EQT Co. (NYSE:EQT)’s share price dropped 5.3% during trading on Wednesday . The stock traded as low as $44.40 and last traded at $44.44. Approximately 3,459,800 shares changed hands during mid-day trading, an increase of 10% from the average daily volume of 3,136,030 shares. The stock had previously closed at $46.93.

EQT has been the topic of several recent analyst reports. ValuEngine upgraded shares of EQT from a “sell” rating to a “hold” rating in a research note on Wednesday, June 20th. Jefferies Financial Group set a $52.00 price objective on EQT and gave the company a “hold” rating in a report on Tuesday, September 18th. Goldman Sachs Group assumed coverage on EQT in a report on Monday, September 17th. They issued a “neutral” rating and a $54.00 price objective for the company. LADENBURG THALM/SH SH set a $70.00 price objective on EQT and gave the company a “buy” rating in a report on Friday, August 17th. Finally, Morgan Stanley set a $45.00 price objective on EQT and gave the company a “hold” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $67.40.

The firm has a market cap of $12.35 billion, a price-to-earnings ratio of 31.05, a P/E/G ratio of 1.40 and a beta of 0.60. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.76 and a quick ratio of 0.76.

EQT (NYSE:EQT) last posted its quarterly earnings data on Thursday, July 26th. The oil and gas producer reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.07. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.13 billion. EQT had a positive return on equity of 3.73% and a negative net margin of 6.19%. The company’s revenue was up 53.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 earnings per share. research analysts anticipate that EQT Co. will post 2.22 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Saturday, September 1st. Investors of record on Friday, August 10th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.27%. The ex-dividend date was Thursday, August 9th. EQT’s dividend payout ratio is presently 8.16%.

In related news, Director Kenneth Michael Burke purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 9th. The stock was purchased at an average cost of $50.20 per share, with a total value of $251,000.00. Following the completion of the acquisition, the director now directly owns 5,000 shares in the company, valued at $251,000. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.68% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of EQT. Iridian Asset Management LLC CT acquired a new stake in shares of EQT during the second quarter worth $195,704,000. Sound Shore Management Inc. CT acquired a new stake in shares of EQT during the second quarter worth $177,755,000. Canyon Capital Advisors LLC lifted its holdings in shares of EQT by 115.1% during the first quarter. Canyon Capital Advisors LLC now owns 5,031,000 shares of the oil and gas producer’s stock worth $239,023,000 after purchasing an additional 2,691,650 shares during the period. Scopia Capital Management LP acquired a new stake in shares of EQT during the second quarter worth $102,772,000. Finally, Nomura Holdings Inc. lifted its holdings in shares of EQT by 182,853.9% during the second quarter. Nomura Holdings Inc. now owns 1,535,133 shares of the oil and gas producer’s stock worth $84,708,000 after purchasing an additional 1,535,973 shares during the period. 92.42% of the stock is owned by hedge funds and other institutional investors.

About EQT (NYSE: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.

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