StockNews.com Upgrades EQT (NYSE:EQT) to “Sell”

StockNews.com upgraded shares of EQT (NYSE:EQT) to a sell rating in a report issued on Monday morning.

A number of other equities analysts have also recently issued reports on EQT. Wells Fargo & Company increased their target price on EQT from $42.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Royal Bank of Canada reissued a “sector perform” rating and issued a $49.00 target price on shares of EQT in a research report on Tuesday, December 3rd. Bank of America began coverage on EQT in a research report on Monday, October 28th. They set a “buy” rating and a $50.00 price target for the company. BMO Capital Markets lifted their price objective on shares of EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, JPMorgan Chase & Co. increased their target price on shares of EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, EQT currently has a consensus rating of “Moderate Buy” and an average price target of $46.61.

EQT Trading Up 5.1 %

NYSE:EQT opened at $46.59 on Monday. The business’s 50-day simple moving average is $42.62 and its 200-day simple moving average is $37.67. EQT has a fifty-two week low of $30.02 and a fifty-two week high of $48.02. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. The stock has a market capitalization of $27.80 billion, a PE ratio of 55.46 and a beta of 1.14.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the previous year, the firm posted $0.30 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. Sell-side analysts expect that EQT will post 1.37 earnings per share for the current fiscal year.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Wednesday, November 6th were issued a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date was Wednesday, November 6th. EQT’s payout ratio is currently 75.00%.

Insider Buying and Selling at EQT

In related news, Director Thomas F. Karam sold 30,154 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the transaction, the director now directly owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. The trade was a 13.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On EQT

Several hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC raised its position in shares of EQT by 104.7% in the third quarter. Sanctuary Advisors LLC now owns 63,507 shares of the oil and gas producer’s stock valued at $2,327,000 after purchasing an additional 32,484 shares during the period. Retirement Systems of Alabama raised its holdings in EQT by 36.7% in the 3rd quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer’s stock valued at $4,878,000 after acquiring an additional 35,733 shares during the period. FMR LLC raised its holdings in EQT by 2.5% in the 3rd quarter. FMR LLC now owns 1,133,197 shares of the oil and gas producer’s stock valued at $41,520,000 after acquiring an additional 28,129 shares during the period. Tidal Investments LLC boosted its holdings in shares of EQT by 55.8% during the third quarter. Tidal Investments LLC now owns 60,816 shares of the oil and gas producer’s stock worth $2,228,000 after acquiring an additional 21,789 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of EQT by 34.4% during the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after acquiring an additional 3,582,418 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Company Profile

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.