EQT Corp. (EQT) Receives Average Recommendation of “Buy” from Brokerages
Shares of EQT Corp. (NYSE:EQT) have earned a consensus recommendation of “Buy” from the twenty-one brokerages that are covering the firm. Ten investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $78.44.
A number of analysts have weighed in on EQT shares. 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 note on Monday, October 17th. Tudor Pickering lowered shares of EQT Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, October 13th. Credit Suisse Group AG started coverage on shares of EQT Corp. in a research note on Monday, October 24th. They set an “outperform” rating and a $86.00 price objective for the company. Howard Weil lowered shares of EQT Corp. from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $91.00 to $90.00 in a research note on Thursday, August 11th. Finally, GMP Securities started coverage on shares of EQT Corp. in a research note on Wednesday, September 28th. They set a “buy” rating and a $92.00 price objective for the company.
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Several large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in EQT Corp. by 5.8% in the third quarter. JPMorgan Chase & Co. now owns 17,117,821 shares of the company’s stock valued at $1,243,095,000 after buying an additional 933,499 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in EQT Corp. by 8.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 17,065,832 shares of the company’s stock valued at $1,239,321,000 after buying an additional 1,344,202 shares during the last quarter. Vanguard Group Inc. boosted its stake in EQT Corp. by 10.4% in the second quarter. Vanguard Group Inc. now owns 15,983,499 shares of the company’s stock valued at $1,237,603,000 after buying an additional 1,508,708 shares during the last quarter. State Street Corp boosted its stake in EQT Corp. by 3.5% in the second quarter. State Street Corp now owns 8,603,079 shares of the company’s stock valued at $666,134,000 after buying an additional 289,069 shares during the last quarter. Finally, Boston Partners boosted its stake in EQT Corp. by 7.3% in the third quarter. Boston Partners now owns 7,408,773 shares of the company’s stock valued at $538,025,000 after buying an additional 506,135 shares during the last quarter. Hedge funds and other institutional investors own 89.09% of the company’s stock.
Shares of EQT Corp. (NYSE:EQT) traded down 1.27% during trading on Wednesday, reaching $70.07. 1,846,585 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $66.99 and a 200 day moving average price of $71.62. EQT Corp. has a 12-month low of $47.10 and a 12-month high of $80.61. The company’s market capitalization is $12.11 billion.
EQT Corp. (NYSE:EQT) last issued its quarterly earnings results on Thursday, October 27th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.41) by $0.15. The company earned $502.55 million during the quarter, compared to analyst estimates 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 quarterly revenue was down 4.7% compared to the same quarter last year. During the same period last year, the business earned ($0.33) EPS. Equities analysts expect that EQT Corp. will post ($0.58) EPS for the current fiscal year.
The business also recently disclosed 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 0.17%. The ex-dividend date is Tuesday, November 8th. EQT Corp.’s payout ratio is currently -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.
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