Several other equities analysts have also recently issued reports on the stock. Scotiabank reiterated a sector outperform rating and set a $91.00 price target (down previously from $92.00) on shares of EQT Corp. in a research report on Sunday, July 31st. Howard Weil cut shares of EQT Corp. from a sector outperform rating to a sector perform rating and reduced their price target for the company from $91.00 to $90.00 in a research report on Thursday, August 11th. Stifel Nicolaus upgraded shares of EQT Corp. from a hold rating to a buy rating and set a $87.00 price target on the stock in a research report on Friday, August 26th. Deutsche Bank AG cut shares of EQT Corp. from a buy rating to a hold rating and reduced their price target for the company from $81.00 to $79.00 in a research report on Monday, June 13th. Finally, Jefferies Group boosted their price target on shares of EQT Corp. from $74.00 to $77.00 and gave the company a hold rating in a research report on Friday, July 29th. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. EQT Corp. currently has an average rating of Hold and an average target price of C$78.78.
Shares of EQT Corp. (NYSE:EQT) opened at 69.55 on Wednesday. The stock’s market cap is $12.01 billion. EQT Corp. has a 52 week low of $47.10 and a 52 week high of $80.61. The stock’s 50 day moving average is $71.45 and its 200 day moving average is $71.34.
EQT Corp. (NYSE:EQT) last announced its quarterly earnings results on Thursday, July 28th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.06. EQT Corp. had a negative net margin of 18.74% and a negative return on equity of 1.27%. The company had revenue of $127.53 million for the quarter, compared to analysts’ expectations of $461.53 million. During the same quarter in the previous year, the company earned ($0.06) earnings per share. EQT Corp.’s quarterly revenue was down 71.0% on a year-over-year basis. On average, equities analysts forecast that EQT Corp. will post ($0.62) EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 12th were given a dividend of $0.03 per share. The ex-dividend date was Wednesday, August 10th. This represents a $0.12 dividend on an annualized basis and a yield of 0.17%. EQT Corp.’s dividend payout ratio (DPR) is -5.66%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Boston Partners increased its position in shares of EQT Corp. by 89.9% in the second quarter. Boston Partners now owns 6,902,638 shares of the company’s stock worth $534,471,000 after buying an additional 3,268,060 shares during the period. Davis Selected Advisers acquired a new stake in shares of EQT Corp. during the second quarter worth approximately $189,106,000. Vanguard Group Inc. boosted its stake in shares of EQT Corp. by 10.4% in the second quarter. Vanguard Group Inc. now owns 15,983,499 shares of the company’s stock worth $1,237,603,000 after buying an additional 1,508,708 shares in the last quarter. Cohen & Steers Inc. acquired a new stake in shares of EQT Corp. during the second quarter worth approximately $14,814,000. Finally, Norges Bank acquired a new stake in shares of EQT Corp. during the fourth quarter worth approximately $60,141,000. Institutional investors own 87.73% of the company’s stock.
About EQT Corp.
EQT Corporation (EQT) is an energy company. The Company operates through two business segments: EQT Production and EQT Midstream. EQT Production is a natural gas producer in the Appalachian Basin with over 10 trillion cubic feet equivalent (Tcfe) of natural gas, natural gas liquid (NGL) and crude oil reserves across approximately 3.4 million acres, including approximately 630,000 gross acres in the Marcellus play.
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