EQT Corp. (EQT) Coverage Initiated by Analysts at Wolfe Research
Equities research analysts at Wolfe Research began coverage on shares of EQT Corp. (NYSE:EQT) in a report issued on Friday. The brokerage set a “buy” rating and a $85.00 price target on the stock.
Several other analysts have also issued reports on EQT. Deutsche Bank AG lowered shares of EQT Corp. from a “buy” rating to a “hold” rating and dropped their price target for the stock from $81.00 to $79.00 in a research report on Monday, June 13th. Zacks Investment Research raised shares of EQT Corp. from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research report on Tuesday, July 5th. Howard Weil dropped their price target on shares of EQT Corp. from $92.00 to $91.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 29th. Barclays PLC upped their price target on shares of EQT Corp. from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, July 29th. Finally, Citigroup Inc. upped their price target on shares of EQT Corp. from $72.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, July 29th. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. EQT Corp. currently has an average rating of “Hold” and an average target price of C$79.11.
EQT Corp. (NYSE:EQT) traded down 0.21% during trading on Friday, reaching $72.71. 914,372 shares of the company were exchanged. The firm’s market cap is $12.56 billion. EQT Corp. has a 52-week low of $47.10 and a 52-week high of $80.61. The firm has a 50-day moving average of $72.06 and a 200-day moving average of $71.67.
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EQT Corp. (NYSE:EQT) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.41) by $0.06. EQT Corp. had a negative net margin of 18.74% and a negative return on equity of 1.27%. The firm had revenue of $127.53 million for the quarter, compared to analyst estimates of $461.53 million. During the same period in the prior year, the firm posted ($0.06) earnings per share. The company’s quarterly revenue was down 71.0% compared to the same quarter last year. On average, equities analysts forecast that EQT Corp. will post ($0.64) EPS for the current year.
Large investors have recently made changes to their positions in the company. Mizuho Asset Management Co. Ltd. increased its stake in shares of EQT Corp. by 116.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,280 shares of the company’s stock worth $177,000 after buying an additional 1,229 shares during the last quarter. Independent Portfolio Consultants Inc. purchased a new stake in shares of EQT Corp. during the third quarter worth about $182,000. Euclid Advisors LLC purchased a new stake in shares of EQT Corp. during the second quarter worth about $183,000. IFP Advisors Inc increased its stake in shares of EQT Corp. by 2.1% in the first quarter. IFP Advisors Inc now owns 2,860 shares of the company’s stock worth $192,000 after buying an additional 60 shares during the last quarter. Finally, Capital Guardian Trust Co. increased its stake in shares of EQT Corp. by 1,304.3% in the second quarter. Capital Guardian Trust Co. now owns 2,584 shares of the company’s stock worth $200,000 after buying an additional 2,400 shares during the last quarter. Hedge funds and other institutional investors own 87.73% of the company’s stock.
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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