Seaport Global Securities Weighs in on EQT Corp.’s Q3 2016 Earnings (EQT)
EQT Corp. (NYSE:EQT) – Analysts at Seaport Global Securities upped their Q3 2016 earnings per share estimates for EQT Corp. in a report released on Thursday. Seaport Global Securities analyst M. Kelly now anticipates that the firm will post earnings of ($0.40) per share for the quarter, up from their prior estimate of ($0.42). Seaport Global Securities also issued estimates for EQT Corp.’s FY2016 earnings at ($0.54) EPS.
Several other equities research analysts have also commented on EQT. KLR Group reaffirmed a “buy” rating and set a $95.00 price target (down previously from $100.00) on shares of EQT Corp. in a research report on Monday, August 1st. Howard Weil reduced their price target on shares of EQT Corp. from $92.00 to $91.00 and set a “sector outperform” rating for the company in a research report on Friday, July 29th. Zacks Investment Research raised shares of EQT Corp. from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a research report on Tuesday, July 5th. Citigroup Inc. upped their price target on shares of EQT Corp. from $72.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, July 29th. Finally, Barclays PLC increased their target price on shares of EQT Corp. from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, July 29th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of C$78.22.
Shares of EQT Corp. (NYSE:EQT) opened at 67.46 on Monday. The stock has a 50 day moving average of $71.91 and a 200-day moving average of $71.90. The company’s market capitalization is $11.65 billion. EQT Corp. has a one year low of $47.10 and a one year 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, topping the Zacks’ consensus estimate of ($0.41) by $0.06. The firm earned $127.53 million during the quarter, compared to analyst estimates of $461.53 million. EQT Corp. had a negative net margin of 18.74% and a negative return on equity of 1.27%. The business’s quarterly revenue was down 71.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.06) EPS.
A number of hedge funds have recently modified their holdings of the company. Mizuho Asset Management Co. Ltd. increased its stake in shares of EQT Corp. by 116.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,280 shares of the company’s stock worth $177,000 after buying an additional 1,229 shares in the last quarter. Independent Portfolio Consultants Inc. bought a new stake in shares of EQT Corp. during the third quarter worth about $182,000. Euclid Advisors LLC bought a new stake in shares of EQT Corp. during the second quarter worth about $183,000. Capital Guardian Trust Co. increased its stake in shares of EQT Corp. by 1,304.3% in the second quarter. Capital Guardian Trust Co. now owns 2,584 shares of the company’s stock worth $200,000 after buying an additional 2,400 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of 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. Institutional investors own 87.73% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 11th will be given a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $0.12 dividend on an annualized basis and a yield of 0.18%. EQT Corp.’s dividend payout ratio is presently -5.66%.
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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