Tudor Pickering Lowers EQT Corp. (EQT) to Hold
EQT Corp. (NYSE:EQT) was downgraded by Tudor Pickering from a “buy” rating to a “hold” rating in a research report issued on Thursday.
Several other analysts also recently commented on EQT. Zacks Investment Research raised shares of EQT Corp. from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a research report on Tuesday, July 5th. Howard Weil reduced their price objective on shares of EQT Corp. from $92.00 to $91.00 and set a “sector outperform” rating for the company in a research note on Friday, July 29th. Barclays PLC boosted their price objective on shares of EQT Corp. from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, July 29th. Citigroup Inc. boosted their price objective on shares of EQT Corp. from $72.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, July 29th. Finally, Jefferies Group boosted their price objective on shares of EQT Corp. from $74.00 to $77.00 and gave the stock a “hold” rating in a research note on Friday, July 29th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of C$78.22.
Shares of EQT Corp. (NYSE:EQT) traded down 2.17% on Thursday, reaching $68.82. 77,422 shares of the company’s stock were exchanged. EQT Corp. has a 1-year low of $47.10 and a 1-year high of $80.61. The stock’s 50-day moving average price is $72.07 and its 200-day moving average price is $71.90. The company’s market capitalization is $11.89 billion.
EQT Corp. (NYSE:EQT) last posted its earnings results on Thursday, July 28th. The company reported ($0.35) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.41) by $0.06. The company earned $127.53 million during the quarter, compared to the consensus estimate of $461.53 million. EQT Corp. had a negative net margin of 18.74% and a negative return on equity of 1.27%. The company’s revenue for the quarter was down 71.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.06) earnings per share. Analysts anticipate that EQT Corp. will post ($0.64) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 11th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.17%. EQT Corp.’s payout ratio is presently -5.66%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capstone Asset Management Co. increased its position in EQT Corp. by 9.0% in the third quarter. Capstone Asset Management Co. now owns 14,464 shares of the company’s stock worth $1,050,000 after buying an additional 1,200 shares during the last quarter. Creative Planning increased its stake in shares of EQT Corp. by 2.2% in the third quarter. Creative Planning now owns 4,930 shares of the company’s stock worth $358,000 after buying an additional 107 shares in the last quarter. Raymond James Trust N.A. increased its stake in shares of EQT Corp. by 0.8% in the third quarter. Raymond James Trust N.A. now owns 9,494 shares of the company’s stock worth $689,000 after buying an additional 72 shares in the last quarter. Independent Portfolio Consultants Inc. purchased a new stake in shares of EQT Corp. during the third quarter worth $182,000. Finally, Fulton Bank N.A. purchased a new stake in shares of EQT Corp. during the third quarter worth $205,000. Institutional investors own 87.73% of the company’s stock.
EQT Corp. Company Profile
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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