EQT Corp. (EQT) Coverage Initiated by Analysts at Wolfe Research
Other equities research analysts have also issued reports about the stock. Jefferies Group raised their price objective 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. Scotiabank lowered shares of EQT Corp. from an outperform rating to a sector perform rating and reduced their price objective for the company from $91.00 to $90.00 in a report on Thursday, August 11th. Howard Weil reduced their price objective on shares of EQT Corp. from $92.00 to $91.00 and set a sector outperform rating on the stock in a report on Friday, July 29th. Citigroup Inc. raised their price objective on shares of EQT Corp. from $72.00 to $75.00 and gave the company a neutral rating in a report on Friday, July 29th. Finally, 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 report on Tuesday, July 5th. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. EQT Corp. has an average rating of Hold and an average price target of C$78.22.
EQT Corp. (NYSE:EQT) opened at 70.35 on Friday. The firm’s market capitalization is $12.15 billion. The stock’s 50 day moving average price is $72.07 and its 200-day moving average price is $71.90. EQT Corp. has a 12 month low of $47.10 and a 12 month high of $80.61.
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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, beating the Zacks’ 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 business had revenue of $127.53 million for the quarter, compared to analyst estimates of $461.53 million. During the same period last year, the business earned ($0.06) EPS. The company’s revenue was down 71.0% on a year-over-year basis. Equities analysts forecast that EQT Corp. will post ($0.64) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 11th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.17%. EQT Corp.’s dividend payout ratio is currently -5.66%.
Hedge funds have recently added to or reduced their stakes in the company. State Treasurer State of Michigan increased its stake in EQT Corp. by 9.1% in the second quarter. State Treasurer State of Michigan now owns 59,970 shares of the company’s stock worth $4,643,000 after buying an additional 5,000 shares in the last quarter. Brown Advisory Inc. increased its stake in EQT Corp. by 23.7% in the second quarter. Brown Advisory Inc. now owns 18,884 shares of the company’s stock worth $1,462,000 after buying an additional 3,623 shares in the last quarter. Artemis Investment Management LLP bought a new stake in EQT Corp. during the second quarter worth approximately $16,265,000. Blair William & Co. IL increased its stake in EQT Corp. by 46.0% in the second quarter. Blair William & Co. IL now owns 10,539 shares of the company’s stock worth $816,000 after buying an additional 3,319 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in EQT Corp. by 3.4% in the first quarter. Canada Pension Plan Investment Board now owns 3,014 shares of the company’s stock worth $203,000 after buying an additional 100 shares in the last quarter. 87.73% of the stock is currently owned by hedge funds and other 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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