EQT Corporation (NYSE:EQT) Given Consensus Rating of “Moderate Buy” by Analysts

EQT Corporation (NYSE:EQT) has received an average rating of “Moderate Buy” from the twenty-seven analysts that are presently covering the firm, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation, eighteen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $68.0952.

Several analysts have weighed in on EQT shares. UBS Group lowered their price target on shares of EQT from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. BMO Capital Markets reduced their price objective on EQT from $76.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Wall Street Zen downgraded EQT from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Zacks Research upgraded EQT from a “strong sell” rating to a “hold” rating in a report on Thursday. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of EQT in a research note on Thursday, July 30th.

EQT Trading Down 0.0%

EQT stock opened at $54.56 on Monday. The company has a market capitalization of $34.13 billion, a PE ratio of 12.66 and a beta of 0.58. EQT has a one year low of $47.94 and a one year high of $68.24. The company’s 50 day moving average price is $52.33 and its two-hundred day moving average price is $56.41. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.67 and a current ratio of 0.67.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). EQT had a return on equity of 9.31% and a net margin of 28.44%.The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the firm posted $0.45 earnings per share. The company’s revenue was down 29.2% compared to the same quarter last year. As a group, analysts predict that EQT will post 3.96 earnings per share for the current fiscal year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 5th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 5th. EQT’s payout ratio is 15.31%.

Insiders Place Their Bets

In other news, CEO Toby Z. Rice sold 175,328 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $55.03, for a total transaction of $9,648,299.84. Following the completion of the sale, the chief executive officer owned 2,157,865 shares of the company’s stock, valued at approximately $118,747,310.95. This represents a 7.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 274,042 shares of company stock valued at $15,005,076 in the last ninety days. Insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Reaves W H & Co. Inc. raised its position in EQT by 12.9% during the 4th quarter. Reaves W H & Co. Inc. now owns 1,161,975 shares of the oil and gas producer’s stock valued at $62,282,000 after purchasing an additional 132,741 shares during the last quarter. Cullen Frost Bankers Inc. lifted its holdings in EQT by 21.5% in the 4th quarter. Cullen Frost Bankers Inc. now owns 186,352 shares of the oil and gas producer’s stock worth $9,988,000 after buying an additional 32,921 shares during the period. BOKF NA grew its position in shares of EQT by 25.9% in the 4th quarter. BOKF NA now owns 138,368 shares of the oil and gas producer’s stock worth $7,417,000 after buying an additional 28,427 shares during the last quarter. Allstate Corp grew its position in shares of EQT by 114.0% in the 4th quarter. Allstate Corp now owns 48,523 shares of the oil and gas producer’s stock worth $2,601,000 after buying an additional 25,852 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of EQT during the second quarter valued at approximately $163,705,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

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.