EQT Corp. (EQT) Coverage Initiated by Analysts at Wolfe Research
Analysts at Wolfe Research started coverage on shares of EQT Corp. (NYSE:EQT) in a research note issued on Friday. The firm set a “buy” rating and a $85.00 price target on the stock.
A number of other research firms also recently commented on EQT. Stifel Nicolaus upgraded EQT Corp. from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a report on Friday, August 26th. GMP Securities assumed coverage on shares of EQT Corp. in a research report on Wednesday, September 28th. They set a “buy” rating and a $92.00 price target for the company. Jefferies Group upped their price target on shares of EQT Corp. from $74.00 to $77.00 and gave the stock a “hold” rating in a research report on Friday, July 29th. Zacks Investment Research raised shares of EQT Corp. from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a research report on Tuesday, July 5th. Finally, Deutsche Bank AG cut shares of EQT Corp. from a “buy” rating to a “hold” rating and decreased their price target for the stock from $81.00 to $79.00 in a research report on Monday, June 13th. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of C$79.11.
EQT Corp. (NYSE:EQT) traded down 0.21% during mid-day trading on Friday, reaching $72.71. The company’s stock had a trading volume of 914,372 shares. The stock’s 50 day moving average price is $72.06 and its 200 day moving average price is $71.67. EQT Corp. has a 1-year low of $47.10 and a 1-year high of $80.61. The stock’s market capitalization is $12.56 billion.
EQT Corp. (NYSE:EQT) last released its quarterly earnings data on Thursday, July 28th. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.06. The business earned $127.53 million during the quarter, compared to the consensus estimate of $461.53 million. EQT Corp. had a negative return on equity of 1.27% and a negative net margin of 18.74%. The business’s revenue for the quarter was down 71.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.06) EPS. Analysts expect that EQT Corp. will post ($0.64) EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in EQT. Oakbrook Investments LLC raised its stake in EQT Corp. by 25.2% in the second quarter. Oakbrook Investments LLC now owns 11,415 shares of the company’s stock valued at $884,000 after buying an additional 2,300 shares during the period. Artemis Investment Management LLP acquired a new stake in EQT Corp. during the second quarter valued at $16,265,000. Legal & General Group Plc raised its stake in EQT Corp. by 7.4% in the first quarter. Legal & General Group Plc now owns 653,976 shares of the company’s stock valued at $43,984,000 after buying an additional 45,037 shares during the period. Cleararc Capital Inc. acquired a new stake in EQT Corp. during the first quarter valued at $263,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake in EQT Corp. by 75.8% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 19,250 shares of the company’s stock valued at $1,491,000 after buying an additional 8,300 shares during the period. 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.
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