EQT (EQT) Stock Rating Reaffirmed by MKM Partners

MKM Partners reissued their neutral rating on shares of EQT (NYSE:EQT) in a report issued on Tuesday morning, BenzingaRatingsTable reports. The brokerage currently has a $23.00 target price on the oil and gas producer’s stock.

A number of other equities analysts have also recently issued reports on EQT. Royal Bank of Canada cut shares of EQT from an outperform rating to a sector perform rating in a research note on Monday, January 7th. They noted that the move was a valuation call. Jefferies Financial Group restated a hold rating and issued a $21.00 price objective on shares of EQT in a research note on Tuesday, January 29th. Stifel Nicolaus set a $79.00 price objective on shares of EQT and gave the company a buy rating in a research note on Thursday, December 20th. Credit Suisse Group restated a buy rating and issued a $24.00 price objective on shares of EQT in a research note on Tuesday, January 22nd. Finally, Morgan Stanley set a $10.00 price objective on shares of EQT and gave the company a sell rating in a research note on Tuesday, January 29th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $37.13.

Shares of EQT stock opened at $20.44 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.44. EQT has a fifty-two week low of $16.29 and a fifty-two week high of $31.28. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of 12.02, a P/E/G ratio of 1.60 and a beta of 0.71.

EQT (NYSE:EQT) last issued its quarterly earnings results on Thursday, February 14th. The oil and gas producer reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.02). EQT had a negative net margin of 45.88% and a positive return on equity of 4.46%. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period last year, the company earned $0.76 earnings per share. EQT’s revenue for the quarter was up 20.5% on a year-over-year basis. On average, equities research analysts expect that EQT will post 1.35 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date is Tuesday, May 14th. EQT’s dividend payout ratio is 7.06%.

In other news, General Counsel Jonathan M. Lushko bought 7,903 shares of the company’s stock in a transaction that occurred on Tuesday, February 19th. The stock was acquired at an average price of $19.04 per share, for a total transaction of $150,473.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Robert Joseph Mcnally bought 1,496 shares of the company’s stock in a transaction that occurred on Tuesday, February 19th. The shares were purchased at an average price of $19.10 per share, with a total value of $28,573.60. Following the transaction, the chief executive officer now directly owns 180,245 shares in the company, valued at $3,442,679.50. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 59,459 shares of company stock valued at $1,177,466. Corporate insiders own 0.68% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC increased its position in shares of EQT by 1.8% during the 1st quarter. Nisa Investment Advisors LLC now owns 155,329 shares of the oil and gas producer’s stock worth $3,222,000 after purchasing an additional 2,770 shares in the last quarter. Sciencast Management LP acquired a new stake in shares of EQT during the 1st quarter worth about $203,000. Retirement Systems of Alabama increased its position in shares of EQT by 0.5% during the 1st quarter. Retirement Systems of Alabama now owns 331,636 shares of the oil and gas producer’s stock worth $6,878,000 after purchasing an additional 1,511 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of EQT by 1.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 68,200 shares of the oil and gas producer’s stock worth $1,414,000 after purchasing an additional 700 shares in the last quarter. Finally, Virtu Financial LLC increased its position in shares of EQT by 83.9% during the 1st quarter. Virtu Financial LLC now owns 22,914 shares of the oil and gas producer’s stock worth $475,000 after purchasing an additional 10,456 shares in the last quarter. Institutional investors and hedge funds own 96.49% of the company’s stock.

EQT Company Profile

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.

Further Reading: Depreciation

Analyst Recommendations for EQT (NYSE:EQT)

Receive News & Ratings for EQT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQT and related companies with MarketBeat.com's FREE daily email newsletter.