EQT Corp. (EQT) Stock Rating Lowered by Tudor Pickering
Other equities analysts have also recently issued research reports about the company. Jefferies Group boosted their price objective on EQT Corp. from $74.00 to $77.00 and gave the company a hold rating in a report on Friday, July 29th. Scotiabank cut EQT Corp. from an outperform rating to a sector perform rating and decreased their price objective for the company from $91.00 to $90.00 in a report on Thursday, August 11th. Howard Weil decreased their price objective on EQT Corp. from $92.00 to $91.00 and set a sector outperform rating for the company in a report on Friday, July 29th. Citigroup Inc. boosted their price objective on 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 raised EQT Corp. from a hold rating to a buy rating and set a $89.00 price objective for the company in a report on Tuesday, July 5th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. EQT Corp. has an average rating of Hold and an average price target of C$77.50.
EQT Corp. (NYSE:EQT) opened at 65.61 on Thursday. The company’s market capitalization is $11.33 billion. EQT Corp. has a 52 week low of $47.10 and a 52 week high of $80.61. The company’s 50-day moving average price is $71.55 and its 200-day moving average price is $71.96.
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EQT Corp. (NYSE:EQT) last issued 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. The business earned $127.53 million during the quarter, compared to analysts’ expectations of $461.53 million. EQT Corp. had a negative return on equity of 1.27% and a negative net margin of 18.74%. The company’s revenue for the quarter was down 71.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.06) EPS. Equities analysts forecast that EQT Corp. will post ($0.64) earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Friday, November 11th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $0.12 annualized dividend and a dividend yield of 0.18%. EQT Corp.’s dividend payout ratio (DPR) is -5.66%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. State Treasurer State of Michigan raised its position in shares of EQT Corp. by 9.1% in the second quarter. State Treasurer State of Michigan now owns 59,970 shares of the company’s stock valued at $4,643,000 after buying an additional 5,000 shares during the period. Brown Advisory Inc. raised its position in shares of EQT Corp. by 23.7% in the second quarter. Brown Advisory Inc. now owns 18,884 shares of the company’s stock valued at $1,462,000 after buying an additional 3,623 shares during the period. Artemis Investment Management LLP acquired a new position in shares of EQT Corp. during the second quarter valued at approximately $16,265,000. Blair William & Co. IL raised its position in shares of EQT Corp. by 46.0% in the second quarter. Blair William & Co. IL now owns 10,539 shares of the company’s stock valued at $816,000 after buying an additional 3,319 shares during the period. Finally, Canada Pension Plan Investment Board raised its position 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 valued at $203,000 after buying an additional 100 shares during the period. Institutional investors own 87.74% of the company’s stock.
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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