EQT Corp. (EQT) Downgraded to “Hold” at Tudor Pickering
EQT Corp. (NYSE:EQT) was downgraded by equities researchers at Tudor Pickering from a “buy” rating to a “hold” rating in a report released on Thursday.
Several other analysts have also recently commented on the company. Scotiabank reiterated a “sector outperform” rating and issued a $91.00 target price (down from $92.00) on shares of EQT Corp. in a report on Sunday, July 31st. Howard Weil cut EQT Corp. from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the company from $91.00 to $90.00 in a report on Thursday, August 11th. Stifel Nicolaus upgraded EQT Corp. from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a report on Friday, August 26th. GMP Securities initiated coverage on EQT Corp. in a report on Wednesday, September 28th. They issued a “buy” rating and a $92.00 target price on the stock. Finally, Wolfe Research initiated coverage on EQT Corp. in a report on Friday, October 7th. They issued a “buy” rating and a $85.00 target price on the stock. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of C$78.22.
Shares of EQT Corp. (NYSE:EQT) traded down 2.17% during trading on Thursday, hitting $68.82. 96,409 shares of the stock were exchanged. 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 is $72.07 and its 200 day moving average is $71.90. The company’s market cap is $11.89 billion.
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EQT Corp. (NYSE:EQT) last released its quarterly earnings data on Thursday, July 28th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating 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 earned $127.53 million during the quarter, compared to the consensus estimate of $461.53 million. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. The firm’s revenue was down 71.0% compared to the same quarter last year. Equities analysts forecast that EQT Corp. will post ($0.64) earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Friday, November 11th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.17%. EQT Corp.’s dividend payout ratio is presently -5.66%.
Several large investors have recently made changes to their positions in EQT. Boston Partners raised its stake in shares of EQT Corp. by 89.9% in the second quarter. Boston Partners now owns 6,902,638 shares of the company’s stock valued at $534,471,000 after buying an additional 3,268,060 shares in the last quarter. Davis Selected Advisers acquired a new stake in shares of EQT Corp. during the second quarter valued at about $189,106,000. Vanguard Group Inc. raised its stake in shares of EQT Corp. by 10.4% in the second quarter. Vanguard Group Inc. now owns 15,983,499 shares of the company’s stock valued at $1,237,603,000 after buying an additional 1,508,708 shares in the last quarter. Cohen & Steers Inc. acquired a new stake in shares of EQT Corp. during the second quarter valued at about $14,814,000. Finally, Wedge Capital Management L L P NC acquired a new stake in shares of EQT Corp. during the second quarter valued at about $85,980,000. 87.73% of the stock is 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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