EQT Corp. (EQT) Downgraded by Tudor Pickering
EQT Corp. (NYSE:EQT) was downgraded by analysts at Tudor Pickering from a “buy” rating to a “hold” rating in a research note issued on Thursday.
Several other equities research analysts also recently weighed in on the company. Wolfe Research began coverage on EQT Corp. in a report on Friday, October 7th. They issued a “buy” rating and a $85.00 price target on the stock. GMP Securities began coverage on EQT Corp. in a report on Wednesday, September 28th. They issued a “buy” rating and a $92.00 price target on the stock. Stifel Nicolaus upgraded EQT Corp. from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a report on Friday, August 26th. Scotiabank downgraded EQT Corp. from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $91.00 to $90.00 in a report on Thursday, August 11th. Finally, Howard Weil downgraded EQT Corp. from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $91.00 to $90.00 in a report on Thursday, August 11th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of C$78.22.
Shares of EQT Corp. (NYSE:EQT) traded down 2.16% during midday trading on Thursday, hitting $68.83. The stock had a trading volume of 97,220 shares. The company’s market cap is $11.89 billion. The company’s 50 day moving average is $72.07 and its 200 day moving average is $71.90. EQT Corp. has a 52-week low of $47.10 and a 52-week high of $80.61.
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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 the 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 firm had revenue of $127.53 million for the quarter, compared to the consensus estimate of $461.53 million. During the same period in the prior year, the business posted ($0.06) earnings per share. The company’s revenue for the quarter was down 71.0% on a year-over-year basis. On average, analysts anticipate that EQT Corp. will post ($0.64) earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 11th will be given 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%.
A number of hedge funds have recently modified their holdings of EQT. Virginia Retirement System purchased a new stake in shares of EQT Corp. during the first quarter worth approximately $604,000. Ngam Advisors L.P. purchased a new stake in shares of EQT Corp. during the first quarter worth approximately $692,000. TIAA CREF Investment Management LLC boosted its stake in shares of EQT Corp. by 19.1% in the first quarter. TIAA CREF Investment Management LLC now owns 666,195 shares of the company’s stock worth $44,808,000 after buying an additional 106,608 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of EQT Corp. by 3.6% in the first quarter. Prudential Financial Inc. now owns 200,834 shares of the company’s stock worth $13,509,000 after buying an additional 7,000 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of EQT Corp. by 0.9% in the first quarter. Franklin Resources Inc. now owns 779,357 shares of the company’s stock worth $52,420,000 after buying an additional 6,805 shares in the last quarter. 87.73% of the stock is owned by institutional investors.
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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