EQT (NYSE:EQT) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research downgraded shares of EQT (NYSE:EQT) from a hold rating to a strong sell rating in a report published on Tuesday,Zacks.com reports.

A number of other research analysts also recently issued reports on EQT. Jefferies Financial Group dropped their target price on shares of EQT from $77.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Weiss Ratings cut shares of EQT from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Truist Financial decreased their price target on shares of EQT from $74.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. Morgan Stanley dropped their price objective on shares of EQT from $74.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, June 26th. Finally, The Goldman Sachs Group cut their price objective on shares of EQT from $65.00 to $63.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.08.

EQT Trading Up 1.8%

Shares of EQT stock opened at $52.58 on Tuesday. EQT has a twelve month low of $47.94 and a twelve month high of $68.24. The stock’s fifty day simple moving average is $52.48 and its 200 day simple moving average is $56.48. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $32.89 billion, a P/E ratio of 12.20 and a beta of 0.55.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.76 billion. EQT had a net margin of 28.44% and a return on equity of 9.31%. EQT’s revenue for the quarter was down 29.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.45 earnings per share. As a group, sell-side analysts predict that EQT will post 4.08 EPS for the current fiscal year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 5th will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $0.66 annualized dividend and a dividend yield of 1.3%. EQT’s payout ratio is presently 15.31%.

Insider Buying and Selling at EQT

In related news, CEO Toby Z. Rice sold 1,731 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $53.46, for a total value of $92,539.26. Following the sale, the chief executive officer owned 2,333,193 shares in the company, valued at $124,732,497.78. This represents a 0.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.72% of the stock is owned by corporate insiders.

Institutional Trading of EQT

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Valeo Financial Advisors LLC lifted its holdings in shares of EQT by 18.6% in the second quarter. Valeo Financial Advisors LLC now owns 13,159 shares of the oil and gas producer’s stock valued at $700,000 after purchasing an additional 2,060 shares in the last quarter. Miller Global Investments LLC grew its holdings in EQT by 3,066.4% during the second quarter. Miller Global Investments LLC now owns 7,916 shares of the oil and gas producer’s stock worth $421,000 after buying an additional 7,666 shares in the last quarter. Parallel Advisors LLC raised its position in EQT by 4.7% in the 1st quarter. Parallel Advisors LLC now owns 19,965 shares of the oil and gas producer’s stock valued at $1,271,000 after buying an additional 890 shares during the last quarter. Glenmede Trust Co. NA raised its position in EQT by 112.2% in the 1st quarter. Glenmede Trust Co. NA now owns 40,189 shares of the oil and gas producer’s stock valued at $2,558,000 after buying an additional 21,249 shares during the last quarter. Finally, Montchanin Asset Management LLC bought a new position in EQT during the 1st quarter valued at $260,000. 90.81% of the stock is owned by institutional investors.

Key Headlines Impacting EQT

Here are the key news stories impacting EQT this week:

• Positive Sentiment: Citigroup maintains a Buy rating. Citi lowered its price target from $70 to $67 but still implies substantial upside from current levels, signaling continued confidence in EQT’s valuation and natural-gas outlook. Citi Keeps Their Buy Rating on EQT
• Positive Sentiment: Long-term gas demand is becoming a central investment thesis. EQT is positioning its production and infrastructure to benefit from data-center electricity demand, power contracts, pipeline expansion and global LNG growth. This could improve demand visibility over time, although near-term execution remains important. How EQT Is Positioning for Data Center, Power & Global LNG Demand
• Positive Sentiment: Energy-sector rotation is providing a relative boost. Some investors are shifting capital away from technology stocks after an AI-related selloff and toward energy companies, with EQT identified as a favored natural-gas name. Stocks Standing Out as the Tech Rally Cracks
• Neutral Sentiment: Several headlines concern EQT AB, not EQT Corporation. EQT AB is selling Quantios and is pursuing a bid for Australia’s Perpetual. These private-equity transactions do not directly affect NYSE-listed EQT Corporation’s operating results or valuation and may create headline confusion. EQT to Sell Quantios Perpetual Rejects EQT Takeover Offer
• Negative Sentiment: Fundamentals remain a constraint. EQT recently missed quarterly EPS and revenue expectations, while revenue declined year over year. The lower Citi target also reflects more measured near-term expectations despite the retained Buy rating.

About EQT

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.