EQT’s (EQT) “Average” Rating Reiterated at Scotiabank
EQT Co. (NYSE:EQT)‘s stock had its “average” rating restated by Scotiabank in a research report issued to clients and investors on Wednesday. They currently have a $79.00 price target on the oil and gas producer’s stock. Scotiabank’s price objective would indicate a potential upside of 23.03% from the stock’s previous close.
Several other equities research analysts also recently weighed in on the company. Stifel Nicolaus increased their price target on EQT from $79.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, July 10th. Cowen and Company set a $80.00 price objective on EQT and gave the company a “buy” rating in a report on Tuesday, July 18th. Jefferies Group LLC restated a “hold” rating and set a $69.00 price objective on shares of EQT in a report on Tuesday, July 4th. BMO Capital Markets reaffirmed a “buy” rating and issued a $75.00 price objective on shares of EQT in a research report on Friday, September 1st. Finally, Howard Weil raised EQT from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, July 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $79.25.
Shares of EQT (NYSE EQT) remained flat at $64.21 on Wednesday. 4,276,026 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $62.76 and its 200 day moving average price is $60.27. EQT has a 52 week low of $49.63 and a 52 week high of $75.74. The stock has a market capitalization of $11.13 billion, a PE ratio of 2293.21 and a beta of 0.77.
EQT (NYSE:EQT) last announced its earnings results on Thursday, July 27th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.01. EQT had a return on equity of 2.73% and a net margin of 17.75%. The business had revenue of $631.10 million during the quarter, compared to analyst estimates of $642.21 million. During the same quarter in the previous year, the business earned ($0.35) earnings per share. The company’s revenue for the quarter was up 720.1% compared to the same quarter last year. Equities research analysts predict that EQT will post $0.91 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cleararc Capital Inc. increased its holdings in EQT by 0.9% during the first quarter. Cleararc Capital Inc. now owns 4,248 shares of the oil and gas producer’s stock valued at $260,000 after buying an additional 37 shares during the period. Mutual of America Capital Management LLC raised its stake in EQT by 0.3% in the first quarter. Mutual of America Capital Management LLC now owns 21,438 shares of the oil and gas producer’s stock worth $1,310,000 after buying an additional 58 shares in the last quarter. Cadence Capital Management LLC raised its stake in EQT by 1.1% in the first quarter. Cadence Capital Management LLC now owns 6,037 shares of the oil and gas producer’s stock worth $369,000 after buying an additional 64 shares in the last quarter. Pacer Advisors Inc. raised its stake in EQT by 3.1% in the first quarter. Pacer Advisors Inc. now owns 3,255 shares of the oil and gas producer’s stock worth $199,000 after buying an additional 99 shares in the last quarter. Finally, Utah Retirement Systems raised its stake in EQT by 0.3% in the first quarter. Utah Retirement Systems now owns 31,508 shares of the oil and gas producer’s stock worth $1,926,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 90.55% 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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