UBS Group Trims EQT (NYSE:EQT) Target Price to $36.00

EQT (NYSE:EQT) had its price objective reduced by UBS Group from $38.00 to $36.00 in a report published on Wednesday morning, Benzinga reports. UBS Group currently has a neutral rating on the oil and gas producer’s stock.

Several other equities analysts also recently commented on EQT. Jefferies Financial Group upped their price target on shares of EQT from $43.00 to $48.00 and gave the company a buy rating in a report on Tuesday, June 4th. Scotiabank upped their price target on shares of EQT from $54.00 to $55.00 and gave the company a sector outperform rating in a report on Friday, July 12th. Citigroup reiterated a neutral rating and set a $37.00 price target on shares of EQT in a report on Friday, August 23rd. Morgan Stanley restated an overweight rating and issued a $45.00 target price on shares of EQT in a research note on Friday, September 13th. Finally, StockNews.com upgraded shares of EQT to a sell rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $43.28.

EQT Trading Up 0.3 %

Shares of EQT stock opened at $34.83 on Wednesday. The company’s fifty day simple moving average is $33.28 and its 200-day simple moving average is $36.44. The stock has a market capitalization of $15.38 billion, a PE ratio of 25.24 and a beta of 1.06. EQT has a 1-year low of $30.02 and a 1-year high of $45.23. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.73 and a quick ratio of 0.73.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.12. The business had revenue of $952.51 million for the quarter, compared to analysts’ expectations of $1.06 billion. EQT had a net margin of 12.45% and a return on equity of 4.52%. The business’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.17) EPS. As a group, equities analysts anticipate that EQT will post 1.44 earnings per share for the current year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a dividend of $0.1575 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.81%. EQT’s dividend payout ratio (DPR) is presently 45.65%.

Institutional Investors Weigh In On EQT

A number of large investors have recently added to or reduced their stakes in the business. Park Avenue Securities LLC lifted its holdings in EQT by 3.8% in the 1st quarter. Park Avenue Securities LLC now owns 8,153 shares of the oil and gas producer’s stock valued at $302,000 after purchasing an additional 300 shares in the last quarter. Czech National Bank lifted its holdings in shares of EQT by 0.5% during the 1st quarter. Czech National Bank now owns 72,374 shares of the oil and gas producer’s stock worth $2,683,000 after acquiring an additional 332 shares during the period. Motley Fool Asset Management LLC lifted its holdings in shares of EQT by 5.1% during the 1st quarter. Motley Fool Asset Management LLC now owns 6,861 shares of the oil and gas producer’s stock worth $254,000 after acquiring an additional 336 shares during the period. Hancock Whitney Corp lifted its holdings in shares of EQT by 3.0% during the 1st quarter. Hancock Whitney Corp now owns 14,603 shares of the oil and gas producer’s stock worth $541,000 after acquiring an additional 419 shares during the period. Finally, SeaBridge Investment Advisors LLC lifted its holdings in shares of EQT by 1.4% during the 1st quarter. SeaBridge Investment Advisors LLC now owns 30,361 shares of the oil and gas producer’s stock worth $1,125,000 after acquiring an additional 428 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

About EQT

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.