EQT Corp. (EQT) Now Covered by Analysts at Wolfe Research
Equities researchers at Wolfe Research began coverage on shares of EQT Corp. (NYSE:EQT) in a research report issued to clients and investors on Friday. The brokerage set a “buy” rating and a $85.00 price target on the stock.
A number of other research firms have also weighed in on EQT. Stifel Nicolaus upgraded shares of EQT Corp. from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a research report on Friday, August 26th. GMP Securities initiated coverage on shares of EQT Corp. in a research report on Wednesday, September 28th. They issued a “buy” rating and a $92.00 price objective on the stock. Jefferies Group lifted their price objective on shares of EQT Corp. from $74.00 to $77.00 and gave the company a “hold” rating in a research report on Friday, July 29th. Zacks Investment Research upgraded shares of EQT Corp. from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a research report on Tuesday, July 5th. Finally, Deutsche Bank AG lowered shares of EQT Corp. from a “buy” rating to a “hold” rating and lowered their price objective for the company from $81.00 to $79.00 in a research report on Monday, June 13th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. 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% during mid-day trading on Friday, reaching $72.35. 1,260,118 shares of the company’s stock traded hands. The stock’s market capitalization is $12.50 billion. EQT Corp. has a 52 week low of $47.10 and a 52 week high of $80.61. The stock’s 50 day moving average is $72.06 and its 200-day moving average is $71.67.
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EQT Corp. (NYSE:EQT) last announced its earnings results on Thursday, July 28th. The company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.06. The business had revenue of $127.53 million for the quarter, compared to analysts’ expectations of $461.53 million. EQT Corp. had a negative net margin of 18.74% and a negative return on equity of 1.27%. The company’s quarterly revenue was down 71.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.06) EPS. On average, equities analysts anticipate that EQT Corp. will post ($0.64) EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Independent Portfolio Consultants Inc. bought a new position in EQT Corp. during the third quarter worth approximately $182,000. Fulton Bank N.A. bought a new position in EQT Corp. during the third quarter worth approximately $205,000. BNP Paribas Arbitrage SA increased its position in EQT Corp. by 37.2% in the third quarter. BNP Paribas Arbitrage SA now owns 42,818 shares of the company’s stock worth $3,109,000 after buying an additional 11,607 shares in the last quarter. Macquarie Group Ltd. increased its position in EQT Corp. by 83.7% in the second quarter. Macquarie Group Ltd. now owns 95,930 shares of the company’s stock worth $7,428,000 after buying an additional 43,716 shares in the last quarter. Finally, Williams Jones & Associates LLC increased its position in EQT Corp. by 67.9% in the second quarter. Williams Jones & Associates LLC now owns 7,725 shares of the company’s stock worth $598,000 after buying an additional 3,125 shares in the last quarter. 87.73% of the stock is owned by institutional investors.
EQT Corp. Company Profile
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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