Investors Buy EQT Corporation (EQT) on Weakness
Traders bought shares of EQT Corporation (NYSE:EQT) on weakness during trading hours on Monday. $40.67 million flowed into the stock on the tick-up and $15.15 million flowed out of the stock on the tick-down, for a money net flow of $25.52 million into the stock. Of all companies tracked, EQT Corporation had the 26th highest net in-flow for the day. EQT Corporation traded down ($0.07) for the day and closed at $60.18
Several research firms have commented on EQT. Royal Bank Of Canada lowered EQT Corporation from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $86.00 to $80.00 in a research note on Wednesday, July 5th. Stifel Nicolaus reiterated a “buy” rating and set a $81.00 price objective (up from $63.00) on shares of EQT Corporation in a research note on Tuesday, May 2nd. TheStreet upgraded EQT Corporation from a “d+” rating to a “c-” rating in a research note on Monday, August 14th. Morgan Stanley boosted their price objective on EQT Corporation from $56.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, BidaskClub upgraded EQT Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, June 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $79.92.
The firm has a 50-day moving average of $61.97 and a 200 day moving average of $59.78. The company has a market cap of $10.43 billion, a price-to-earnings ratio of 2149.29 and a beta of 0.77.
EQT Corporation (NYSE:EQT) last released its earnings results on Thursday, July 27th. The oil and gas producer reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.01. The firm had revenue of $631.10 million during the quarter, compared to analysts’ expectations of $642.21 million. EQT Corporation had a net margin of 0.20% and a return on equity of 0.91%. EQT Corporation’s revenue for the quarter was up 720.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.35) EPS. On average, equities analysts predict that EQT Corporation will post $1.02 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be paid a $0.03 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $0.12 annualized dividend and a yield of 0.20%. EQT Corporation’s payout ratio is currently 400.13%.
In related news, Director A. Bray Jr. Cary purchased 28,000 shares of the firm’s stock in a transaction on Friday, June 23rd. The shares were bought at an average price of $53.55 per share, for a total transaction of $1,499,400.00. Following the acquisition, the director now directly owns 22,627 shares in the company, valued at $1,211,675.85. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Joseph Mcnally purchased 1,500 shares of the firm’s stock in a transaction on Wednesday, June 21st. The stock was bought at an average price of $50.00 per share, for a total transaction of $75,000.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 41,901 shares of company stock worth $2,211,775. 1.00% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in the stock. Nikko Asset Management Americas Inc. raised its position in shares of EQT Corporation by 7.5% in the first quarter. Nikko Asset Management Americas Inc. now owns 233,064 shares of the oil and gas producer’s stock worth $14,240,000 after buying an additional 16,200 shares during the period. Strs Ohio raised its position in shares of EQT Corporation by 15.9% in the first quarter. Strs Ohio now owns 30,265 shares of the oil and gas producer’s stock worth $1,849,000 after buying an additional 4,159 shares during the period. Shell Asset Management Co. raised its position in shares of 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 period. Janney Montgomery Scott LLC raised its position in shares of EQT Corporation by 10.5% in the first quarter. Janney Montgomery Scott LLC now owns 11,149 shares of the oil and gas producer’s stock worth $681,000 after buying an additional 1,061 shares during the period. Finally, Mycio Wealth Partners LLC raised its position in shares of EQT Corporation by 7.6% in the first quarter. Mycio Wealth Partners LLC now owns 15,474 shares of the oil and gas producer’s stock worth $945,000 after buying an additional 1,099 shares during the period. Institutional investors own 90.07% of the company’s stock.
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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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