Jefferies Group Analysts Reduce Earnings Estimates for EQT Co. (EQT)
EQT Co. (NYSE:EQT) – Stock analysts at Jefferies Group dropped their Q1 2017 earnings estimates for EQT in a note issued to investors on Tuesday. Jefferies Group analyst Z. Parham now expects that the oil and gas producer will post earnings of $0.51 per share for the quarter, down from their prior forecast of $0.63. Jefferies Group has a “Hold” rating and a $69.00 price objective on the stock.
EQT (NYSE:EQT) last issued its quarterly earnings data on Thursday, February 2nd. The oil and gas producer reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.35. EQT had a negative return on equity of 0.53% and a negative net margin of 28.16%. The business had revenue of $379.02 million for the quarter, compared to the consensus estimate of $578.01 million. During the same period in the prior year, the business earned ($0.07) earnings per share. The business’s revenue was down 37.0% on a year-over-year basis.
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Other analysts have also recently issued research reports about the company. Royal Bank of Canada reaffirmed a “buy” rating and issued a $88.00 price target on shares of EQT in a research report on Tuesday, March 28th. Zacks Investment Research cut EQT from a “buy” rating to a “hold” rating in a research report on Tuesday, March 7th. Scotiabank set a $80.00 price target on EQT and gave the stock a “hold” rating in a research report on Monday, March 27th. KLR Group reaffirmed a “buy” rating and issued a $94.00 price target on shares of EQT in a research report on Friday, February 3rd. Finally, Stifel Nicolaus started coverage on EQT in a research report on Thursday, March 23rd. They issued a “buy” rating and a $63.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $80.64.
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EQT (NYSE:EQT) opened at 62.25 on Thursday. EQT has a 52-week low of $56.33 and a 52-week high of $80.61. The company’s 50-day moving average price is $60.06 and its 200 day moving average price is $64.61. The stock’s market capitalization is $10.76 billion.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Friday, May 12th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.19%. EQT’s dividend payout ratio is -4.49%.
In other news, insider M Elise Hyland sold 3,479 shares of the company’s stock in a transaction that occurred on Friday, March 31st. The stock was sold at an average price of $60.56, for a total value of $210,688.24. Following the sale, the insider now directly owns 15,941 shares in the company, valued at approximately $965,386.96. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director A. Bray Jr. Cary acquired 421 shares of the stock in a transaction dated Monday, April 3rd. The stock was bought at an average price of $61.10 per share, for a total transaction of $25,723.10. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.
Several large investors have recently added to or reduced their stakes in EQT. Canada Pension Plan Investment Board raised its stake in EQT by 193.8% in the third quarter. Canada Pension Plan Investment Board now owns 1,510 shares of the oil and gas producer’s stock valued at $110,000 after buying an additional 996 shares in the last quarter. Northern Trust Corp raised its stake in EQT by 2.8% in the third quarter. Northern Trust Corp now owns 1,801,559 shares of the oil and gas producer’s stock valued at $130,828,000 after buying an additional 48,988 shares in the last quarter. Whittier Trust Co. bought a new stake in EQT during the third quarter valued at $5,200,000. Boston Private Wealth LLC raised its stake in EQT by 11.8% in the third quarter. Boston Private Wealth LLC now owns 160,080 shares of the oil and gas producer’s stock valued at $11,625,000 after buying an additional 16,928 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its stake in EQT by 1.9% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 364,703 shares of the oil and gas producer’s stock valued at $26,485,000 after buying an additional 6,699 shares in the last quarter. Institutional investors own 93.46% of the company’s stock.
EQT Corporation is a natural gas company. The Company operates through three segments: EQT Production, EQT Gathering and EQT Transmission. The EQT Production segment includes its exploration for, and development and production of, natural gas, natural gas liquids and a limited amount of crude oil, primarily in the Appalachian Basin.
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