Economy

Royal Bank Of Canada Downgrades EQT Corporation (NYSE:EQT) to Sector Perform

Royal Bank Of Canada Downgrades EQT Corporation (NYSE:EQT) to Sector Perform

ILLEGAL ACTIVITY WARNING: "EQT GP Holdings, (NYSE:EQGP) Receives Coverage Optimism Rating of 0.44" was originally published by The Cerbat Gem and is the property of of The Cerbat Gem.

A number of analysts have recently issued reports on the stock. As of quarter end Whittier Trust Co had acquired a total of 48 shares growing its position 3.8%. LVW Advisors LLC now owns 10,625 shares of the oil and gas company's stock worth $291,000 after buying an additional 200 shares during the period. Proficio Capital Partners LLC boosted its position in shares of EQT GP Holdings, by 4.2% in the first quarter. Aristotle Capital Management LLC raised its stake in shares of EQT Corporation by 3.4% in the fourth quarter. The firm owned 14,229 shares of the oil and gas producer's stock after buying an additional 1,986 shares during the period. South Dakota Investment Council bought a new position in shares of EQT Corporation during the first quarter valued at about $354,000. Finally, Hollencrest Securities LLC bought a new position in shares of EQT GP Holdings, during the first quarter worth approximately $208,000. BlackRock Inc. now owns 13,626,409 shares of the oil and gas producer's stock worth $832,575,000 after buying an additional 13,231,032 shares during the last quarter.

Shares of EQT Corporation (NYSE:EQT) opened at 62.94 on Wednesday. EQT Corporation has a 52-week low of $49.63 and a 52-week high of $75.74. The company has a 50-day moving average price of $27.83 and a 200-day moving average price of $27.29. The company's market capitalization is $10.91 billion. The oil and gas producer reported $0.43 EPS for the quarter, missing the Thomson Reuters' consensus estimate of $0.45 by $0.02. EQT GP Holdings, had a return on equity of 11.39% and a net margin of 30.13%. The company had revenue of $203.40 million for the quarter, compared to analysts' expectations of $201.54 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. The dividend payment will be $0.030 per share for the quarter or $0.12 on an annualized basis. Equities analysts predict that EQT Corporation will post $1.14 EPS for the current fiscal year. EQT Corporation also declared a dividend that will be paid on Friday the 1st of September 2017. The dividend yield will be $0.19. EQT Corporation's payout ratio is now -6.82%.

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Several research firms recently commented on EQT. Scotiabank set a $82.00 price objective on shares of EQT Corporation and gave the company a "hold" rating in a research report on Saturday, April 22nd. Morgan Stanley reissued an "overweight" rating and set a $31.00 price target (up previously from $30.00) on shares of EQT GP Holdings, in a research note on Friday, July 14th. Finally, Royal Bank Of Canada reissued a "buy" rating and set a $36.00 price target on shares of EQT GP Holdings, in a research note on Thursday, April 13th. BidaskClub upgraded EQT Corporation from a "strong sell" rating to a "sell" rating in a report on Friday, June 16th. They now have a $31.00 target price on the oil and gas company's stock, up from their previous target price of $30.00.

The value of the company's investment in EQT Corporation decreased from $434,000 to $416,000 a change of 4.1% quarter over quarter. The SEC filing shows that Cary A. Bray Jr. performed a purchase of 28,000 shares. The shares were purchased at an average price of $50.00. 1,453,446 shares of the company's stock were exchanged. Xact Kapitalforvaltning AB's holdings in EQT Corporation were worth $834,000 as of its most recent SEC filing. They presently have a $25.00 price objective on the oil and gas company's stock. The disclosure for this purchase can be found here. Following the acquisition, the director now owns 22,627 shares of the company's stock, valued at $1,211,675.85. The stock witnessed 23.82% gains, 0.14% gains and 0.13% gains for the 1-month, 3-month and 6-month period, respectively.


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