EQT’s (EQT) Hold Rating Reaffirmed at SunTrust Banks
SunTrust Banks restated their hold rating on shares of EQT (NYSE:EQT) in a report issued on Friday morning, Marketbeat Ratings reports. SunTrust Banks currently has a $65.00 target price on the oil and gas producer’s stock.
Other research analysts have also recently issued research reports about the stock. TheStreet upgraded shares of EQT from a d+ rating to a c- rating in a report on Monday, August 14th. BMO Capital Markets set a $75.00 target price on shares of EQT and gave the stock a buy rating in a report on Tuesday, October 10th. Stifel Nicolaus reiterated a buy rating and issued a $87.00 price target on shares of EQT in a report on Thursday, September 14th. Cowen set a $80.00 price target on shares of EQT and gave the company a buy rating in a report on Wednesday, October 18th. Finally, BidaskClub cut shares of EQT from a buy rating to a hold rating in a report on Thursday, August 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. EQT has a consensus rating of Buy and a consensus target price of $77.91.
EQT (EQT) opened at $57.13 on Friday. The company has a market cap of $9,800.65, a P/E ratio of 64.81, a price-to-earnings-growth ratio of 4.42 and a beta of 0.76. EQT has a one year low of $49.63 and a one year high of $74.99. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.60 and a current ratio of 0.60.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 10th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date of this dividend was Thursday, November 9th. EQT’s dividend payout ratio (DPR) is presently 57.15%.
In other EQT news, Director A. Bray Jr. Cary bought 406 shares of the company’s stock in a transaction dated 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 purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman David L. Porges sold 53,760 shares of EQT stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $59.14, for a total value of $3,179,366.40. Following the completion of the transaction, the chairman now directly owns 438,601 shares of the company’s stock, valued at approximately $25,938,863.14. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of EQT. Cramer Rosenthal Mcglynn LLC purchased a new position in shares of EQT in the 3rd quarter worth about $19,261,000. Neuberger Berman Group LLC raised its position in shares of EQT by 13.1% in the 2nd quarter. Neuberger Berman Group LLC now owns 2,328,251 shares of the oil and gas producer’s stock worth $136,412,000 after purchasing an additional 270,054 shares during the last quarter. Wedge Capital Management L L P NC raised its position in shares of EQT by 6.1% in the 2nd quarter. Wedge Capital Management L L P NC now owns 3,142,162 shares of the oil and gas producer’s stock worth $184,099,000 after purchasing an additional 181,277 shares during the last quarter. State of Tennessee Treasury Department raised its position in shares of EQT by 22.5% in the 3rd quarter. State of Tennessee Treasury Department now owns 821,326 shares of the oil and gas producer’s stock worth $53,584,000 after purchasing an additional 150,856 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. purchased a new position in shares of EQT in the 2nd quarter worth about $4,142,000. 90.55% of the stock is owned by hedge funds and other institutional investors.
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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