ValuEngine Downgrades EQT (EQT) to Strong Sell

EQT (NYSE:EQT) was downgraded by ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued on Wednesday.

EQT has been the subject of several other reports. Morgan Stanley upped their price target on shares of EQT from $55.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, April 27th. JPMorgan Chase & Co. set a $70.00 price target on shares of EQT and gave the company a “buy” rating in a research report on Wednesday, June 13th. Stifel Nicolaus assumed coverage on shares of EQT in a research report on Wednesday, May 23rd. They set a “buy” rating and a $65.00 price objective for the company. TheStreet cut shares of EQT from a “c” rating to a “d+” rating in a research report on Monday, April 30th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $57.00 price objective on shares of EQT in a research report on Monday, March 19th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $72.79.

Shares of EQT stock opened at $54.97 on Wednesday. The stock has a market cap of $14.47 billion, a P/E ratio of 37.39, a P/E/G ratio of 1.74 and a beta of 0.69. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. EQT has a 52 week low of $43.70 and a 52 week high of $67.84.

EQT (NYSE:EQT) last announced its earnings results on Thursday, April 26th. The oil and gas producer reported $1.01 EPS for the quarter, topping the consensus estimate of $0.99 by $0.02. EQT had a negative net margin of 6.17% and a positive return on equity of 3.45%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the firm posted $0.43 EPS. EQT’s revenue was up 60.3% compared to the same quarter last year. research analysts forecast that EQT will post 2.09 EPS for the current year.

In related news, insider Robert Joseph Mcnally bought 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 6th. The shares were acquired at an average cost of $51.18 per share, with a total value of $204,720.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.68% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Assetmark Inc. grew its holdings in EQT by 445.1% during the 4th quarter. Assetmark Inc. now owns 2,284 shares of the oil and gas producer’s stock valued at $130,000 after buying an additional 1,865 shares in the last quarter. Mount Yale Investment Advisors LLC purchased a new stake in EQT in the 1st quarter valued at $191,000. Virtu Financial LLC purchased a new stake in EQT in the 4th quarter valued at $220,000. Fulton Bank N.A. purchased a new stake in EQT in the 1st quarter valued at $245,000. Finally, Rampart Investment Management Company LLC grew its holdings in EQT by 81.2% in the 1st quarter. Rampart Investment Management Company LLC now owns 5,321 shares of the oil and gas producer’s stock valued at $253,000 after buying an additional 2,384 shares in the last quarter. 88.97% of the stock is currently owned by institutional investors and hedge funds.

About EQT

EQT Corporation, together with its subsidiaries, operates in natural gas industry in the United States. Its EQT Production segment produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2017, this segment operated 21.4 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 4.0 million gross acres comprising approximately 1.1 million gross acres.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for EQT (NYSE:EQT)

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