Stifel Nicolaus Initiates Coverage on EQT Co. (EQT)

Stifel Nicolaus Initiates Coverage on EQT Co. (EQT)

Stifel Nicolaus initiated coverage on shares of EQT Co. (NYSE:EQT) in a research note published on Thursday morning. The brokerage issued a buy rating and a $63.00 price objective on the stock.

Several other equities analysts have also recently commented on the stock. Scotiabank set a $84.00 target price on shares of EQT and gave the company a hold rating in a research note on Monday, March 20th. Tudor Pickering raised shares of EQT from a hold rating to a buy rating in a research note on Monday, March 13th. Zacks Investment Research cut shares of EQT from a buy rating to a hold rating in a research note on Tuesday, March 7th. Jefferies Group LLC set a $69.00 target price on shares of EQT and gave the company a hold rating in a research note on Saturday, March 4th. Finally, KLR Group reissued a buy rating and set a $94.00 target price on shares of EQT in a research note on Friday, February 3rd. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. EQT presently has an average rating of Buy and an average price target of $80.64.

EQT (NYSE:EQT) opened at 59.66 on Thursday. The firm’s market cap is $10.31 billion. The stock has a 50 day moving average of $59.91 and a 200-day moving average of $65.65. EQT has a 52-week low of $56.33 and a 52-week high of $80.61.

EQT (NYSE:EQT) last released its earnings results on Thursday, February 2nd. The company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.31. The firm had revenue of $379.02 million for the quarter, compared to analysts’ expectations of $578.01 million. EQT had a negative net margin of 28.16% and a negative return on equity of 0.53%. EQT’s quarterly revenue was down 37.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.07) EPS. On average, analysts expect that EQT will post $0.92 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Friday, February 17th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.20%. The ex-dividend date was Wednesday, February 15th. EQT’s dividend payout ratio is currently -4.49%.

In related news, Director A. Bray Jr. Cary purchased 417 shares of the firm’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was acquired at an average cost of $65.40 per share, for a total transaction of $27,271.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

Several hedge funds have recently bought and sold shares of EQT. Price T Rowe Associates Inc. MD boosted its stake in EQT by 8.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 17,065,832 shares of the company’s stock valued at $1,239,321,000 after buying an additional 1,344,202 shares in the last quarter. Norges Bank bought a new stake in EQT during the fourth quarter valued at approximately $80,536,000. JPMorgan Chase & Co. boosted its stake in EQT by 5.8% in the third quarter. JPMorgan Chase & Co. now owns 17,117,821 shares of the company’s stock valued at $1,243,095,000 after buying an additional 933,499 shares in the last quarter. Mik Capital LLC bought a new stake in EQT during the third quarter valued at approximately $61,196,000. Finally, Boston Partners boosted its stake in EQT by 7.3% in the third quarter. Boston Partners now owns 7,408,773 shares of the company’s stock valued at $538,025,000 after buying an additional 506,135 shares in the last quarter. Institutional investors and hedge funds own 93.46% of the company’s stock.

About EQT

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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