EQT Stock Bounces Back in Mid-$50s After Mixed Q2 Earnings
EQT Corporation's stock price has stabilized in the mid-$50s after a mixed Q2 earnings report. The company reported revenue growth of 5.2% year over year, but missed analysts' expectations by 3.3%. Earnings before interest, taxes, depreciation, and amortization (EBITDA) exceeded forecasts, however.
The stock has gained 9.7% since reporting Q2 results, but is still down 7% year to date. Institutional investors remain interested in EQT, with Fielder Capital Group LLC establishing a new position in the company. Analysts are bullish on EQT, with a mean recommendation of 'Buy' and an average target price of $67.68 per share.
EQT's dividend yield is 1.2%, providing some compensation for investors waiting for potential share-price upside. The company has secured long-term contracts, including a 10-year supply agreement for a 2-gigawatt power generation facility in West Virginia. This arrangement helps to buffer EQT against short-term swings in spot natural gas prices.