EQT Corporation (EQT) Given Average Rating at Scotiabank
Scotiabank restated their average rating on shares of EQT Corporation (NYSE:EQT) in a research note issued to investors on Wednesday morning. They currently have a $79.00 price objective on the oil and gas producer’s stock.
Several other equities analysts have also recently commented on the stock. Seaport Global Securities raised shares of EQT Corporation from a neutral rating to a buy rating and increased their price target for the stock from $57.00 to $79.00 in a research report on Tuesday, September 26th. Stifel Nicolaus reaffirmed a buy rating and set a $87.00 price target on shares of EQT Corporation in a research report on Thursday, September 14th. Cowen and Company reaffirmed a buy rating and set a $80.00 price target on shares of EQT Corporation in a research report on Tuesday, September 12th. BMO Capital Markets reaffirmed a buy rating and set a $75.00 price target on shares of EQT Corporation in a research report on Friday, September 1st. Finally, Morgan Stanley increased their price target on shares of EQT Corporation from $56.00 to $60.00 and gave the stock an equal weight rating in a research report on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of Buy and an average price target of $79.60.
EQT Corporation (NYSE EQT) traded down 2.21% during mid-day trading on Wednesday, hitting $63.61. The stock had a trading volume of 5,028,964 shares. The stock has a market cap of $11.03 billion, a P/E ratio of 2271.79 and a beta of 0.77. The company has a 50 day moving average price of $63.05 and a 200 day moving average price of $60.37. EQT Corporation has a one year low of $49.63 and a one year high of $75.74.
EQT Corporation (NYSE:EQT) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas producer reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. EQT Corporation had a net margin of 0.20% and a return on equity of 0.91%. The business had revenue of $631.10 million for the quarter, compared to analysts’ expectations of $642.21 million. During the same quarter last year, the company posted ($0.35) earnings per share. The company’s quarterly revenue was up 720.1% compared to the same quarter last year. On average, equities analysts anticipate that EQT Corporation will post $0.91 EPS for the current year.
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In other EQT Corporation news, Director A. Bray Jr. Cary acquired 406 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were purchased at an average price of $65.24 per share, for a total transaction of $26,487.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in EQT Corporation by 3.1% during the first quarter. Vanguard Group Inc. now owns 17,207,739 shares of the oil and gas producer’s stock worth $1,051,393,000 after acquiring an additional 522,164 shares during the period. BlackRock Inc. raised its stake in EQT Corporation by 3,346.4% during the first quarter. BlackRock Inc. now owns 13,626,409 shares of the oil and gas producer’s stock worth $832,575,000 after acquiring an additional 13,231,032 shares during the period. State Street Corp raised its stake in EQT Corporation by 13.6% during the first quarter. State Street Corp now owns 10,635,812 shares of the oil and gas producer’s stock worth $649,846,000 after acquiring an additional 1,270,294 shares during the period. OZ Management LP acquired a new stake in EQT Corporation during the first quarter worth about $281,711,000. Finally, Aristotle Capital Management LLC raised its stake in EQT Corporation by 8.9% during the first quarter. Aristotle Capital Management LLC now owns 3,379,750 shares of the oil and gas producer’s stock worth $206,502,000 after acquiring an additional 276,368 shares during the period. Hedge funds and other institutional investors own 90.55% 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.
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