EQT Corp. (EQT) Stock Price Up 2.9%
EQT Corp. (NYSE:EQT) shares rose 2.9% during mid-day trading on Tuesday . The company traded as high as $73.31 and last traded at $73.31, with a volume of 870,081 shares changing hands. The stock had previously closed at $71.23.
EQT has been the subject of a number of research analyst reports. Scotiabank reaffirmed a “sector outperform” rating and issued a $91.00 target price (down from $92.00) on shares of EQT Corp. in a report on Sunday, July 31st. Howard Weil cut shares of EQT Corp. from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the company from $91.00 to $90.00 in a report on Thursday, August 11th. Stifel Nicolaus raised shares of EQT Corp. from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a report on Friday, August 26th. Deutsche Bank AG cut shares of EQT Corp. from a “buy” rating to a “hold” rating and dropped their target price for the company from $81.00 to $79.00 in a report on Monday, June 13th. Finally, Jefferies Group increased their target price on shares of EQT Corp. from $74.00 to $77.00 and gave the company a “hold” rating in a report on Friday, July 29th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of C$78.67.
The firm’s 50-day moving average price is $71.05 and its 200 day moving average price is $70.89. The company’s market cap is $12.57 billion.
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EQT Corp. (NYSE:EQT) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.06. The company earned $127.53 million during the quarter, compared to analyst estimates of $461.53 million. EQT Corp. had a negative net margin of 18.74% and a negative return on equity of 1.27%. The business’s revenue for the quarter was down 71.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.06) EPS. Equities research analysts expect that EQT Corp. will post ($0.62) earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 12th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date was Wednesday, August 10th. EQT Corp.’s dividend payout ratio is currently -5.66%.
In related news, SVP Randall L. Crawford sold 4,981 shares of the stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of C$77.21, for a total transaction of C$384,583.01. Following the completion of the sale, the senior vice president now directly owns 90,723 shares of the company’s stock, valued at C$7,004,722.83. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in EQT Corp. during the fourth quarter valued at approximately $60,141,000. Chevy Chase Trust Holdings Inc. raised its stake in EQT Corp. by 9.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 135,729 shares of the company’s stock valued at $9,129,000 after buying an additional 11,495 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in EQT Corp. by 20.7% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 30,176 shares of the company’s stock valued at $2,030,000 after buying an additional 5,173 shares in the last quarter. Exxonmobil Investment Management Inc. TX raised its stake in EQT Corp. by 13.7% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 38,876 shares of the company’s stock valued at $2,615,000 after buying an additional 4,685 shares in the last quarter. Finally, Raymond James Trust N.A. raised its stake in EQT Corp. by 2.3% in the first quarter. Raymond James Trust N.A. now owns 8,368 shares of the company’s stock valued at $563,000 after buying an additional 189 shares in the last quarter. 87.74% of the stock is owned by institutional investors and hedge funds.
About EQT Corp.
EQT Corporation (EQT) is an energy company. The Company operates through two business segments: EQT Production and EQT Midstream. EQT Production is a natural gas producer in the Appalachian Basin with over 10 trillion cubic feet equivalent (Tcfe) of natural gas, natural gas liquid (NGL) and crude oil reserves across approximately 3.4 million acres, including approximately 630,000 gross acres in the Marcellus play.
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