Zacks Investment Research cut shares of EQT (NYSE:EQT) from a hold rating to a sell rating in a research note issued to investors on Tuesday.
According to Zacks, “EQT Corporation’s pricing chart is unimpressive and reflects weaknesses over the period of last six months. The company lost 2%, underperforming the industry’s 21.1% increase. Prolonged weakness in natural gas prices are expected to further hamper financials for the company. Eventually the company is paying dividend yield much lesser than industry. EQT is also facing pressure on top line. Over the past three years (2014–2016), total revenues declined at a CAGR of 19.3%. During first nine months of 2017, EQT’s expenses related to transportation and processing activities surged more than 61%. If the trend continues, the company’s revenues might get affected. Additionally, lack of geographical diversification also raises EQT Corporation’s risk profile. As such, we remain concerned about the company’s near-term prospects.”
A number of other equities research analysts have also recently issued reports on the stock. Credit Suisse Group started coverage on shares of EQT in a research report on Monday, December 11th. They issued an outperform rating and a $70.00 target price for the company. Stifel Nicolaus reissued a buy rating and issued a $87.00 target price on shares of EQT in a research report on Thursday, September 14th. SunTrust Banks reissued a hold rating and issued a $65.00 target price on shares of EQT in a research report on Friday, December 8th. Jefferies Group reissued a hold rating and issued a $66.00 target price on shares of EQT in a research report on Tuesday, October 10th. Finally, BMO Capital Markets reissued a buy rating and issued a $75.00 target price on shares of EQT in a research report on Tuesday, December 26th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $76.75.
Shares of EQT (NYSE EQT) traded down $0.24 during trading on Tuesday, hitting $58.46. 3,119,905 shares of the stock were exchanged, compared to its average volume of 2,949,127. The company has a market capitalization of $10,203.94, a PE ratio of 278.39, a PEG ratio of 2.63 and a beta of 0.76. EQT has a 52 week low of $49.63 and a 52 week high of $67.84. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.60 and a current ratio of 0.60.
EQT (NYSE:EQT) last announced its earnings results on Thursday, October 26th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.17. The company had revenue of $660.30 million during the quarter, compared to analysts’ expectations of $667.05 million. EQT had a net margin of 1.39% and a return on equity of 1.61%. EQT’s quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.26) earnings per share. equities analysts anticipate that EQT will post 0.86 EPS for the current year.
In related news, Chairman David L. Porges sold 53,760 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $59.14, for a total transaction of $3,179,366.40. Following the completion of the sale, the chairman now owns 438,601 shares of the company’s stock, valued at $25,938,863.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas F. Karam acquired 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were purchased at an average cost of $59.26 per share, with a total value of $592,600.00. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $1,185,200. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Aureus Asset Management LLC acquired a new position in EQT during the second quarter worth about $205,000. Pinebridge Investments L.P. acquired a new position in EQT during the second quarter worth about $212,000. Zeke Capital Advisors LLC acquired a new position in EQT during the third quarter worth about $212,000. D.A. Davidson & CO. raised its stake in EQT by 14.2% during the second quarter. D.A. Davidson & CO. now owns 5,801 shares of the oil and gas producer’s stock worth $339,000 after acquiring an additional 721 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in EQT by 83.3% during the third quarter. SG Americas Securities LLC now owns 11,763 shares of the oil and gas producer’s stock worth $767,000 after acquiring an additional 5,347 shares in the last quarter. 90.54% of the stock is owned by institutional investors and hedge funds.
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EQT Company Profile
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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