EQT Corporation (EQT) is Downgraded by Scotia Howard Weil to Sector Perform, Lowers Price Target to $ 90

EQT Corporation (EQT) was Downgraded by Scotia Howard Weil to ” Sector Perform” while Lowering the Price Target of the company shares to $ 90 from a previous price target of $91 . Earlier the firm had a rating of “Sector Outperform ” on the company shares. Scotia Howard Weil advised their investors in a research report released on Aug 11, 2016.

Many Wall Street Analysts have commented on EQT Corporation. Shares were Reiterated by Scotia Howard Weil on Jul 29, 2016 to “Sector Outperform” and Lowered the Price Target to $ 91 from a previous price target of $92 .

On the company’s financial health, EQT Corporation reported $-0.35 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $-0.40. The company had revenue of $127.53 million for the quarter, compared to analysts expectations of $448.83 million. The company’s revenue was down -71.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.06 EPS.

EQT Corporation closed down -0.1 points or -0.14% at $69.83 with 15,81,577 shares getting traded on Monday. Post opening the session at $70.22, the shares hit an intraday low of $69.6 and an intraday high of $70.46 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Jul 6, 2016, A. Bray Jr. Cary (director) purchased 277 shares at $77.43 per share price. According to the SEC, on Jul 5, 2016, Randall L Crawford (Senior Vice President) sold 4,981 shares at $77.21 per share price. On Nov 12, 2015, Theresa Z Bone (VP Fin and Chief Acct Officer) sold 14,095 shares at $66.75 per share price, according to the Form-4 filing with the securities and exchange commission.

EQT Corporation (EQT) is an energy company. The Company operates in two business segments: EQT Production and EQT Midstream. EQT Production is a natural gas producer in the Appalachian Basin with approximately 10.7 trillion cubic feet equivalent (Tcfe) of proved natural gas natural gas liquids (NGLs) and crude oil reserves across approximately 3.4 million acres including around 630000 gross acres in the Marcellus play. Its proved reserves include Lower Huron Cleveland Berea sandstone and other Devonian age formations. EQT Midstream assets are located in the Marcellus Shale region spanning an area of southwestern Pennsylvania and northern West Virginia. EQT Midstream provides gathering transmission and storage services for its produced gas and for the independent third parties across the Appalachian Basin.

EQT Corporation

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