Investors Buy Shares of EQT Corporation (EQT) on Weakness
Investors bought shares of EQT Corporation (NYSE:EQT) on weakness during trading on Thursday. $30.88 million flowed into the stock on the tick-up and $21.78 million flowed out of the stock on the tick-down, for a money net flow of $9.10 million into the stock. Of all stocks tracked, EQT Corporation had the 17th highest net in-flow for the day. EQT Corporation traded down ($0.21) for the day and closed at $59.30
A number of analysts have commented on EQT shares. BMO Capital Markets set a $70.00 price objective on shares of EQT Corporation and gave the company a “buy” rating in a report on Friday, July 28th. Royal Bank Of Canada set a $79.00 price objective on shares of EQT Corporation and gave the company a “hold” rating in a report on Friday, July 28th. KLR Group reiterated a “buy” rating and issued a $102.00 price objective (up previously from $101.00) on shares of EQT Corporation in a report on Sunday, July 30th. TheStreet upgraded shares of EQT Corporation from a “d+” rating to a “c-” rating in a report on Monday, August 14th. Finally, BidaskClub downgraded shares of EQT Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. EQT Corporation currently has an average rating of “Buy” and an average price target of $78.09.
The company has a debt-to-equity ratio of 0.29, a current ratio of 0.60 and a quick ratio of 0.60. The firm has a market capitalization of $10,240.00, a PE ratio of 69.65, a price-to-earnings-growth ratio of 4.72 and a beta of 0.79.
EQT Corporation (NYSE:EQT) last posted its quarterly earnings data on Thursday, October 26th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.17. The firm had revenue of $660.30 million during the quarter, compared to analysts’ expectations of $667.05 million. EQT Corporation had a net margin of 1.39% and a return on equity of 1.61%. The firm’s quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.26) EPS. research analysts anticipate that EQT Corporation will post 0.86 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.20%. EQT Corporation’s payout ratio is currently 60.00%.
In other EQT Corporation news, Director A. Bray Jr. Cary purchased 406 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was bought at an average price of $65.24 per share, with a total value of $26,487.44. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Thomas F. Karam purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was acquired at an average cost of $59.26 per share, with a total value of $592,600.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at $1,185,200. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Wedge Capital Management L L P NC boosted its position in EQT Corporation 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 valued at $184,099,000 after buying an additional 181,277 shares during the period. Neuberger Berman Group LLC boosted its position in EQT Corporation 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 valued at $136,412,000 after buying an additional 270,054 shares during the period. State of Tennessee Treasury Department boosted its position in EQT Corporation 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 valued at $53,584,000 after buying an additional 150,856 shares during the period. Lord Abbett & CO. LLC boosted its position in EQT Corporation by 2.1% in the 2nd quarter. Lord Abbett & CO. LLC now owns 697,211 shares of the oil and gas producer’s stock valued at $40,850,000 after buying an additional 14,019 shares during the period. Finally, Mitchell Group Inc. boosted its position in EQT Corporation by 11.1% in the 2nd quarter. Mitchell Group Inc. now owns 555,569 shares of the oil and gas producer’s stock valued at $32,551,000 after buying an additional 55,330 shares during the period. 99.59% of the stock is owned by institutional investors.
EQT Corporation Company Profile
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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