Seaport Global Securities Weighs in on EQT Corporation’s Q2 2018 Earnings (EQT)
EQT Corporation (NYSE:EQT) – Stock analysts at Seaport Global Securities lowered their Q2 2018 EPS estimates for shares of EQT in a report issued on Tuesday. Seaport Global Securities analyst M. Kelly now forecasts that the oil and gas producer will post earnings per share of $0.19 for the quarter, down from their prior estimate of $0.23. Seaport Global Securities currently has a “Buy” rating and a $79.00 target price on the stock. Seaport Global Securities also issued estimates for EQT’s Q4 2018 earnings at $0.34 EPS.
Several other analysts have also recently weighed in on the stock. Morgan Stanley reiterated an “equal weight” rating and issued a $64.00 price objective on shares of EQT in a research note on Thursday, December 14th. Credit Suisse Group initiated coverage on shares of EQT in a report on Monday, December 11th. They issued an “outperform” rating and a $70.00 target price on the stock. SunTrust Banks reissued a “hold” rating and issued a $65.00 target price on shares of EQT in a report on Friday, December 8th. BMO Capital Markets reissued a “buy” rating and issued a $75.00 target price on shares of EQT in a report on Tuesday, November 14th. Finally, Cowen set a $80.00 target price on shares of EQT and gave the company a “buy” rating in a report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. EQT has a consensus rating of “Buy” and an average price target of $77.25.
EQT (NYSE:EQT) last issued its quarterly earnings data on Thursday, October 26th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.17. EQT had a net margin of 1.39% and a return on equity of 1.61%. The business had revenue of $660.30 million during the quarter, compared to analysts’ expectations of $667.05 million. During the same quarter in the previous year, the company earned ($0.26) EPS. The business’s revenue was up 18.6% on a year-over-year basis.
Several institutional investors have recently made changes to their positions in EQT. Aureus Asset Management LLC bought a new stake in shares of EQT during the 2nd quarter valued at approximately $205,000. Zeke Capital Advisors LLC bought a new stake in shares of EQT during the 3rd quarter valued at approximately $212,000. Pinebridge Investments L.P. bought a new stake in shares of EQT during the 2nd quarter valued at approximately $212,000. D.A. Davidson & CO. grew its holdings in shares of EQT by 14.2% during the 2nd quarter. D.A. Davidson & CO. now owns 5,801 shares of the oil and gas producer’s stock valued at $339,000 after purchasing an additional 721 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of EQT by 83.3% during the 3rd quarter. SG Americas Securities LLC now owns 11,763 shares of the oil and gas producer’s stock valued at $767,000 after purchasing an additional 5,347 shares during the last quarter. 90.54% of the stock is currently owned by institutional investors.
In related news, Director A. Bray Jr. Cary purchased 406 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were bought at an average cost of $65.24 per share, with a total value of $26,487.44. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman David L. Porges sold 53,760 shares of EQT stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $59.14, for a total transaction of $3,179,366.40. Following the sale, the chairman now directly owns 438,601 shares in the company, valued at $25,938,863.14. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 10th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.22%. The ex-dividend date was Thursday, November 9th. EQT’s dividend payout ratio is currently 57.15%.
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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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