EQT Corp. to Post Q4 2017 Earnings of $0.33 Per Share, Jefferies Group Forecasts (EQT)
EQT Corp. (NYSE:EQT) – Investment analysts at Jefferies Group lowered their Q4 2017 earnings estimates for EQT Corp. in a research note issued on Thursday. Jefferies Group analyst J. Wolff now forecasts that the brokerage will post earnings per share of $0.33 for the quarter, down from their prior estimate of $0.40. Jefferies Group has a “Hold” rating and a $75.00 price objective on the stock.
Several other equities analysts have also weighed in on EQT. Scotiabank restated a “sector outperform” rating and issued a $91.00 price target (down previously from $92.00) on shares of EQT Corp. in a research note on Sunday, July 31st. Zacks Investment Research upgraded EQT Corp. from a “hold” rating to a “buy” rating and set a $76.00 price target for the company in a research note on Monday, October 17th. Tudor Pickering lowered EQT Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, October 13th. Credit Suisse Group AG began coverage on EQT Corp. in a research note on Monday, October 24th. They issued an “outperform” rating and a $86.00 price target for the company. Finally, Howard Weil lowered EQT Corp. from a “sector outperform” rating to a “sector perform” rating and cut their price target for the company from $91.00 to $90.00 in a research note on Thursday, August 11th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of C$78.11.
Shares of EQT Corp. (NYSE:EQT) traded up 0.28% during midday trading on Friday, reaching $67.09. The company’s stock had a trading volume of 714,053 shares. The firm’s market cap is $11.59 billion. EQT Corp. has a one year low of $47.10 and a one year high of $80.61. The stock’s 50 day moving average price is $67.57 and its 200 day moving average price is $71.57.
EQT Corp. (NYSE:EQT) last issued its quarterly earnings data on Thursday, October 27th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.15. EQT Corp. had a negative return on equity of 1.14% and a negative net margin of 21.61%. The business had revenue of $502.55 million for the quarter, compared to the consensus estimate of $456.55 million. During the same period in the prior year, the business posted ($0.33) earnings per share. The company’s quarterly revenue was down 4.7% compared to the same quarter last year.
Hedge funds have recently made changes to their positions in the stock. State Treasurer State of Michigan raised its stake in shares of EQT Corp. by 9.1% in the second quarter. State Treasurer State of Michigan now owns 59,970 shares of the company’s stock worth $4,643,000 after buying an additional 5,000 shares during the last quarter. Brown Advisory Inc. raised its stake in EQT Corp. by 23.7% in the second quarter. Brown Advisory Inc. now owns 18,884 shares of the company’s stock worth $1,462,000 after buying an additional 3,623 shares in the last quarter. Artemis Investment Management LLP bought a new stake in EQT Corp. during the second quarter worth $16,265,000. Blair William & Co. IL raised its stake in EQT Corp. by 46.0% in the second quarter. Blair William & Co. IL now owns 10,539 shares of the company’s stock worth $816,000 after buying an additional 3,319 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in EQT Corp. by 3.4% in the first quarter. Canada Pension Plan Investment Board now owns 3,014 shares of the company’s stock worth $203,000 after buying an additional 100 shares in the last quarter. 88.30% of the stock is currently owned by institutional investors.
The company 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 $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date of this dividend is Tuesday, November 8th. EQT Corp.’s payout ratio is -4.92%.
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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