EQT (NYSE:EQT) Trading Down 9.2%

EQT Co. (NYSE:EQT)’s share price traded down 9.2% on Thursday . The company traded as low as $13.50 and last traded at $13.72, 10,046,852 shares were traded during mid-day trading. An increase of 127% from the average session volume of 4,420,467 shares. The stock had previously closed at $15.11.

A number of analysts have weighed in on the stock. MKM Partners restated a “neutral” rating and issued a $23.00 target price on shares of EQT in a research report on Tuesday, April 16th. Macquarie assumed coverage on shares of EQT in a research report on Wednesday, May 29th. They issued a “neutral” rating and a $21.00 target price on the stock. Cowen assumed coverage on shares of EQT in a research report on Tuesday, April 9th. They issued a “market perform” rating and a $24.00 target price on the stock. TD Securities cut their target price on shares of EQT from $17.50 to $16.00 and set a “hold” rating on the stock in a research report on Friday, July 26th. Finally, Wells Fargo & Co upgraded shares of EQT from a “market perform” rating to an “outperform” rating and set a $32.00 target price on the stock in a research report on Monday, May 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $33.47.

The firm has a market cap of $3.41 billion, a P/E ratio of 7.85, a price-to-earnings-growth ratio of 1.49 and a beta of 0.57. The firm has a fifty day simple moving average of $15.26. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.04 and a current ratio of 1.04.

EQT (NYSE:EQT) last issued its quarterly earnings results on Thursday, July 25th. The oil and gas producer reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.13. The company had revenue of $958.40 million for the quarter, compared to analyst estimates of $929.86 million. EQT had a negative net margin of 7.41% and a positive return on equity of 4.25%. EQT’s revenue was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 earnings per share. Research analysts forecast that EQT Co. will post 1.02 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Friday, August 9th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.90%. EQT’s dividend payout ratio (DPR) is presently 7.06%.

In related news, EVP Erin R. Centofanti sold 2,970 shares of EQT stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $16.03, for a total transaction of $47,609.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert Joseph Mcnally bought 13,572 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were purchased at an average cost of $18.37 per share, with a total value of $249,317.64. The disclosure for this purchase can be found here. 0.68% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CIBC Private Wealth Group LLC boosted its holdings in EQT by 34.9% during the second quarter. CIBC Private Wealth Group LLC now owns 18,830 shares of the oil and gas producer’s stock worth $297,000 after purchasing an additional 4,871 shares during the last quarter. Stevens Capital Management LP purchased a new position in EQT during the second quarter worth about $238,000. Municipal Employees Retirement System of Michigan boosted its holdings in EQT by 1.6% during the second quarter. Municipal Employees Retirement System of Michigan now owns 47,100 shares of the oil and gas producer’s stock worth $745,000 after purchasing an additional 720 shares during the last quarter. Aperio Group LLC boosted its holdings in EQT by 16.8% during the second quarter. Aperio Group LLC now owns 87,142 shares of the oil and gas producer’s stock worth $1,377,000 after purchasing an additional 12,525 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in EQT by 115.6% during the second quarter. SG Americas Securities LLC now owns 56,521 shares of the oil and gas producer’s stock worth $894,000 after purchasing an additional 30,300 shares during the last quarter. 96.06% of the stock is owned by institutional investors and hedge funds.

About EQT (NYSE:EQT)

EQT Corporation operates as a natural gas production company in the United States. It produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2018, this segment had 21.8 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 1.4 million gross acres.

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