EQT Corporation (NYSE:EQT) had its price target upped by Morgan Stanley from $60.00 to $64.00 in a report issued on Wednesday, October 18th. Morgan Stanley currently has an equal weight rating on the oil and gas producer’s stock.
Several other brokerages have also commented on EQT. Jefferies Group LLC reiterated a hold rating and issued a $69.00 target price on shares of EQT Corporation in a research report on Tuesday, July 4th. Scotia Howard Weill upgraded EQT Corporation from a sector perform rating to a sector outperform rating in a research report on Friday, July 14th. Stifel Nicolaus restated a buy rating and set a $87.00 price objective on shares of EQT Corporation in a research report on Thursday, September 14th. Royal Bank Of Canada restated a hold rating and set a $78.00 price objective on shares of EQT Corporation in a research report on Thursday, July 20th. Finally, BidaskClub lowered EQT Corporation from a buy rating to a hold rating in a research report on Thursday, August 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of Buy and an average target price of $78.09.
Shares of EQT Corporation (EQT) traded up 5.39% on Wednesday, reaching $63.31. 11,653,173 shares of the company’s stock traded hands. The firm has a market capitalization of $10.97 billion, a P/E ratio of 2261.07 and a beta of 0.77. EQT Corporation has a 52 week low of $49.63 and a 52 week high of $75.74. The firm’s 50 day moving average is $63.53 and its 200 day moving average is $60.63.
EQT Corporation (NYSE:EQT) last issued its earnings results on Thursday, October 26th. The oil and gas producer reported $0.12 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.17. The company had revenue of $660.30 million during the quarter, compared to analyst estimates of $667.05 million. EQT Corporation had a return on equity of 1.61% and a net margin of 1.39%. The business’s revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.26) EPS. Analysts expect that EQT Corporation will post $0.84 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date is Thursday, November 9th. EQT Corporation’s dividend payout ratio is presently 57.15%.
In other news, Director A. Bray Jr. Cary acquired 406 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were bought at an average price of $65.24 per share, with a total value of $26,487.44. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of EQT. Point72 Asset Management L.P. bought a new stake in shares of EQT Corporation in the 1st quarter worth $70,942,000. Renaissance Technologies LLC bought a new stake in shares of EQT Corporation in the 1st quarter worth $32,701,000. Aristotle Capital Management LLC raised its stake in shares of EQT Corporation by 8.9% in the 1st quarter. Aristotle Capital Management LLC now owns 3,379,750 shares of the oil and gas producer’s stock worth $206,502,000 after buying an additional 276,368 shares in the last quarter. Neuberger Berman Group LLC raised its stake in shares of EQT Corporation by 13.1% in the 2nd quarter. Neuberger Berman Group LLC now owns 2,328,251 shares of the oil and gas producer’s stock worth $136,412,000 after buying an additional 270,054 shares in the last quarter. Finally, Wedge Capital Management L L P NC raised its stake in shares of EQT Corporation by 6.1% in the 2nd quarter. Wedge Capital Management L L P NC now owns 3,142,162 shares of the oil and gas producer’s stock worth $184,099,000 after buying an additional 181,277 shares in the last quarter. 90.54% of the stock is currently owned by institutional investors.
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.
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