EQT (NYSE:EQT) Cut to “Strong Sell” at ValuEngine

EQT (NYSE:EQT) was downgraded by investment analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued on Friday, ValuEngine reports.

A number of other brokerages have also weighed in on EQT. Wells Fargo & Co dropped their target price on shares of EQT from $24.00 to $20.00 and set an “outperform” rating for the company 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 for the company 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 for the company in a research report on Friday, July 26th. Finally, Royal Bank of Canada upgraded shares of EQT from a “sector perform” rating to an “outperform” rating and upped 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 given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $24.65.

EQT opened at $10.35 on Friday. The firm has a market cap of $2.66 billion, a P/E ratio of 6.09, a PEG ratio of 1.17 and a beta of 0.64. EQT has a 1-year low of $9.03 and a 1-year high of $21.86. The company has a 50 day simple moving average of $10.17 and a two-hundred day simple moving average of $14.01. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.03.

EQT (NYSE:EQT) last posted its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported ($0.06) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.11. The business had revenue of $951.60 million during the quarter, compared to analyst estimates of $883.29 million. EQT had a negative net margin of 14.65% and a positive return on equity of 3.81%. The company’s revenue was down 9.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.35 earnings per share. Equities analysts anticipate that EQT will post 0.94 earnings per share for the current year.

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

A number of hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its position in EQT by 287.0% during the third quarter. Tower Research Capital LLC TRC now owns 15,111 shares of the oil and gas producer’s stock valued at $161,000 after purchasing an additional 11,206 shares during the last quarter. Share Andrew L. lifted its position in EQT by 1.4% during the third quarter. Share Andrew L. now owns 5,753,000 shares of the oil and gas producer’s stock valued at $61,212,000 after purchasing an additional 77,000 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of EQT by 29.7% in the third quarter. SG Americas Securities LLC now owns 73,323 shares of the oil and gas producer’s stock valued at $780,000 after acquiring an additional 16,802 shares during the period. First Trust Advisors LP raised its stake in shares of EQT by 228.9% in the third quarter. First Trust Advisors LP now owns 662,824 shares of the oil and gas producer’s stock valued at $7,052,000 after acquiring an additional 461,299 shares during the period. Finally, Picton Mahoney Asset Management purchased a new stake in shares of EQT in the third quarter valued at $840,000. Institutional investors and hedge funds own 96.76% of the company’s stock.

About 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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Analyst Recommendations for EQT (NYSE:EQT)

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