EQT Co. (NYSE:EQT) – SunTrust Banks lowered their FY2017 EPS estimates for shares of EQT in a report issued on Sunday. SunTrust Banks analyst W. Fitzpatrick now anticipates that the oil and gas producer will post earnings per share of $1.12 for the year, down from their previous forecast of $1.13. SunTrust Banks currently has a “Hold” rating and a $65.00 price objective on the stock. SunTrust Banks also issued estimates for EQT’s Q4 2017 earnings at $0.51 EPS, Q1 2018 earnings at $1.07 EPS and FY2018 earnings at $3.80 EPS.
EQT has been the topic of several other research reports. ValuEngine cut EQT from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Citigroup reissued a “buy” rating and issued a $79.00 price target on shares of EQT in a research note on Monday, January 22nd. Zacks Investment Research cut EQT from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. BMO Capital Markets reissued a “buy” rating and issued a $75.00 price target on shares of EQT in a research note on Tuesday, November 14th. Finally, Jefferies Group set a $65.00 price target on EQT and gave the company a “hold” rating in a research note on Tuesday, January 30th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $76.77.
A number of institutional investors have recently made changes to their positions in EQT. Calton & Associates Inc. bought a new stake in EQT during the fourth quarter worth approximately $104,000. NuWave Investment Management LLC bought a new stake in EQT during the fourth quarter worth approximately $126,000. Zeke Capital Advisors LLC bought a new stake in EQT during the third quarter worth approximately $212,000. FNY Partners Fund LP bought a new stake in EQT during the fourth quarter worth approximately $220,000. Finally, Virtu Financial LLC bought a new stake in EQT during the fourth quarter worth approximately $220,000.
In related news, Director Thomas F. Karam bought 10,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was purchased at an average price of $59.26 per share, with a total value of $592,600.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $1,185,200. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman David L. Porges sold 53,760 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $59.14, for a total value of $3,179,366.40. Following the sale, the chairman now directly owns 438,601 shares of the company’s stock, valued at approximately $25,938,863.14. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Wednesday, February 14th will be given a dividend of $0.03 per share. The ex-dividend date is Tuesday, February 13th. This represents a $0.12 dividend on an annualized basis and a yield of 0.25%. EQT’s payout ratio is currently 57.15%.
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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