EQT Corporation (NYSE:EQT) Receives $68.10 Consensus Target Price from Analysts

Shares of EQT Corporation (NYSE:EQT) have earned a consensus rating of “Moderate Buy” from the twenty-seven ratings firms that are covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $68.0952.

EQT has been the topic of a number of recent research reports. BMO Capital Markets dropped their target price on EQT from $76.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Wall Street Zen lowered shares of EQT from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of EQT in a report on Thursday, July 30th. UBS Group cut their price objective on shares of EQT from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Wednesday, July 8th. Finally, Zacks Research raised shares of EQT from a “strong sell” rating to a “hold” rating in a report on Thursday, August 27th.

EQT News Summary

Here are the key news stories impacting EQT this week:

• Positive Sentiment: Analysts at Zacks reportedly increased their earnings estimates for EQT Corporation, a potentially supportive signal for the stock if the revisions reflect improving natural-gas market expectations or company-specific fundamentals. Zacks Research Brokers Boost Earnings Estimates for EQT
• Neutral Sentiment: EQT AB agreed to acquire a majority stake in specialty insurance and reinsurance broker McGill and Partners from Warburg Pincus for approximately $2 billion. McGill’s founder and CEO Steve McGill will continue to lead the business, while existing management and employees will retain significant ownership. Because this is an EQT AB private-equity transaction—not a deal by EQT Corporation—it should not directly affect the NYSE-listed energy producer’s earnings, assets, or valuation. EQT to acquire McGill and Partners
• Neutral Sentiment: Additional coverage of the McGill transaction describes it as part of private equity’s broader expansion into insurance brokerage. The repeated headlines may create ticker-name confusion, but they provide no new catalyst for EQT Corporation. EQT strikes $2bn deal for insurance broker McGill
• Negative Sentiment: A separate report says EQT is considering a fund-to-fund transfer involving AIG Hospitals, another EQT AB portfolio company. This is also unrelated to EQT Corporation and is unlikely to explain movement in EQT shares. EQT planning fund-to-fund transfer for AIG Hospitals

Insider Buying and Selling at EQT

In other news, CEO Toby Rice sold 175,328 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $55.03, for a total value of $9,648,299.84. Following the completion of the transaction, the chief executive officer owned 2,157,865 shares of the company’s stock, valued at $118,747,310.95. The trade was a 7.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.72% of the company’s stock.

Institutional Trading of EQT

Several hedge funds and other institutional investors have recently bought and sold shares of EQT. Greykasell Wealth Strategies Inc. acquired a new position in EQT in the fourth quarter valued at approximately $26,000. Meeder Asset Management Inc. purchased a new stake in EQT in the 2nd quarter worth approximately $26,000. Wedbush Fund Advisers LLC grew its stake in shares of EQT by 251.8% during the 2nd quarter. Wedbush Fund Advisers LLC now owns 577 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 413 shares during the period. Continuum Advisory LLC acquired a new stake in shares of EQT during the 2nd quarter worth approximately $32,000. Finally, Gables Capital Management Inc. purchased a new position in shares of EQT during the 2nd quarter valued at approximately $37,000. 90.81% of the stock is owned by institutional investors and hedge funds.

EQT Stock Performance

Shares of EQT opened at $55.11 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a 50-day moving average of $52.67 and a two-hundred day moving average of $56.33. The stock has a market cap of $34.47 billion, a P/E ratio of 12.79 and a beta of 0.58. EQT has a one year low of $47.94 and a one year high of $68.24.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). EQT had a net margin of 28.44% and a return on equity of 9.31%. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the company posted $0.45 earnings per share. The firm’s revenue for the quarter was down 29.2% on a year-over-year basis. As a group, research analysts predict that EQT will post 3.96 EPS for the current year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 5th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, August 5th. EQT’s dividend payout ratio (DPR) is currently 15.31%.

About EQT

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.