SunTrust Banks Comments on EQT Corporation’s FY2017 Earnings (EQT)
EQT Corporation (NYSE:EQT) – Investment analysts at SunTrust Banks reduced their FY2017 earnings per share (EPS) estimates for shares of EQT in a report released on Wednesday. SunTrust Banks analyst W. Fitzpatrick now forecasts that the oil and gas producer will earn $1.13 per share for the year, down from their previous forecast of $1.14. SunTrust Banks has a “Hold” rating and a $65.00 price objective on the stock. SunTrust Banks also issued estimates for EQT’s Q4 2017 earnings at $0.52 EPS, Q1 2018 earnings at $1.09 EPS, Q2 2018 earnings at $0.78 EPS and Q3 2018 earnings at $0.95 EPS.
Several other equities research analysts also recently weighed in on EQT. Credit Suisse Group assumed coverage on EQT in a report on Monday. They issued an “outperform” rating and a $70.00 price target for the company. Seaport Global Securities raised EQT from a “neutral” rating to a “buy” rating and raised their price target for the stock from $57.00 to $79.00 in a report on Tuesday, September 26th. BidaskClub downgraded EQT from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. Cowen reissued a “buy” rating and issued a $80.00 price target on shares of EQT in a report on Tuesday, September 12th. Finally, Scotiabank set a $79.00 price target on EQT and gave the stock a “buy” rating in a report on Tuesday, August 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $77.25.
EQT (NYSE:EQT) last issued its quarterly earnings data on Thursday, October 26th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.17. EQT had a return on equity of 1.61% and a net margin of 1.39%. The company had revenue of $660.30 million for the quarter, compared to the consensus estimate of $667.05 million. During the same quarter last year, the company earned ($0.26) earnings per share. The firm’s revenue for the quarter was up 18.6% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 10th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.21%. The ex-dividend date was Thursday, November 9th. EQT’s dividend payout ratio is currently 57.15%.
In other EQT news, Director A. Bray Jr. Cary acquired 406 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was acquired at an average cost of $65.24 per share, for a total transaction of $26,487.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman David L. Porges sold 53,760 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $59.14, for a total value of $3,179,366.40. Following the completion of the sale, the chairman now owns 438,601 shares of the company’s stock, valued at $25,938,863.14. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Neuberger Berman Group LLC increased its position in shares of EQT by 13.1% in the second quarter. Neuberger Berman Group LLC now owns 2,328,251 shares of the oil and gas producer’s stock valued at $136,412,000 after buying an additional 270,054 shares in the last quarter. Mitchell Group Inc. boosted its stake in shares of EQT by 11.1% in the second quarter. Mitchell Group Inc. now owns 555,569 shares of the oil and gas producer’s stock worth $32,551,000 after acquiring an additional 55,330 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of EQT by 1.8% in the third quarter. Rhumbline Advisers now owns 335,485 shares of the oil and gas producer’s stock worth $21,887,000 after acquiring an additional 5,939 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new stake in shares of EQT in the second quarter worth approximately $2,466,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in shares of EQT in the second quarter worth approximately $4,142,000. Institutional investors and hedge funds own 90.55% of the company’s stock.
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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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