EQT Corporation (EQT) PT Set at $79.00 by Royal Bank Of Canada
Royal Bank Of Canada set a $79.00 price objective on EQT Corporation (NYSE:EQT) in a research report sent to investors on Friday morning. The brokerage currently has a hold rating on the oil and gas producer’s stock.
Several other analysts also recently commented on EQT. Scotiabank set a $77.00 target price on shares of EQT Corporation and gave the stock a hold rating in a research report on Saturday, July 1st. BMO Capital Markets set a $70.00 target price on shares of EQT Corporation and gave the stock a buy rating in a research report on Friday. Scotia Howard Weill raised shares of EQT Corporation from a sector perform rating to a sector outperform rating in a research report on Friday, July 14th. Jefferies Group LLC set a $66.00 target price on shares of EQT Corporation and gave the stock a hold rating in a research report on Monday, May 1st. Finally, Stifel Nicolaus reissued a buy rating and issued a $81.00 target price (up from $63.00) on shares of EQT Corporation in a research report on Tuesday, May 2nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $80.38.
EQT Corporation (EQT) opened at 63.70 on Friday. The stock has a market cap of $11.04 billion, a P/E ratio of 2275.00 and a beta of 0.76. EQT Corporation has a 52 week low of $49.63 and a 52 week high of $75.74. The stock has a 50 day moving average of $59.67 and a 200-day moving average of $59.82.
EQT Corporation (NYSE:EQT) last announced its quarterly earnings data on Thursday, July 27th. The oil and gas producer reported $0.06 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $631.10 million for the quarter, compared to the consensus estimate of $642.21 million. During the same period in the previous year, the firm posted ($0.35) earnings per share. The firm’s revenue was up 720.1% on a year-over-year basis. Analysts forecast that EQT Corporation will post $1.11 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 11th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.19%. The ex-dividend date of this dividend is Wednesday, August 9th. EQT Corporation’s dividend payout ratio is currently 400.13%.
In other news, insider David E. Jr. Schlosser acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The stock was acquired at an average cost of $50.96 per share, with a total value of $509,600.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director A. Bray Jr. Cary acquired 28,000 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The shares were purchased at an average cost of $53.55 per share, with a total value of $1,499,400.00. Following the completion of the acquisition, the director now owns 22,627 shares in the company, valued at approximately $1,211,675.85. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 41,901 shares of company stock valued at $2,211,775. 1.00% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Point72 Asia Hong Kong Ltd bought a new position in EQT Corporation during the first quarter valued at approximately $110,000. Invictus RG bought a new position in EQT Corporation during the first quarter valued at approximately $119,000. Pacer Advisors Inc. boosted its position in EQT Corporation by 3.1% in the first quarter. Pacer Advisors Inc. now owns 3,255 shares of the oil and gas producer’s stock valued at $199,000 after buying an additional 99 shares during the last quarter. Wetherby Asset Management Inc. bought a new position in EQT Corporation during the first quarter valued at approximately $211,000. Finally, Fisher Asset Management LLC boosted its position in EQT Corporation by 7.0% in the first quarter. Fisher Asset Management LLC now owns 3,474 shares of the oil and gas producer’s stock valued at $212,000 after buying an additional 226 shares during the last quarter. 90.54% of the stock is owned by institutional investors and hedge funds.
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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