EQT Corp. (EQT) Coverage Initiated at Drexel Hamilton
Analysts at Drexel Hamilton started coverage on shares of EQT Corp. (NYSE:EQT) in a research report issued to clients and investors on Thursday. The brokerage set a “buy” rating on the stock.
A number of other research analysts also recently weighed in on EQT. Scotiabank reiterated a “sector outperform” rating and issued a $91.00 price objective (down previously from $92.00) on shares of EQT Corp. in a research report on Sunday, July 31st. Zacks Investment Research upgraded shares of EQT Corp. from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a research report on Monday, October 17th. Tudor Pickering downgraded shares of EQT Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, October 13th. Credit Suisse Group AG assumed coverage on shares of EQT Corp. in a research report on Monday, October 24th. They issued an “outperform” rating and a $86.00 price objective for the company. Finally, 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 research report on Thursday, August 11th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. EQT Corp. currently has a consensus rating of “Hold” and a consensus target price of C$77.84.
EQT Corp. (NYSE:EQT) traded down 0.12% during trading on Thursday, hitting $68.40. The stock had a trading volume of 64,339 shares. The company’s 50 day moving average is $67.67 and its 200 day moving average is $71.60. The firm’s market cap is $11.82 billion. EQT Corp. has a 52-week low of $47.10 and a 52-week high of $80.61.
EQT Corp. (NYSE:EQT) last issued its quarterly earnings data on Thursday, October 27th. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.15. The company earned $502.55 million during the quarter, compared to the consensus estimate of $456.55 million. EQT Corp. had a negative net margin of 21.61% and a negative return on equity of 1.14%. EQT Corp.’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.33) earnings per share. Equities research analysts forecast that EQT Corp. will post ($0.56) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 11th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.18%. EQT Corp.’s payout ratio is currently -4.92%.
Institutional investors have recently bought and sold shares of the company. Fisher Asset Management LLC boosted its position in EQT Corp. by 0.3% in the second quarter. Fisher Asset Management LLC now owns 3,258 shares of the company’s stock worth $251,000 after buying an additional 10 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in EQT Corp. by 0.4% in the third quarter. Municipal Employees Retirement System of Michigan now owns 5,460 shares of the company’s stock worth $397,000 after buying an additional 20 shares during the last quarter. First Manhattan Co. boosted its position in EQT Corp. by 0.6% in the second quarter. First Manhattan Co. now owns 6,490 shares of the company’s stock worth $502,000 after buying an additional 40 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in EQT Corp. by 0.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 17,239 shares of the company’s stock worth $1,226,000 after buying an additional 50 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its position in EQT Corp. by 0.4% in the third quarter. CIBC Asset Management Inc now owns 16,641 shares of the company’s stock worth $1,208,000 after buying an additional 68 shares during the last quarter. 88.30% of the stock is owned by hedge funds and other institutional investors.
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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