Investors Buy EQT Corporation (EQT) on Weakness
Traders bought shares of EQT Corporation (NYSE:EQT) on weakness during trading on Monday. $53.86 million flowed into the stock on the tick-up and $15.98 million flowed out of the stock on the tick-down, for a money net flow of $37.88 million into the stock. Of all equities tracked, EQT Corporation had the 15th highest net in-flow for the day. EQT Corporation traded down ($1.11) for the day and closed at $61.82
Several equities analysts recently commented on the company. TheStreet upgraded EQT Corporation from a “d+” rating to a “c-” rating in a research note on Monday. KLR Group reiterated a “buy” rating and issued a $102.00 target price (up from $101.00) on shares of EQT Corporation in a research note on Sunday, July 30th. Royal Bank Of Canada set a $79.00 target price on EQT Corporation and gave the company a “hold” rating in a research note on Friday, July 28th. BMO Capital Markets set a $70.00 target price on EQT Corporation and gave the company a “buy” rating in a research note on Friday, July 28th. Finally, Cowen and Company set a $80.00 price target on EQT Corporation and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $79.58.
The stock’s 50 day moving average price is $61.80 and its 200-day moving average price is $59.78. The company has a market capitalization of $10.58 billion, a price-to-earnings ratio of 2180.36 and a beta of 0.77.
EQT Corporation (NYSE:EQT) last posted its earnings results on Thursday, July 27th. The oil and gas producer reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.01. EQT Corporation had a return on equity of 0.91% and a net margin of 0.20%. The company had revenue of $631.10 million for the quarter, compared to analyst estimates of $642.21 million. During the same period last year, the company earned ($0.35) earnings per share. The business’s revenue was up 720.1% compared to the same quarter last year. Equities research analysts expect that EQT Corporation will post $1.02 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be issued a dividend of $0.03 per share. The ex-dividend date is Wednesday, August 9th. This represents a $0.12 annualized dividend and a yield of 0.20%. EQT Corporation’s dividend payout ratio (DPR) is currently 400.13%.
In related news, Director A. Bray Jr. Cary bought 28,000 shares of the business’s stock in a transaction on Friday, June 23rd. The shares were bought at an average cost of $53.55 per share, for a total transaction of $1,499,400.00. Following the completion of the acquisition, the director now directly owns 22,627 shares in the company, valued at $1,211,675.85. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Steven T. Schlotterbeck bought 2,000 shares of the business’s stock in a transaction on Thursday, June 22nd. The shares were bought at an average price of $52.14 per share, for a total transaction of $104,280.00. Following the completion of the acquisition, the chief executive officer now owns 115,178 shares of the company’s stock, valued at $6,005,380.92. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 41,901 shares of company stock worth $2,211,775. Corporate insiders own 1.00% of the company’s stock.
A number of institutional investors have recently bought and sold shares of EQT. BlackRock Inc. raised its position in EQT Corporation by 3,346.4% in the first quarter. BlackRock Inc. now owns 13,626,409 shares of the oil and gas producer’s stock valued at $832,575,000 after buying an additional 13,231,032 shares during the period. OZ Management LP bought a new position in EQT Corporation during the first quarter valued at $281,711,000. State Street Corp raised its position in EQT Corporation by 13.6% in the first quarter. State Street Corp now owns 10,635,812 shares of the oil and gas producer’s stock valued at $649,846,000 after buying an additional 1,270,294 shares during the period. Point72 Asset Management L.P. bought a new position in EQT Corporation during the first quarter valued at $70,942,000. Finally, American Century Companies Inc. raised its position in EQT Corporation by 9.1% in the first quarter. American Century Companies Inc. now owns 9,035,038 shares of the oil and gas producer’s stock valued at $552,041,000 after buying an additional 756,782 shares during the period. Institutional investors own 90.07% of the company’s stock.
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About EQT Corporation
EQT Corporation is a natural gas company. The Company operates through three segments: EQT Production, EQT Gathering and EQT Transmission. The EQT Production segment includes its exploration for, and development and production of, natural gas, natural gas liquids and a limited amount of crude oil, primarily in the Appalachian Basin.
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