EQT Co. (NYSE:EQT) – SunTrust Banks issued their Q1 2019 earnings estimates for shares of EQT in a note issued to investors on Sunday. SunTrust Banks analyst W. Fitzpatrick forecasts that the oil and gas producer will earn $1.36 per share for the quarter. SunTrust Banks currently has a “Hold” rating and a $65.00 target price on the stock. SunTrust Banks also issued estimates for EQT’s Q2 2019 earnings at $1.01 EPS, Q3 2019 earnings at $1.11 EPS, Q4 2019 earnings at $1.31 EPS and FY2019 earnings at $4.79 EPS.
A number of other research analysts have also recently issued reports on the company. Wolfe Research raised EQT from a “peer perform” rating to an “outperform” rating in a research note on Wednesday. Royal Bank of Canada raised EQT from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $45.73 to $77.00 in a research note on Monday. They noted that the move was a valuation call. ValuEngine cut EQT from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Jefferies Group set a $65.00 target price on EQT and gave the company a “hold” rating in a research note on Tuesday, January 30th. Finally, Morgan Stanley decreased their target price on EQT from $63.00 to $59.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $76.77.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Guggenheim Capital LLC increased its position in EQT by 4.5% during the fourth quarter. Guggenheim Capital LLC now owns 703,477 shares of the oil and gas producer’s stock worth $40,040,000 after buying an additional 30,208 shares during the last quarter. QS Investors LLC increased its position in EQT by 27.6% during the fourth quarter. QS Investors LLC now owns 26,714 shares of the oil and gas producer’s stock worth $1,521,000 after buying an additional 5,777 shares during the last quarter. EnTrustPermal Partners Offshore LP acquired a new position in EQT during the fourth quarter worth approximately $3,985,000. Franklin Resources Inc. increased its position in EQT by 7.3% during the fourth quarter. Franklin Resources Inc. now owns 325,757 shares of the oil and gas producer’s stock worth $18,542,000 after buying an additional 22,275 shares during the last quarter. Finally, Castleton Investment Management LLC increased its position in EQT by 166.7% during the fourth quarter. Castleton Investment Management LLC now owns 40,000 shares of the oil and gas producer’s stock worth $2,277,000 after buying an additional 25,000 shares during the last quarter.
In related news, Chairman David L. Porges sold 53,760 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $59.14, for a total transaction of $3,179,366.40. Following the sale, the chairman now owns 438,601 shares in the company, valued at $25,938,863.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Wednesday, February 14th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $0.12 annualized dividend and a yield of 0.25%. EQT’s payout ratio is presently 60.00%.
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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