Investors Buy EQT (EQT) on Weakness

Traders bought shares of EQT Corporation (NYSE:EQT) on weakness during trading hours on Tuesday. $90.80 million flowed into the stock on the tick-up and $20.97 million flowed out of the stock on the tick-down, for a money net flow of $69.83 million into the stock. Of all stocks tracked, EQT had the 19th highest net in-flow for the day. EQT traded down ($0.91) for the day and closed at $54.42

A number of analysts have recently commented on EQT shares. Jefferies Group restated a “hold” rating and issued a $66.00 target price on shares of EQT in a research note on Tuesday, October 10th. Stifel Nicolaus restated a “buy” rating and issued a $87.00 target price on shares of EQT in a research note on Thursday, September 14th. BMO Capital Markets restated a “buy” rating and issued a $75.00 target price on shares of EQT in a research note on Tuesday, November 14th. Cowen set a $80.00 target price on EQT and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Finally, Morgan Stanley upped their target price on EQT from $60.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $76.75.

The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a market capitalization of $9,459.94, a PE ratio of 62.55, a PEG ratio of 4.28 and a beta of 0.76.

EQT (NYSE:EQT) last posted its quarterly earnings results on Thursday, October 26th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.17. The business had revenue of $660.30 million during the quarter, compared to analyst estimates of $667.05 million. EQT had a return on equity of 1.61% and a net margin of 1.39%. The business’s revenue was up 18.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.26) earnings per share. equities research analysts predict that EQT Corporation will post 0.85 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 10th were given a $0.03 dividend. The ex-dividend date was Thursday, November 9th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.22%. EQT’s dividend payout ratio (DPR) is presently 57.15%.

In related news, Chairman David L. Porges sold 53,760 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $59.14, for a total value of $3,179,366.40. Following the completion of the transaction, the chairman now directly owns 438,601 shares in the company, valued at $25,938,863.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas F. Karam acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was acquired at an average price of $59.26 per share, with a total value of $592,600.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $1,185,200. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. D.A. Davidson & CO. boosted its position in shares of EQT by 14.2% during the second quarter. D.A. Davidson & CO. now owns 5,801 shares of the oil and gas producer’s stock worth $339,000 after buying an additional 721 shares during the period. BB&T Corp boosted its position in shares of EQT by 5.6% during the third quarter. BB&T Corp now owns 31,297 shares of the oil and gas producer’s stock worth $2,042,000 after buying an additional 1,673 shares during the period. Zeke Capital Advisors LLC purchased a new position in shares of EQT during the third quarter worth $212,000. Aureus Asset Management LLC purchased a new position in shares of EQT during the second quarter worth $205,000. Finally, Pinebridge Investments L.P. purchased a new position in shares of EQT during the second quarter worth $212,000. Institutional investors own 90.54% of the company’s stock.

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EQT 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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