Investors Buy EQT (EQT) on Weakness

Investors bought shares of EQT Corporation (NYSE:EQT) on weakness during trading hours on Tuesday. $90.80 million flowed into the stock on the tick-up and $20.97 million flowed out of the stock on the tick-down, for a money net flow of $69.83 million into the stock. Of all equities tracked, EQT had the 19th highest net in-flow for the day. EQT traded down ($0.91) for the day and closed at $54.42

Several research firms recently weighed in on EQT. SunTrust Banks restated a “hold” rating and issued a $65.00 target price on shares of EQT in a report on Friday, December 8th. Credit Suisse Group assumed coverage on EQT in a research report on Monday, December 11th. They issued an “outperform” rating and a $70.00 price target on the stock. Morgan Stanley reaffirmed an “equal weight” rating and issued a $64.00 price target on shares of EQT in a research report on Thursday, December 14th. Seaport Global Securities raised EQT from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $57.00 to $79.00 in a research report on Tuesday, September 26th. Finally, Cowen reaffirmed a “buy” rating and issued a $80.00 price target on shares of EQT in a research report on Tuesday, September 12th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. EQT currently has an average rating of “Buy” and a consensus price target of $77.25.

The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.29. The stock has a market cap of $9,510.35, a P/E ratio of 62.88, a P/E/G ratio of 4.21 and a beta of 0.76.

EQT (NYSE:EQT) last announced its quarterly earnings results on Thursday, October 26th. The oil and gas producer reported $0.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.17. The business had revenue of $660.30 million for the quarter, compared to analyst estimates of $667.05 million. EQT had a return on equity of 1.61% and a net margin of 1.39%. EQT’s quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.26) EPS. sell-side analysts expect that EQT Corporation will post 0.87 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 10th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date was Thursday, November 9th. EQT’s dividend payout ratio is currently 57.15%.

In other EQT news, Director Thomas F. Karam acquired 10,000 shares of EQT stock in a transaction on Wednesday, November 15th. The shares were bought at an average price of $59.26 per share, with a total value of $592,600.00. Following the completion of the purchase, the director now owns 20,000 shares in the company, valued at $1,185,200. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director A. Bray Jr. Cary acquired 406 shares of EQT stock in a transaction on Monday, October 2nd. The stock was acquired at an average cost of $65.24 per share, for a total transaction of $26,487.44. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of EQT. Everence Capital Management Inc. lifted its stake in shares of EQT by 45.0% during the second quarter. Everence Capital Management Inc. now owns 9,158 shares of the oil and gas producer’s stock valued at $537,000 after acquiring an additional 2,840 shares during the period. Neuberger Berman Group LLC lifted its stake in shares of EQT by 13.1% during the second quarter. Neuberger Berman Group LLC now owns 2,328,251 shares of the oil and gas producer’s stock valued at $136,412,000 after acquiring an additional 270,054 shares during the period. Mitchell Group Inc. lifted its stake in shares of EQT by 11.1% during the second quarter. Mitchell Group Inc. now owns 555,569 shares of the oil and gas producer’s stock valued at $32,551,000 after acquiring an additional 55,330 shares during the period. Amalgamated Bank lifted its stake in shares of EQT by 68.8% during the second quarter. Amalgamated Bank now owns 18,031 shares of the oil and gas producer’s stock valued at $1,056,000 after acquiring an additional 7,346 shares during the period. Finally, UBS Asset Management Americas Inc. lifted its stake in shares of EQT by 8.9% during the second quarter. UBS Asset Management Americas Inc. now owns 474,265 shares of the oil and gas producer’s stock valued at $27,787,000 after acquiring an additional 38,836 shares during the period. 90.54% of the stock is currently owned by institutional investors and hedge funds.

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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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