc. now owns 4,248 shares of the oil and gas producer’s stock worth $260,000 after buying an additional 37 shares during the last quarter. Shell Asset Management Co. raised its position in EQT Corporation by 0.3% in the first quarter. Shell Asset Management Co. now owns 16,575 shares of the oil and gas producer’s stock worth $1,013,000 after buying an additional 52 shares during the last quarter. Advantus Capital Management Inc raised its position in EQT Corporation by 0.3% in the first quarter. Advantus Capital Management Inc now owns 17,317 shares of the oil and gas producer’s stock worth $1,058,000 after buying an additional 53 shares during the last quarter. Mutual of America Capital Management LLC raised its position in EQT Corporation by 0.3% in the first quarter. Mutual of America Capital Management LLC now owns 21,438 shares of the oil and gas producer’s stock worth $1,310,000 after buying an additional 58 shares during the last quarter. Finally, Cadence Capital Management LLC raised its position in EQT Corporation by 1.1% in the first quarter. Cadence Capital Management LLC now owns 6,037 shares of the oil and gas producer’s stock worth $369,000 after buying an additional 64 shares during the last quarter. 90.45% of the stock is currently owned by institutional investors and hedge funds.
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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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