Investors Buy EQT Corporation (EQT) on Weakness

Traders bought shares of EQT Corporation (NYSE:EQT) on weakness during trading on Tuesday. $56.22 million flowed into the stock on the tick-up and $17.97 million flowed out of the stock on the tick-down, for a money net flow of $38.25 million into the stock. Of all stocks tracked, EQT Corporation had the 8th highest net in-flow for the day. EQT Corporation traded down ($0.02) for the day and closed at $62.88

Several analysts have recently issued reports on the company. BMO Capital Markets set a $75.00 target price on EQT Corporation and gave the stock a “buy” rating in a report on Tuesday. Jefferies Group LLC reissued a “hold” rating and set a $66.00 target price on shares of EQT Corporation in a report on Tuesday. Royal Bank Of Canada set a $79.00 target price on EQT Corporation and gave the stock a “hold” rating in a report on Saturday, October 7th. Scotiabank reissued an “average” rating and set a $79.00 target price on shares of EQT Corporation in a report on Wednesday, October 4th. Finally, Seaport Global Securities upgraded EQT Corporation from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $57.00 to $79.00 in a research report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $79.30.

The company’s 50-day moving average is $63.25 and its 200-day moving average is $60.52. The stock has a market capitalization of $10.94 billion, a PE ratio of 2253.57 and a beta of 0.77.

EQT Corporation (NYSE:EQT) last posted its earnings results on Thursday, July 27th. The oil and gas producer reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.01. EQT Corporation had a return on equity of 0.91% and a net margin of 0.20%. The business had revenue of $631.10 million during the quarter, compared to analysts’ expectations of $642.21 million. During the same period in the previous year, the business earned ($0.35) earnings per share. The firm’s revenue was up 720.1% on a year-over-year basis. Analysts anticipate that EQT Corporation will post $0.91 EPS for the current fiscal year.

The firm also recently announced 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. This represents a $0.12 annualized dividend and a yield of 0.19%. EQT Corporation’s payout ratio is 400.13%.

In other EQT Corporation news, Director A. Bray Jr. Cary bought 406 shares of EQT Corporation stock in a transaction that occurred on Monday, October 2nd. The stock was acquired at an average cost of $65.24 per share, for a total transaction of $26,487.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. Point72 Asia Hong Kong Ltd bought a new stake in EQT Corporation during the first quarter worth about $110,000. Invictus RG bought a new stake in EQT Corporation during the first quarter worth about $119,000. Pacer Advisors Inc. lifted its stake in EQT Corporation by 3.1% during the first quarter. Pacer Advisors Inc. now owns 3,255 shares of the oil and gas producer’s stock worth $199,000 after purchasing an additional 99 shares during the last quarter. Aureus Asset Management LLC bought a new stake in EQT Corporation during the second quarter worth about $205,000. Finally, Pinebridge Investments L.P. bought a new stake in EQT Corporation during the second quarter worth about $212,000. 90.55% of the stock is owned by hedge funds and other institutional investors.

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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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