Jefferies Group Comments on EQT Corporation’s Q3 2017 Earnings (EQT)
EQT Corporation (NYSE:EQT) – Stock analysts at Jefferies Group dropped their Q3 2017 earnings per share estimates for EQT Corporation in a research note issued on Tuesday. Jefferies Group analyst Z. Parham now anticipates that the oil and gas producer will post earnings per share of $0.11 for the quarter, down from their previous estimate of $0.17. Jefferies Group currently has a “Hold” rating and a $69.00 target price on the stock. Jefferies Group also issued estimates for EQT Corporation’s FY2017 earnings at $1.15 EPS, Q1 2018 earnings at $0.73 EPS, Q2 2018 earnings at $0.40 EPS, Q3 2018 earnings at $0.47 EPS and FY2018 earnings at $2.41 EPS.
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. EQT Corporation had a net margin of 0.20% and a return on equity of 0.91%. The company had revenue of $631.10 million during the quarter, compared to analysts’ expectations of $642.21 million. During the same period in the prior year, the company posted ($0.35) earnings per share. EQT Corporation’s revenue for the quarter was up 720.1% compared to the same quarter last year.
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Other research analysts have also recently issued research reports about the stock. Scotiabank set a $77.00 price target on shares of EQT Corporation and gave the stock a “hold” rating in a research note on Saturday, July 1st. TheStreet upgraded shares of EQT Corporation from a “d+” rating to a “c-” rating in a research report on Monday, August 14th. Scotia Howard Weill upgraded shares of EQT Corporation from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, July 14th. Royal Bank Of Canada restated a “hold” rating and issued a $78.00 price objective on shares of EQT Corporation in a research report on Thursday, July 20th. Finally, BMO Capital Markets set a $70.00 target price on shares of EQT Corporation and gave the stock a “buy” rating in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $79.75.
Shares of EQT Corporation (NYSE:EQT) opened at 61.18 on Wednesday. The firm has a market capitalization of $10.60 billion, a PE ratio of 2185.00 and a beta of 0.77. EQT Corporation has a 12-month low of $49.63 and a 12-month high of $75.74. The firm has a 50-day moving average of $62.13 and a 200-day moving average of $59.72.
A number of hedge funds have recently made changes to their positions in EQT. Whittier Trust Co. raised its stake in EQT Corporation by 3.6% in the second quarter. Whittier Trust Co. now owns 171,209 shares of the oil and gas producer’s stock valued at $10,031,000 after buying an additional 5,872 shares during the period. South Dakota Investment Council purchased a new position in shares of EQT Corporation during the first quarter valued at approximately $354,000. Knights of Columbus Asset Advisors LLC purchased a new position in shares of EQT Corporation during the first quarter valued at approximately $760,000. BlackRock Inc. boosted its position in shares of EQT Corporation by 3,346.4% in the first quarter. BlackRock Inc. now owns 13,626,409 shares of the oil and gas producer’s stock valued at $832,575,000 after buying an additional 13,231,032 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of EQT Corporation by 9.9% in the first quarter. Clearbridge Investments LLC now owns 20,969 shares of the oil and gas producer’s stock valued at $1,281,000 after buying an additional 1,890 shares in the last quarter. 90.55% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director A. Bray Jr. Cary acquired 28,000 shares of the stock in a transaction on Friday, June 23rd. The shares were acquired at an average price of $53.55 per share, with a total value of $1,499,400.00. Following the completion of the transaction, the director now owns 22,627 shares in the company, valued at approximately $1,211,675.85. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David E. Jr. Schlosser acquired 10,000 shares of the stock in a transaction on Thursday, June 22nd. The stock was bought at an average cost of $50.96 per share, for a total transaction of $509,600.00. The disclosure for this purchase can be found here. Insiders have purchased 41,901 shares of company stock worth $2,211,775 over the last three months. 1.00% of the stock is owned by insiders.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 11th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date is Wednesday, August 9th. EQT Corporation’s payout ratio is currently 400.13%.
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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