Scotiabank upgraded shares of EQT Corporation (NYSE:EQT) from a sector perform rating to an outperform rating in a research report sent to investors on Friday, July 14th. Scotiabank currently has $81.00 target price on the oil and gas producer’s stock, up from their prior target price of $77.00.
A number of other research firms have also commented on EQT. Howard Weil raised EQT Corporation from a sector perform rating to a sector outperform rating in a research note on Friday, July 14th. Stifel Nicolaus boosted their price objective on EQT Corporation from $79.00 to $85.00 and gave the stock a buy rating in a research note on Monday, July 10th. Royal Bank Of Canada lowered EQT Corporation from an outperform rating to a sector perform rating and reduced their price objective for the stock from $86.00 to $80.00 in a research note on Wednesday, July 5th. Jefferies Group LLC reissued a hold rating and issued a $69.00 price objective on shares of EQT Corporation in a research note on Tuesday, July 4th. Finally, KLR Group reissued a buy rating and issued a $102.00 price objective (up previously from $92.00) on shares of EQT Corporation in a research note on Monday, June 26th. Two equities 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. The company currently has a consensus rating of Buy and a consensus price target of $80.38.
Shares of EQT Corporation (NYSE:EQT) traded up 1.82% during midday trading on Friday, reaching $62.78. The company’s stock had a trading volume of 4,378,691 shares. EQT Corporation has a 52-week low of $49.63 and a 52-week high of $75.74. The company has a market capitalization of $10.88 billion, a price-to-earnings ratio of 2242.14 and a beta of 0.77. The stock has a 50 day moving average price of $60.28 and a 200-day moving average price of $59.89.
EQT Corporation (NYSE:EQT) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas producer reported $0.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.01. The business had revenue of $631.10 million for the quarter, compared to analyst estimates of $642.21 million. EQT Corporation had a return on equity of 0.91% and a net margin of 0.20%. EQT Corporation’s quarterly revenue was up 720.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.35) EPS. Equities research analysts expect that EQT Corporation will post $0.99 EPS for the current year.
ILLEGAL ACTIVITY WARNING: This news story was reported by BBNS and is the property of of BBNS. If you are accessing this news story on another publication, it was illegally copied and republished in violation of United States and international trademark and copyright laws. The legal version of this news story can be viewed at https://baseballnewssource.com/markets/eqt-corporation-eqt-rating-increased-to-buy-at-scotiabank-updated-updated-updated/1194753.html.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 11th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.12 dividend on an annualized basis and a yield of 0.19%. EQT Corporation’s dividend payout ratio is presently 400.13%.
In related news, CEO Steven T. Schlotterbeck acquired 2,000 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was acquired at an average price of $52.14 per share, for a total transaction of $104,280.00. Following the completion of the acquisition, the chief executive officer now owns 115,178 shares of the company’s stock, valued at approximately $6,005,380.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director A. Bray Jr. Cary acquired 28,000 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The stock was bought at an average price of $53.55 per share, with a total value of $1,499,400.00. Following the acquisition, the director now directly owns 22,627 shares of the company’s stock, valued at approximately $1,211,675.85. The disclosure for this purchase can be found here. Insiders purchased 41,901 shares of company stock valued at $2,211,775 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Cleararc Capital Inc. increased its stake in EQT Corporation by 0.9% in the first quarter. Cleararc Capital Inc. now owns 4,248 shares of the oil and gas producer’s stock worth $260,000 after buying an additional 37 shares in the last quarter. Shell Asset Management Co. boosted its position in EQT Corporation by 0.3% in the first quarter. Shell Asset Management Co. now owns 16,575 shares of the oil and gas producer’s stock worth $1,013,000 after buying an additional 52 shares during the last quarter. Advantus Capital Management Inc boosted its position in EQT Corporation by 0.3% in the first quarter. Advantus Capital Management Inc now owns 17,317 shares of the oil and gas producer’s stock worth $1,058,000 after buying an additional 53 shares during the last quarter. Mutual of America Capital Management LLC boosted its position in EQT Corporation by 0.3% in the first quarter. Mutual of America Capital Management LLC now owns 21,438 shares of the oil and gas producer’s stock worth $1,310,000 after buying an additional 58 shares during the last quarter. Finally, Cadence Capital Management LLC boosted its position in EQT Corporation by 1.1% in the first quarter. Cadence Capital Management LLC now owns 6,037 shares of the oil and gas producer’s stock worth $369,000 after buying an additional 64 shares during the last quarter. Institutional investors and hedge funds own 90.45% of the company’s stock.
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.
Receive News & Ratings for EQT Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQT Corporation and related companies with our FREE daily email newsletter.