EQT Corporation (NYSE:EQT) Given “Average” Rating at Scotiabank
EQT Corporation (NYSE:EQT)‘s stock had its “average” rating reaffirmed by analysts at Scotiabank in a research report issued on Wednesday, October 4th. They presently have a $79.00 price target on the oil and gas producer’s stock. Scotiabank’s price target indicates a potential upside of 25.38% from the company’s previous close.
A number of other equities research analysts have also recently issued reports on the company. TheStreet upgraded EQT Corporation from a “d+” rating to a “c-” rating in a research note on Monday, August 14th. BMO Capital Markets set a $70.00 target price on EQT Corporation and gave the company a “buy” rating in a research note on Friday, July 28th. Royal Bank Of Canada reiterated a “hold” rating and issued a $78.00 target price on shares of EQT Corporation in a research note on Thursday, July 20th. KLR Group reiterated a “buy” rating and issued a $102.00 target price (up from $101.00) on shares of EQT Corporation in a research note on Sunday, July 30th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $87.00 target price on shares of EQT Corporation in a research note on Thursday, September 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $79.45.
EQT Corporation (NYSE:EQT) traded down 0.76% during midday trading on Wednesday, reaching $63.01. 2,093,709 shares of the company were exchanged. The company has a market capitalization of $10.92 billion, a PE ratio of 2250.36 and a beta of 0.77. The firm has a 50-day moving average price of $63.37 and a 200-day moving average price of $60.57. EQT Corporation has a 52 week low of $49.63 and a 52 week high of $75.74.
EQT Corporation (NYSE:EQT) last announced its quarterly earnings data on Thursday, July 27th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.01. EQT Corporation had a return on equity of 0.91% and a net margin of 0.20%. The firm had revenue of $631.10 million for the quarter, compared to analysts’ expectations of $642.21 million. During the same period last year, the business posted ($0.35) earnings per share. The firm’s revenue for the quarter was up 720.1% on a year-over-year basis. Equities research analysts anticipate that EQT Corporation will post $0.93 earnings per share for the current fiscal year.
In related news, Director A. Bray Jr. Cary bought 406 shares of EQT Corporation stock in a transaction that occurred on Monday, October 2nd. The stock was purchased at an average cost of $65.24 per share, for a total transaction of $26,487.44. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Neuberger Berman Group LLC lifted its holdings in 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 purchasing an additional 270,054 shares during the last quarter. Whittier Trust Co. increased its position in EQT Corporation by 3.6% in the 2nd quarter. Whittier Trust Co. now owns 171,209 shares of the oil and gas producer’s stock worth $10,031,000 after buying an additional 5,872 shares during the period. South Dakota Investment Council bought a new position in EQT Corporation in the 1st quarter worth approximately $354,000. Mitchell Group Inc. increased its position in EQT Corporation by 11.1% in the 2nd quarter. Mitchell Group Inc. now owns 555,569 shares of the oil and gas producer’s stock worth $32,551,000 after buying an additional 55,330 shares during the period. Finally, BlackRock Inc. increased its position in EQT Corporation by 3,346.4% in the 1st quarter. BlackRock Inc. now owns 13,626,409 shares of the oil and gas producer’s stock worth $832,575,000 after buying an additional 13,231,032 shares during the period. Hedge funds and other institutional investors own 90.55% of the company’s stock.
EQT Corporation 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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