Q4 2017 EPS Estimates for EQT Corporation Cut by Analyst (EQT)
EQT Corporation (NYSE:EQT) – Analysts at Jefferies Group cut their Q4 2017 EPS estimates for shares of EQT Corporation in a research report issued on Tuesday. Jefferies Group analyst Z. Parham now expects that the oil and gas producer will post earnings of $0.55 per share for the quarter, down from their prior forecast of $0.62. Jefferies Group currently has a “Hold” rating and a $69.00 target price on the stock. Jefferies Group also issued estimates for EQT Corporation’s Q4 2018 earnings at $0.81 EPS.
EQT Corporation (NYSE:EQT) last released its quarterly earnings data on Thursday, July 27th. The oil and gas producer reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. EQT Corporation had a net margin of 0.20% and a return on equity of 0.91%. The business had revenue of $631.10 million for the quarter, compared to analyst estimates of $642.21 million. During the same period in the previous year, the firm earned ($0.35) EPS. The business’s revenue for the quarter was up 720.1% compared to the same quarter last year.
EQT has been the subject of a number of other research reports. BidaskClub upgraded EQT Corporation from a “strong sell” rating to a “sell” rating in a report on Friday, June 16th. Scotiabank set a $79.00 price objective on EQT Corporation and gave the company a “buy” rating in a report on Tuesday, August 22nd. Royal Bank Of Canada set a $79.00 price objective on EQT Corporation and gave the company a “hold” rating in a report on Friday, July 28th. Morgan Stanley dropped their price objective on EQT Corporation from $61.00 to $56.00 and set an “equal weight” rating for the company in a report on Wednesday, June 21st. Finally, Stifel Nicolaus upped their price objective on EQT Corporation from $79.00 to $85.00 and gave the company a “buy” rating in a report on Monday, July 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $79.75.
EQT Corporation (EQT) traded up 0.57% during midday trading on Thursday, hitting $62.13. 63,733 shares of the company traded hands. The stock has a market cap of $10.77 billion, a P/E ratio of 2218.93 and a beta of 0.77. EQT Corporation has a 12-month low of $49.63 and a 12-month high of $75.74. The stock has a 50 day moving average of $62.13 and a 200 day moving average of $59.72.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 11th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.19%. EQT Corporation’s payout ratio is presently 400.13%.
In other news, CEO Steven T. Schlotterbeck acquired 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The stock was acquired at an average cost 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 in the company, valued at $6,005,380.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David E. Jr. Schlosser acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The shares were purchased at an average price of $50.96 per share, with a total value of $509,600.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 41,901 shares of company stock valued at $2,211,775. 1.00% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Lord Abbett & CO. LLC increased its position in EQT Corporation by 2.1% in the second quarter. Lord Abbett & CO. LLC now owns 697,211 shares of the oil and gas producer’s stock worth $40,850,000 after buying an additional 14,019 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in EQT Corporation during the second quarter worth about $2,466,000. 361 Capital LLC increased its position in EQT Corporation by 29.2% in the second quarter. 361 Capital LLC now owns 99,822 shares of the oil and gas producer’s stock worth $5,849,000 after buying an additional 22,574 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new position in EQT Corporation during the second quarter worth about $4,142,000. Finally, Aureus Asset Management LLC purchased a new position in EQT Corporation during the second quarter worth about $205,000. Institutional investors and hedge funds own 90.55% of the company’s stock.
EQT Corporation Company Profile
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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