EQT Corporation Forecasted to Post Q4 2017 Earnings of $0.62 Per Share (EQT)
EQT Corporation (NYSE:EQT) – Jefferies Group upped their Q4 2017 EPS estimates for shares of EQT Corporation in a research note issued to investors on Monday. Jefferies Group analyst Z. Parham now expects that the oil and gas producer will post earnings per share of $0.62 for the quarter, up from their previous estimate of $0.60. Jefferies Group currently has a “Hold” rating and a $69.00 price target on the stock. Jefferies Group also issued estimates for EQT Corporation’s Q1 2018 earnings at $0.77 EPS, Q2 2018 earnings at $0.44 EPS, Q3 2018 earnings at $0.51 EPS and FY2018 earnings at $2.56 EPS.
Other equities research analysts also recently issued research reports about the company. Royal Bank Of Canada set a $86.00 target price on EQT Corporation and gave the stock a “buy” rating in a research report on Tuesday, April 25th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $81.00 target price (up previously from $63.00) on shares of EQT Corporation in a research report on Tuesday, May 2nd. KLR Group reaffirmed a “buy” rating and issued a $102.00 target price (up previously from $92.00) on shares of EQT Corporation in a research report on Monday, June 26th. Cowen and Company set a $80.00 target price on EQT Corporation and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Finally, BMO Capital Markets set a $70.00 target price on EQT Corporation and gave the stock a “buy” rating in a research report on Friday, July 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $79.58.
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Shares of EQT Corporation (NYSE EQT) traded down 0.20% during midday trading on Thursday, hitting $60.64. The stock had a trading volume of 549,079 shares. The stock has a 50 day moving average of $61.87 and a 200-day moving average of $59.79. EQT Corporation has a one year low of $49.63 and a one year high of $75.74. The company has a market cap of $10.51 billion, a P/E ratio of 2165.71 and a beta of 0.77.
EQT Corporation (NYSE:EQT) last posted its quarterly earnings results on Thursday, July 27th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The company 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%. EQT Corporation’s revenue for the quarter was up 720.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.35) EPS.
Hedge funds have recently made changes to their positions in the stock. Macquarie Group Ltd. boosted its stake in shares of EQT Corporation by 4.3% in the fourth quarter. Macquarie Group Ltd. now owns 100,030 shares of the oil and gas producer’s stock valued at $6,542,000 after buying an additional 4,100 shares during the last quarter. Gulf International Bank UK Ltd boosted its stake in shares of EQT Corporation by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 54,060 shares of the oil and gas producer’s stock valued at $3,303,000 after buying an additional 800 shares during the last quarter. National Pension Service boosted its stake in shares of EQT Corporation by 22.2% in the first quarter. National Pension Service now owns 176,579 shares of the oil and gas producer’s stock valued at $10,715,000 after buying an additional 32,069 shares during the last quarter. DnB Asset Management AS boosted its stake in shares of EQT Corporation by 20.6% in the first quarter. DnB Asset Management AS now owns 18,755 shares of the oil and gas producer’s stock valued at $1,146,000 after buying an additional 3,200 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC boosted its stake in shares of EQT Corporation by 109.2% in the first quarter. Quantitative Systematic Strategies LLC now owns 32,681 shares of the oil and gas producer’s stock valued at $1,997,000 after buying an additional 17,056 shares during the last quarter. Hedge funds and other institutional investors own 90.07% of the company’s stock.
In other news, insider Robert Joseph Mcnally acquired 1,500 shares of the business’s stock in a transaction on Wednesday, June 21st. The shares were purchased at an average price of $50.00 per share, for a total transaction of $75,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven T. Schlotterbeck acquired 2,000 shares of the business’s stock in a transaction on Thursday, June 22nd. The shares were purchased at an average price of $52.14 per share, for a total transaction of $104,280.00. Following the purchase, the chief executive officer now directly owns 115,178 shares of the company’s stock, valued at $6,005,380.92. The disclosure for this purchase can be found here. Insiders have acquired 41,901 shares of company stock worth $2,211,775 in the last 90 days. 1.00% of the stock is currently owned by insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.20%. The ex-dividend date is Wednesday, August 9th. EQT Corporation’s payout ratio is currently 400.13%.
About EQT Corporation
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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