EQT Corp. (EQT) Earns Buy Rating from Analysts at Wolfe Research
Wolfe Research started 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 brokerages have also weighed in on EQT. Stifel Nicolaus raised EQT Corp. from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a report on Friday, August 26th. GMP Securities started coverage on EQT Corp. in a research report on Wednesday, September 28th. They set a “buy” rating and a $92.00 target price for the company. Jefferies Group raised their target price on EQT Corp. from $74.00 to $77.00 and gave the stock a “hold” rating in a research report on Friday, July 29th. Zacks Investment Research upgraded EQT Corp. from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a research report on Tuesday, July 5th. Finally, Deutsche Bank AG downgraded EQT Corp. from a “buy” rating to a “hold” rating and cut their target price for the stock from $81.00 to $79.00 in a research report on Monday, June 13th. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of C$79.11.
EQT Corp. (NYSE:EQT) traded down 0.70% on Friday, hitting $72.35. The stock had a trading volume of 1,260,118 shares. The firm’s market cap is $12.50 billion. EQT Corp. has a 1-year low of $47.10 and a 1-year high of $80.61. The firm’s 50-day moving average price is $72.06 and its 200-day moving average price is $71.67.
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EQT Corp. (NYSE:EQT) last announced its quarterly earnings data on Thursday, July 28th. The company reported ($0.35) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.41) by $0.06. EQT Corp. had a negative return on equity of 1.27% and a negative net margin of 18.74%. The company had revenue of $127.53 million for the quarter, compared to analyst estimates of $461.53 million. During the same quarter last year, the firm earned ($0.06) EPS. EQT Corp.’s revenue for the quarter was down 71.0% compared to the same quarter last year. On average, equities research analysts predict that EQT Corp. will post ($0.64) earnings per share for the current year.
Several large investors have recently made changes to their positions in EQT. Boston Partners boosted its position in EQT Corp. by 89.9% in the second quarter. Boston Partners now owns 6,902,638 shares of the company’s stock worth $534,471,000 after buying an additional 3,268,060 shares during the last quarter. Davis Selected Advisers acquired a new position in EQT Corp. during the second quarter worth about $189,106,000. Vanguard Group Inc. boosted its position in EQT Corp. by 10.4% in the second quarter. Vanguard Group Inc. now owns 15,983,499 shares of the company’s stock worth $1,237,603,000 after buying an additional 1,508,708 shares during the last quarter. Cohen & Steers Inc. acquired a new position in EQT Corp. during the second quarter worth about $14,814,000. Finally, Wedge Capital Management L L P NC acquired a new position in EQT Corp. during the second quarter worth about $85,980,000. 87.73% 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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