EQT (NYSE:EQT) Sets New 12-Month Low at $9.01

EQT Co. (NYSE:EQT)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $9.01 and last traded at $9.02, with a volume of 190751 shares traded. The stock had previously closed at $9.66.

EQT has been the topic of a number of analyst reports. Wells Fargo & Co cut their price objective on shares of EQT from $24.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. TD Securities dropped their target price on shares of EQT from $17.50 to $16.00 and set a “hold” rating on the stock in a research report on Friday, July 26th. Morgan Stanley dropped their target price on shares of EQT from $5.00 to $4.50 and set an “underweight” rating on the stock in a research report on Friday, July 26th. ValuEngine downgraded shares of EQT from a “sell” rating to a “strong sell” rating in a research report on Friday. Finally, Royal Bank of Canada raised shares of EQT from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $16.00 to $17.00 in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $24.65.

The company has a market cap of $2.65 billion, a PE ratio of 5.26, a P/E/G ratio of 1.08 and a beta of 0.64. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. The firm’s 50-day simple moving average is $10.07 and its two-hundred day simple moving average is $13.79.

EQT (NYSE:EQT) last released its earnings results on Thursday, October 31st. The oil and gas producer reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.11. The company had revenue of $951.60 million for the quarter, compared to the consensus estimate of $883.29 million. EQT had a negative net margin of 14.65% and a positive return on equity of 3.81%. EQT’s revenue was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 EPS. As a group, analysts predict that EQT Co. will post 0.95 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Thursday, November 7th. EQT’s dividend payout ratio (DPR) is currently 7.06%.

In related news, insider (Mick) O’brien Michael 16,562 shares of the stock in a transaction on Monday, October 28th. 0.68% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of EQT in the 2nd quarter valued at $25,000. Point72 Hong Kong Ltd purchased a new stake in shares of EQT in the 2nd quarter valued at $37,000. Machina Capital S.A.S. purchased a new stake in shares of EQT in the 2nd quarter valued at $45,000. Quest Capital Management Inc. ADV purchased a new stake in shares of EQT in the 3rd quarter valued at $51,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of EQT by 1,246.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,905 shares of the oil and gas producer’s stock valued at $62,000 after acquiring an additional 3,615 shares during the last quarter. 96.65% of the stock is currently owned by institutional investors and hedge funds.

About EQT (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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