EQT Corporation (EQT) Raised to Buy at Seaport Global Securities
Seaport Global Securities upgraded shares of EQT Corporation (NYSE:EQT) from a neutral rating to a buy rating in a research note issued to investors on Tuesday morning, MarketBeat.com reports. Seaport Global Securities currently has $79.00 target price on the oil and gas producer’s stock, up from their prior target price of $57.00. Seaport Global Securities also issued estimates for EQT Corporation’s Q3 2017 earnings at ($0.17) EPS, Q4 2017 earnings at $0.25 EPS, FY2017 earnings at $0.58 EPS, Q1 2018 earnings at $0.39 EPS, Q2 2018 earnings at $0.23 EPS, Q3 2018 earnings at $0.18 EPS, Q4 2018 earnings at $0.46 EPS and FY2018 earnings at $1.26 EPS.
Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus restated a buy rating and issued a $87.00 target price on shares of EQT Corporation in a report on Thursday, September 14th. Cowen and Company reaffirmed a buy rating and issued a $80.00 price target on shares of EQT Corporation in a research note on Tuesday, September 12th. BMO Capital Markets reissued a buy rating and set a $75.00 price objective on shares of EQT Corporation in a research report on Friday, September 1st. Scotiabank set a $79.00 price objective on EQT Corporation and gave the company a buy rating in a research report on Tuesday, August 22nd. Finally, Morgan Stanley raised their price objective on EQT Corporation from $56.00 to $60.00 and gave the company an equal weight rating in a research report on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $79.25.
EQT Corporation (NYSE:EQT) traded up 0.28% during trading on Tuesday, reaching $65.24. 2,628,981 shares of the company’s stock traded hands. The company’s 50 day moving average is $62.14 and its 200-day moving average is $59.79. EQT Corporation has a 52-week low of $49.63 and a 52-week high of $75.74. The stock has a market cap of $11.31 billion, a price-to-earnings ratio of 2330.00 and a beta of 0.79.
EQT Corporation (NYSE:EQT) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas producer reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.01. The company had revenue of $631.10 million for the quarter, compared to analysts’ expectations of $642.21 million. EQT Corporation had a net margin of 0.20% and a return on equity of 0.91%. EQT Corporation’s revenue for the quarter was up 720.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.35) earnings per share. On average, analysts anticipate that EQT Corporation will post $0.92 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 11th were given a $0.03 dividend. The ex-dividend date was Wednesday, August 9th. This represents a $0.12 annualized dividend and a dividend yield of 0.18%. EQT Corporation’s dividend payout ratio (DPR) is presently 400.13%.
Institutional investors have recently made changes to their positions in the stock. UBS Asset Management Americas Inc. increased its stake in EQT Corporation by 10.1% during the first quarter. UBS Asset Management Americas Inc. now owns 435,429 shares of the oil and gas producer’s stock worth $26,605,000 after acquiring an additional 39,811 shares during the last quarter. State of Wisconsin Investment Board grew its stake in shares of EQT Corporation by 25.6% in the first quarter. State of Wisconsin Investment Board now owns 102,791 shares of the oil and gas producer’s stock valued at $6,281,000 after buying an additional 20,948 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in shares of EQT Corporation by 0.3% in the first quarter. Mutual of America Capital Management LLC now owns 21,438 shares of the oil and gas producer’s stock valued at $1,310,000 after buying an additional 58 shares in the last quarter. Oxford Asset Management acquired a new stake in shares of EQT Corporation in the first quarter valued at $322,000. Finally, Mason Street Advisors LLC grew its stake in shares of EQT Corporation by 1.4% in the first quarter. Mason Street Advisors LLC now owns 23,953 shares of the oil and gas producer’s stock valued at $1,464,000 after buying an additional 320 shares in the last quarter. 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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