Stifel Nicolaus Upgrades EQT Corp. to “Equal Weight” (EQT)
EQT Corp. (NYSE:EQT) was upgraded by equities researchers at Stifel Nicolaus to an “equal weight” rating in a research report issued on Friday, AmericanBankingNews.com reports. The firm currently has a $100.00 price target on the stock, up from their previous price target of $85.00. Stifel Nicolaus’ price objective suggests a potential upside of 4.56% from the company’s current price.
The analysts wrote, “EQT trades at a fair multiple to reflect its superior production growth through 2018. Significant midstream assets limit downside risk and provide a source of capital as EQT drops down these assets to its midstream MLP (EQM), over time. Trades 1 turn above gas weighted peers on 2016e EV/EBITDA based on our 2014-16e production CAGR of 30%. One of the most shareholder friendly management teams in the industry that continuously seeks ways to increase shareholder value.”
EQT Corp. (NYSE:EQT) traded up 0.96% during mid-day trading on Friday, hitting $96.62. 486,839 shares of the company’s stock traded hands. EQT Corp. has a 52 week low of $57.86 and a 52 week high of $96.49. The stock has a 50-day moving average of $90.20 and a 200-day moving average of $87.44. The company has a market cap of $14.562 billion and a P/E ratio of 44.72.
EQT Corp. (NYSE:EQT) last released its earnings data on Wednesday, February 19th. The company reported $0.47 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.69 by $0.22. The company had revenue of $493.43 million for the quarter, compared to the consensus estimate of $502.00 million. During the same quarter last year, the company posted $0.48 earnings per share. EQT Corp.’s revenue was up 21.5% compared to the same quarter last year. Analysts expect that EQT Corp. will post $2.51 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Saturday, March 1st. Stockholders of record on Friday, February 14th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend is Wednesday, February 12th.
EQT has been the subject of a number of other recent research reports. Analysts at Maxim Group raised their price target on shares of EQT Corp. from $106.00 to $117.00 in a research note on Friday. They now have a “positive” rating on the stock. Analysts at KLR Group raised their price target on shares of EQT Corp. from $22.00 to $116.00 in a research note on Tuesday, December 24th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $94.92.
EQT Corporation (NYSE:EQT) conducts its business through three business segments: EQT Production, EQT Midstream and Distribution.
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