EQT Corp. (NYSE:EQT) — This energy company produces natural gas chiefly from the Appalachian Basin. EQT Corp. (formerly Equitable Resources, Inc.) reported Q3 earnings per share of 45 cents vs. 20 cents a year ago, beating Capital IQ consensus estimates of 40 cents. Revenues were higher and expenses lower. Operating revenue showed a 30.8% gain year-over-year. Analysts’ future estimates were increased across the board. EQT pays a 1.39% dividend yield.
The stock had traded in a narrow bull channel until July, when it broke higher to a new range of $50 to $65. In late October, it popped above $70 on a triple-top breakout. But with the news of better earnings now digested, EQT has pulled back under $65, its buy point. The target for EQT is $80.