Research Analysts Set Expectations for EQT Corp.’s Q3 2016 Earnings (EQT)
EQT Corp. (NYSE:EQT) – Investment analysts at Seaport Global Securities raised their Q3 2016 earnings per share estimates for shares of EQT Corp. in a research report issued to clients and investors on Thursday. Seaport Global Securities analyst M. Kelly now forecasts that the firm will post earnings per share of ($0.40) for the quarter, up from their prior forecast of ($0.42). Seaport Global Securities also issued estimates for EQT Corp.’s FY2016 earnings at ($0.54) EPS.
A number of other analysts also recently issued reports on the stock. Scotiabank restated a “sector outperform” rating and set a $91.00 price objective (down previously from $92.00) on shares of EQT Corp. in a report on Sunday, July 31st. Howard Weil downgraded shares of EQT Corp. from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $91.00 to $90.00 in a report on Thursday, August 11th. Stifel Nicolaus upgraded shares of EQT Corp. from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a research note on Friday, August 26th. GMP Securities initiated coverage on shares of EQT Corp. in a research note on Wednesday, September 28th. They issued a “buy” rating and a $92.00 target price for the company. Finally, Tudor Pickering downgraded shares of EQT Corp. from a “buy” rating to a “hold” rating in a research note on Thursday. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of C$78.22.
EQT Corp. (NYSE:EQT) opened at 67.46 on Monday. The firm’s market capitalization is $11.65 billion. EQT Corp. has a 52-week low of $47.10 and a 52-week high of $80.61. The company’s 50-day moving average is $71.91 and its 200-day moving average is $71.90.
EQT Corp. (NYSE:EQT) last released its quarterly earnings data on Thursday, July 28th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.41) by $0.06. The business earned $127.53 million during the quarter, compared to analysts’ expectations of $461.53 million. EQT Corp. had a negative net margin of 18.74% and a negative return on equity of 1.27%. The firm’s quarterly revenue was down 71.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.06) EPS.
Several 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 last quarter. Artemis Investment Management LLP purchased a new stake in EQT Corp. during the second quarter valued at about $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 in the last quarter. Cleararc Capital Inc. purchased a new stake in EQT Corp. during the first quarter valued at about $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 in the last quarter. 87.73% of the stock is owned by hedge funds and other institutional investors.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Friday, November 11th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.18%. The ex-dividend date is Tuesday, November 8th. EQT Corp.’s payout ratio is currently -5.66%.
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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