EQT (NYSE:EQT) Downgraded to “Strong Sell” at ValuEngine

ValuEngine lowered shares of EQT (NYSE:EQT) from a sell rating to a strong sell rating in a research report sent to investors on Friday morning, ValuEngine reports.

Several other analysts also recently commented on EQT. Morgan Stanley decreased their target price on shares of EQT from $5.00 to $4.50 and set an underweight rating for the company in a research report on Friday, July 26th. Royal Bank of Canada raised shares of EQT from a sector perform rating to an outperform rating and boosted their target price for the stock from $16.00 to $17.00 in a research report on Friday, November 8th. Wells Fargo & Co decreased their target price on shares of EQT from $24.00 to $20.00 and set an outperform rating for the company in a research report on Tuesday. Finally, TD Securities decreased their target price on shares of EQT from $17.50 to $16.00 and set a hold rating for the company in a research report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $24.65.

EQT stock traded up $0.04 during trading hours on Friday, hitting $10.35. The company’s stock had a trading volume of 3,474,799 shares, compared to its average volume of 6,389,505. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $2.66 billion, a PE ratio of 6.09, a price-to-earnings-growth ratio of 1.17 and a beta of 0.64. EQT has a 12 month low of $9.03 and a 12 month high of $21.86. The stock has a 50 day moving average price of $10.17 and a two-hundred day moving average price of $14.01.

EQT (NYSE:EQT) last posted its earnings results on Thursday, October 31st. The oil and gas producer reported ($0.06) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.11. The company had revenue of $951.60 million during the quarter, compared to the consensus estimate of $883.29 million. EQT had a negative net margin of 14.65% and a positive return on equity of 3.81%. The company’s revenue for the quarter was down 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.35 earnings per share. Sell-side analysts expect that EQT will post 0.94 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Thursday, November 7th. EQT’s dividend payout ratio is currently 7.06%.

In other news, insider (Mick) O’brien Michael 16,562 shares of the company’s stock in a transaction on Monday, October 28th. 0.68% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its stake in EQT by 287.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 15,111 shares of the oil and gas producer’s stock valued at $161,000 after purchasing an additional 11,206 shares during the last quarter. Share Andrew L. raised its stake in EQT by 1.4% during the 3rd quarter. Share Andrew L. now owns 5,753,000 shares of the oil and gas producer’s stock valued at $61,212,000 after purchasing an additional 77,000 shares during the last quarter. SG Americas Securities LLC raised its stake in EQT by 29.7% during the 3rd quarter. SG Americas Securities LLC now owns 73,323 shares of the oil and gas producer’s stock valued at $780,000 after purchasing an additional 16,802 shares during the last quarter. First Trust Advisors LP raised its stake in EQT by 228.9% during the 3rd quarter. First Trust Advisors LP now owns 662,824 shares of the oil and gas producer’s stock valued at $7,052,000 after purchasing an additional 461,299 shares during the last quarter. Finally, Picton Mahoney Asset Management acquired a new position in EQT during the 3rd quarter valued at $840,000. Hedge funds and other institutional investors own 96.76% of the company’s stock.

About 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for EQT (NYSE:EQT)

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