EQT Corporation (NYSE:EQT) PT Set at $70.00 by BMO Capital Markets

BMO Capital Markets set a $70.00 target price on EQT Corporation (NYSE:EQT) in a report issued on Friday, July 28th. The brokerage currently has a buy rating on the oil and gas producer’s stock.

EQT has been the subject of a number of other reports. Jefferies Group LLC reissued a hold rating and issued a $69.00 price target on shares of EQT Corporation in a report on Thursday, April 6th. Royal Bank Of Canada lowered shares of EQT Corporation from an outperform rating to a sector perform rating and reduced their price objective for the company from $86.00 to $80.00 in a research note on Wednesday, July 5th. Stifel Nicolaus reissued a buy rating and issued a $81.00 price target (up from $63.00) on shares of EQT Corporation in a research report on Tuesday, May 2nd. BidaskClub raised shares of EQT Corporation from a strong sell rating to a sell rating in a research report on Friday, June 16th. Finally, Scotiabank upgraded EQT Corporation from a sector perform rating to an outperform rating and increased their price objective for the stock from $77.00 to $81.00 in a report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $79.58.

Shares of EQT Corporation (NYSE:EQT) traded down 0.25% during trading on Friday, reaching $60.90. 763,145 shares of the company traded hands. EQT Corporation has a 52 week low of $49.63 and a 52 week high of $75.74. The company has a market capitalization of $10.56 billion, a price-to-earnings ratio of 2175.00 and a beta of 0.77. The firm’s 50 day moving average price is $61.80 and its 200-day moving average price is $59.78.

EQT Corporation (NYSE:EQT) last announced its earnings results on Thursday, July 27th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.01. The firm had revenue of $631.10 million during the quarter, compared to analyst estimates of $642.21 million. EQT Corporation had a net margin of 0.20% and a return on equity of 0.91%. EQT Corporation’s revenue was up 720.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.35) EPS. Equities analysts anticipate that EQT Corporation will post $1.02 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 11th will be 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 is Wednesday, August 9th. EQT Corporation’s dividend payout ratio (DPR) is presently 400.13%.

In related news, Director A. Bray Jr. Cary purchased 28,000 shares of the stock in a transaction on Friday, June 23rd. The shares were purchased at an average price of $53.55 per share, with a total value of $1,499,400.00. Following the transaction, the director now directly owns 22,627 shares of the company’s stock, valued at $1,211,675.85. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert Joseph Mcnally purchased 1,500 shares of the stock in a transaction on Wednesday, June 21st. The shares were bought at an average cost of $50.00 per share, for a total transaction of $75,000.00. The disclosure for this purchase can be found here. Insiders acquired a total of 41,901 shares of company stock worth $2,211,775 in the last 90 days. Company insiders own 1.00% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of EQT. South Dakota Investment Council acquired a new position in EQT Corporation during the first quarter worth $354,000. Knights of Columbus Asset Advisors LLC acquired a new position in EQT Corporation during the first quarter worth $760,000. Whittier Trust Co. raised its position in EQT Corporation by 3.6% in the second quarter. Whittier Trust Co. now owns 171,209 shares of the oil and gas producer’s stock worth $10,031,000 after buying an additional 5,872 shares during the last quarter. BlackRock Inc. raised its position in EQT Corporation by 3,346.4% in the first quarter. BlackRock Inc. now owns 13,626,409 shares of the oil and gas producer’s stock worth $832,575,000 after buying an additional 13,231,032 shares during the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of EQT Corporation by 9.9% in the first quarter. Clearbridge Investments LLC now owns 20,969 shares of the oil and gas producer’s stock worth $1,281,000 after buying an additional 1,890 shares in the last quarter. 90.07% of the stock is currently owned by institutional investors and hedge funds.

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.