Barclays Raises Numbers on EQT Corp. (EQT); EQM Accelerates Well Development
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Price: $79.86 -0.05%
Rating Summary:
5 Buy, 7 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
5 Buy, 7 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade EQT Now!
Barclays maintains an 'Overweight' on EQT Corp. (NYSE: EQT) price target of $65.00 (from $62.00).
Analyst, Richard Gross, said, "EQT Midstream Partners (NYSE: EQM) was spun out via IPO on 7/2/12 and EQT raised proceeds of $232 million. The MLP will act as a funding vehicle for EQT while allowing EQT to maintain control of future midstream build in order to get its production to market. We expect dropdowns of at least $200 million on an annual basis, which will essentially enable EQT to accelerate its well development program in the Marcellus."
Gross raises FY12 EPS estimates from $1.44 to $1.52 and FY13 $2.28 to $2.41.
For an analyst ratings summary and ratings history on EQT Corp. click here. For more ratings news on EQT Corp. click here.
Shares of EQT Corp. closed at $56.99 yesterday, with a 52 week range of $43.69-$73.10.
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Analyst, Richard Gross, said, "EQT Midstream Partners (NYSE: EQM) was spun out via IPO on 7/2/12 and EQT raised proceeds of $232 million. The MLP will act as a funding vehicle for EQT while allowing EQT to maintain control of future midstream build in order to get its production to market. We expect dropdowns of at least $200 million on an annual basis, which will essentially enable EQT to accelerate its well development program in the Marcellus."
Gross raises FY12 EPS estimates from $1.44 to $1.52 and FY13 $2.28 to $2.41.
For an analyst ratings summary and ratings history on EQT Corp. click here. For more ratings news on EQT Corp. click here.
Shares of EQT Corp. closed at $56.99 yesterday, with a 52 week range of $43.69-$73.10.
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