EQT Corporation to Post FY2017 Earnings of $0.35 Per Share, US Capital Advisors Forecasts (EQT)
EQT Corporation (NYSE:EQT) – Analysts at US Capital Advisors cut their FY2017 EPS estimates for EQT Corporation in a note issued to investors on Tuesday. US Capital Advisors analyst C. Horwitz now anticipates that the oil and gas producer will post earnings per share of $0.35 for the year, down from their previous forecast of $0.43. US Capital Advisors also issued estimates for EQT Corporation’s Q4 2017 earnings at $0.13 EPS, Q3 2018 earnings at $0.06 EPS, Q4 2018 earnings at $0.33 EPS and FY2018 earnings at $0.69 EPS.
EQT Corporation (NYSE:EQT) last released its earnings results on Thursday, July 27th. The oil and gas producer reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The firm had revenue of $631.10 million for the quarter, compared to analysts’ expectations of $642.21 million. EQT Corporation had a return on equity of 0.91% and a net margin of 0.20%. The company’s quarterly revenue was up 720.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.35) earnings per share.
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Several other analysts have also commented on the stock. Cowen and Company set a $80.00 price target on shares of EQT Corporation and gave the company a “buy” rating in a research report on Wednesday, October 18th. Morgan Stanley lifted their price target on shares of EQT Corporation from $60.00 to $64.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 18th. J P Morgan Chase & Co lifted their price target on shares of EQT Corporation from $75.00 to $81.00 and gave the company an “overweight” rating in a research report on Thursday, October 12th. BMO Capital Markets set a $75.00 target price on EQT Corporation and gave the company a “buy” rating in a research report on Tuesday, October 10th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $66.00 target price on shares of EQT Corporation in a research report on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $79.20.
EQT Corporation (NYSE:EQT) opened at 64.05 on Wednesday. The stock’s 50 day moving average price is $63.63 and its 200-day moving average price is $60.64. The company has a market cap of $11.10 billion, a PE ratio of 2287.50 and a beta of 0.77. EQT Corporation has a 1-year low of $49.63 and a 1-year high of $75.74.
Several large investors have recently bought and sold shares of the business. Wedge Capital Management L L P NC grew its stake in shares of EQT Corporation by 6.1% in the second quarter. Wedge Capital Management L L P NC now owns 3,142,162 shares of the oil and gas producer’s stock worth $184,099,000 after acquiring an additional 181,277 shares in the last quarter. Neuberger Berman Group LLC grew its stake in shares of EQT Corporation by 13.1% in the second quarter. Neuberger Berman Group LLC now owns 2,328,251 shares of the oil and gas producer’s stock worth $136,412,000 after acquiring an additional 270,054 shares in the last quarter. Lord Abbett & CO. LLC grew its stake in shares of EQT Corporation by 2.1% in the second quarter. Lord Abbett & CO. LLC now owns 697,211 shares of the oil and gas producer’s stock worth $40,850,000 after acquiring an additional 14,019 shares in the last quarter. Mitchell Group Inc. grew its stake in shares of EQT Corporation by 11.1% in the second quarter. Mitchell Group Inc. now owns 555,569 shares of the oil and gas producer’s stock worth $32,551,000 after acquiring an additional 55,330 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of EQT Corporation in the first quarter worth $32,701,000. Institutional investors and hedge funds own 90.54% of the company’s stock.
In other EQT Corporation news, Director A. Bray Jr. Cary purchased 406 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was acquired at an average price of $65.24 per share, for a total transaction of $26,487.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.00% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 10th will be paid a $0.03 dividend. The ex-dividend date is Thursday, November 9th. This represents a $0.12 annualized dividend and a dividend yield of 0.19%. EQT Corporation’s dividend payout ratio (DPR) is 400.13%.
About EQT Corporation
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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