EQT (NYSE:EQT) Shares Down 6%

EQT Co. (NYSE:EQT) dropped 6% during mid-day trading on Thursday . The company traded as low as $11.48 and last traded at $11.51, approximately 4,494,789 shares traded hands during mid-day trading. A decline of 6% from the average daily volume of 4,766,019 shares. The stock had previously closed at $12.25.

EQT has been the topic of a number of research analyst reports. TD Securities cut their target price on EQT from $17.50 to $16.00 and set a “hold” rating on the stock in a research report on Friday, July 26th. Macquarie started coverage on shares of EQT in a research note on Wednesday, May 29th. They issued a “neutral” rating and a $21.00 price target for the company. Finally, Morgan Stanley dropped their price target on shares of EQT from $5.00 to $4.50 and set an “underweight” rating for the company in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $31.03.

The company’s 50 day simple moving average is $11.73 and its 200 day simple moving average is $16.81. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of 6.77, a P/E/G ratio of 1.56 and a beta of 0.64. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.04 and a quick ratio of 1.04.

EQT (NYSE:EQT) last issued its earnings results on Thursday, July 25th. The oil and gas producer reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.13. The firm had revenue of $958.40 million during the quarter, compared to the consensus estimate of $929.86 million. EQT had a negative net margin of 7.41% and a positive return on equity of 4.25%. The company’s revenue was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.44 earnings per share. As a group, analysts forecast that EQT Co. will post 0.78 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.04%. EQT’s payout ratio is currently 7.06%.

Hedge funds have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC acquired a new position in shares of EQT during the second quarter worth $25,000. Point72 Hong Kong Ltd acquired a new position in shares of EQT during the second quarter worth $37,000. Machina Capital S.A.S. acquired a new position in shares of EQT during the second quarter worth $45,000. Hilton Capital Management LLC acquired a new position in shares of EQT during the first quarter worth $65,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of EQT by 1,246.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,905 shares of the oil and gas producer’s stock worth $62,000 after purchasing an additional 3,615 shares in the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

EQT Company Profile (NYSE: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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