FY2016 EPS Estimates for EQT Corp. Boosted by Analyst (EQT)
EQT Corp. (NYSE:EQT) – Equities research analysts at Jefferies Group boosted their FY2016 earnings estimates for EQT Corp. in a note issued to investors on Thursday. Jefferies Group analyst J. Wolff now anticipates that the brokerage will post earnings of ($0.60) per share for the year, up from their prior forecast of ($0.78). Jefferies Group has a “Hold” rating and a $75.00 price target on the stock. Jefferies Group also issued estimates for EQT Corp.’s Q4 2016 earnings at ($0.05) EPS, Q1 2017 earnings at $0.57 EPS, Q2 2017 earnings at ($0.05) EPS and FY2017 earnings at $0.78 EPS.
EQT Corp. (NYSE:EQT) last issued its earnings results on Thursday, October 27th. The company reported ($0.26) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.41) by $0.15. The firm had revenue of $502.55 million for the quarter, compared to the consensus estimate of $456.55 million. EQT Corp. had a negative return on equity of 1.14% and a negative net margin of 21.61%. The company’s revenue was down 4.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.33) EPS.
A number of other brokerages also recently weighed in on EQT. 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 note 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 note on Friday, July 29th. Howard Weil cut their target price on EQT Corp. from $92.00 to $91.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 29th. 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 note on Sunday, July 31st. Finally, Wolfe Research initiated coverage on EQT Corp. in a research note on Friday, October 7th. They issued a “buy” rating and a $85.00 price objective on the stock. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of C$78.11.
Shares of EQT Corp. (NYSE:EQT) opened at 67.14 on Monday. The firm has a 50 day moving average price of $67.95 and a 200-day moving average price of $71.64. The firm’s market cap is $11.60 billion. EQT Corp. has a one year low of $47.10 and a one year high of $80.61.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Treasurer State of Michigan boosted its position in 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 in the last quarter. Brown Advisory Inc. boosted its position 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 purchased a new position in EQT Corp. during the second quarter worth approximately $16,265,000. Blair William & Co. IL boosted its position 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, Principal Financial Group Inc. boosted its position in EQT Corp. by 8.7% in the second quarter. Principal Financial Group Inc. now owns 261,059 shares of the company’s stock worth $20,214,000 after buying an additional 20,910 shares in the last quarter. 88.30% of the stock is currently owned by institutional investors and hedge funds.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 11th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $0.12 dividend on an annualized basis and a yield of 0.18%. EQT Corp.’s dividend payout ratio is presently -4.92%.
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.
Receive News & Stock Ratings for EQT Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQT Corp. and related stocks with our FREE daily email newsletter.