EQT Corp. (EQT) Receives New Coverage from Analysts at Drexel Hamilton
Other analysts have also issued reports about the company. Jefferies Group boosted their price objective on EQT Corp. from $74.00 to $77.00 and gave the company a hold rating in a research note on Friday, July 29th. Citigroup Inc. boosted their target price on EQT Corp. from $72.00 to $75.00 and gave the stock a neutral rating in a research report on Friday, July 29th. Barclays PLC boosted their target price on EQT Corp. from $82.00 to $85.00 and gave the stock an overweight rating in a research report on Friday, July 29th. Howard Weil reduced their target price on EQT Corp. from $92.00 to $91.00 and set a sector outperform rating for the company in a research report on Friday, July 29th. Finally, Wolfe Research initiated coverage on EQT Corp. in a research report on Friday, October 7th. They set a buy rating and a $85.00 target price for the company. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of C$77.84.
EQT Corp. (NYSE:EQT) traded down 0.12% during mid-day trading on Thursday, reaching $68.40. The company had a trading volume of 64,339 shares. The stock has a 50 day moving average price of $67.67 and a 200-day moving average price of $71.60. The stock’s market capitalization is $11.82 billion. EQT Corp. has a 12-month low of $47.10 and a 12-month high of $80.61.
EQT Corp. (NYSE:EQT) last issued its earnings results on Thursday, October 27th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.41) by $0.15. The firm had revenue of $502.55 million for the quarter, compared to analyst estimates of $456.55 million. EQT Corp. had a negative return on equity of 1.14% and a negative net margin of 21.61%. The business’s revenue was down 4.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.33) earnings per share. Equities analysts anticipate that EQT Corp. will post ($0.56) EPS for the current fiscal year.
The firm also recently declared 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 0.18%. The ex-dividend date is Tuesday, November 8th. EQT Corp.’s payout ratio is -4.92%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EQT. Canada Pension Plan Investment Board raised its position in shares of EQT Corp. by 3.4% in the first quarter. Canada Pension Plan Investment Board now owns 3,014 shares of the company’s stock valued at $203,000 after buying an additional 100 shares in the last quarter. AMP Capital Investors Ltd raised its position in shares of EQT Corp. by 6.3% in the first quarter. AMP Capital Investors Ltd now owns 129,318 shares of the company’s stock valued at $8,577,000 after buying an additional 7,652 shares in the last quarter. National Pension Service raised its position in shares of EQT Corp. by 4.4% in the first quarter. National Pension Service now owns 106,965 shares of the company’s stock valued at $7,194,000 after buying an additional 4,545 shares in the last quarter. Legal & General Group Plc raised its position in shares of 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. Finally, Envestnet Asset Management Inc. raised its position in shares of EQT Corp. by 11.2% in the first quarter. Envestnet Asset Management Inc. now owns 24,581 shares of the company’s stock valued at $1,653,000 after buying an additional 2,469 shares in the last quarter. 88.30% of the stock is owned by institutional investors and hedge funds.
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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