EQT Corporation Gets a Buy Rating from Stifel Nicolaus

By Austin Angelo

Stifel Nicolaus analyst Karl Chalabala reiterated a Buy rating on EQT Corporation (NYSE: EQT) yesterday and set a price target of $87. The company’s shares opened today at $64.87.

According to TipRanks.com, Chalabala is ranked 0 out of 5 stars with an average return of -21.4% and a 23.0% success rate. Chalabala covers the Basic Materials sector, focusing on stocks such as Gulfport Energy Corp, Range Resources Corp, and Southwestern Energy.

Currently, the analyst consensus on EQT Corporation is Moderate Buy and the average price target is $77.50, representing a 19.5% upside.

In a report issued on September 1, BMO Capital also reiterated a Buy rating on the stock with a $75 price target.

Based on EQT Corporation’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $643 million and quarterly net profit of $41.13 million. In comparison, last year the company earned revenue of $346 million and had a GAAP net loss of $259 million.

Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EQT in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

EQT Corp. focuses on natural gas production, gathering and transmission in the Appalachian area. It operates its business through the following segments: EQT Production, EQT Gathering and EQT Transmission. The EQT Production segment engages in the exploration, development and production of natural gas, natural gas liquids and crude oil.