EQT Corp. (EQT) Stock Rating Lowered by Tudor Pickering
A number of other brokerages also recently weighed in on EQT. Stifel Nicolaus upgraded shares of 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 shares of EQT Corp. in a report on Wednesday, September 28th. They set a buy rating and a $92.00 target price on the stock. Jefferies Group upped 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. 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. Finally, Barclays PLC upped their price objective on shares of EQT Corp. from $82.00 to $85.00 and gave the company an overweight rating in a report on Friday, July 29th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. EQT Corp. presently has a consensus rating of Hold and a consensus target price of C$77.50.
Shares of EQT Corp. (NYSE:EQT) opened at 65.61 on Thursday. EQT Corp. has a 12 month low of $47.10 and a 12 month high of $80.61. The company’s 50 day moving average is $71.55 and its 200-day moving average is $71.96. The firm’s market cap is $11.33 billion.
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EQT Corp. (NYSE:EQT) last issued its earnings results 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 business had revenue of $127.53 million for the quarter, compared to the consensus estimate of $461.53 million. EQT Corp. had a negative net margin of 18.74% and a negative return on equity of 1.27%. The firm’s revenue for the quarter was down 71.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.06) earnings per share. Equities research analysts predict that EQT Corp. will post ($0.64) EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 11th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date of this dividend is Tuesday, November 8th. EQT Corp.’s payout ratio is presently -5.66%.
A number of institutional investors have recently made changes to their positions in the stock. 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 worth $4,643,000 after buying an additional 5,000 shares during the last quarter. 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 worth $1,462,000 after buying an additional 3,623 shares during the last quarter. Artemis Investment Management LLP purchased a new position in shares of EQT Corp. during the second quarter worth 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 worth $816,000 after buying an additional 3,319 shares during the last quarter. 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 worth $203,000 after buying an additional 100 shares during the last quarter. 87.74% of the stock is owned by 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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