EQT Corp. Receives “Neutral” Rating from Zacks (EQT)
EQT Corp. (NYSE:EQT)‘s stock had its “neutral” rating restated by Zacks in a report released on Monday, AR Network reports. They currently have a $103.00 target price on the stock. Zacks‘ price target would suggest a potential upside of 5.46% from the stock’s previous close.
Zacks‘ analyst wrote, “We are maintaining our long-term Neutral recommendation on EQT Corporation following its fourth quarter 2013 results. The company posted lukewarm numbers in the fourth quarter missing estimates but beating year-ago numbers. Going forward, increased drilling and investment in the deeper Marcellus gas shale play will be the main growth driver. However, we remain worried about susceptibility to erratic energy sector fundamentals, lacking a well diversified asset portfolio leading to operational hindrances. However, we expect the company to exceed its 2014 targeted production sales volume supported by the low-risk/high-growth drilling locations in the Marcellus Shale.”
Shares of EQT Corp. (NYSE:EQT) traded up 2.12% on Monday, hitting $97.67. 1,732,276 shares of the company’s stock traded hands. EQT Corp. has a 1-year low of $57.86 and a 1-year high of $97.74. The stock’s 50-day moving average is $90.7 and its 200-day moving average is $87.6. The company has a market cap of $14.720 billion and a P/E ratio of 37.14.
EQT Corp. (NYSE:EQT) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.47 EPS for the quarter, missing the Thomson Reuters 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 in the prior year, the company posted $0.48 earnings per share. The company’s quarterly revenue was up 21.5% on a year-over-year basis. On average, analysts predict that EQT Corp. will post $3.28 earnings per share 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 0.12%. The ex-dividend date of this dividend is Wednesday, February 12th.
A number of other analysts have also recently weighed in on EQT. Analysts at Stifel Nicolaus upgraded shares of EQT Corp. to an “equal weight” rating in a research note on Friday. They now have a $100.00 price target on the stock, up previously from $85.00. Separately, 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 “buy” rating on the stock. Finally, 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 investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $96.00.
EQT Corporation (NYSE:EQT) conducts its business through three business segments: EQT Production, EQT Midstream and Distribution.
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