EQT Corp. (EQT) Now Covered by GMP Securities
Equities research analysts at GMP Securities assumed coverage on shares of EQT Corp. (NYSE:EQT) in a research report issued to clients and investors on Wednesday. The firm set a “buy” rating and a $92.00 price target on the stock.
EQT has been the topic of several other reports. Zacks Investment Research raised EQT Corp. from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a report on Tuesday, July 5th. Deutsche Bank AG downgraded EQT Corp. from a “buy” rating to a “hold” rating and cut their target price for the stock from $81.00 to $79.00 in a report on Monday, June 13th. Howard Weil cut their target price on EQT Corp. from $92.00 to $91.00 and set a “sector outperform” rating on the stock in a report on Friday, July 29th. Jefferies Group lifted their target price on EQT Corp. from $74.00 to $77.00 and gave the stock a “hold” rating in a report on Friday, July 29th. Finally, Barclays PLC lifted their target price on EQT Corp. from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, July 29th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of C$78.78.
EQT Corp. (NYSE:EQT) opened at 68.64 on Wednesday. EQT Corp. has a 52-week low of $47.10 and a 52-week high of $80.61. The firm’s market capitalization is $11.86 billion. The stock’s 50 day moving average price is $71.38 and its 200 day moving average price is $71.36.
EQT Corp. (NYSE:EQT) last released its quarterly earnings data on Thursday, July 28th. The company reported ($0.35) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.41) by $0.06. EQT Corp. had a negative return on equity of 1.27% and a negative net margin of 18.74%. The company had revenue of $127.53 million for the quarter, compared to the consensus estimate of $461.53 million. During the same quarter last year, the business posted ($0.06) EPS. EQT Corp.’s revenue for the quarter was down 71.0% on a year-over-year basis. On average, analysts predict that EQT Corp. will post ($0.63) EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Friday, August 12th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date was Wednesday, August 10th. EQT Corp.’s dividend payout ratio is currently -5.66%.
In other EQT Corp. news, SVP Randall L. Crawford sold 4,981 shares of the business’s stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of C$77.21, for a total transaction of C$384,583.01. Following the completion of the sale, the senior vice president now directly owns 90,723 shares of the company’s stock, valued at approximately C$7,004,722.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.
Several institutional investors have recently made changes to their positions in EQT. Boston Partners increased its position in shares of EQT Corp. by 89.9% in the second quarter. Boston Partners now owns 6,902,638 shares of the company’s stock worth $534,471,000 after buying an additional 3,268,060 shares during the last quarter. Davis Selected Advisers acquired a new position in shares of EQT Corp. during the second quarter worth $189,106,000. Vanguard Group Inc. increased its position in shares of EQT Corp. by 10.4% in the second quarter. Vanguard Group Inc. now owns 15,983,499 shares of the company’s stock worth $1,237,603,000 after buying an additional 1,508,708 shares during the last quarter. Cohen & Steers Inc. acquired a new position in shares of EQT Corp. during the second quarter worth $14,814,000. Finally, Norges Bank acquired a new position in shares of EQT Corp. during the fourth quarter worth $60,141,000. Hedge funds and other institutional investors own 87.73% of the company’s stock.
About EQT Corp.
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.
Receive News & Stock Ratings for EQT Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQT Corp. and related stocks with our FREE daily email newsletter.