EQT (NYSE:EQT) Price Target Raised to $42.00

EQT (NYSE:EQT) had its price target upped by UBS Group from $40.00 to $42.00 in a research note published on Monday, Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock.

Other equities research analysts also recently issued reports about the company. Mizuho lowered their target price on EQT from $43.00 to $41.00 and set a “neutral” rating for the company in a report on Friday, October 4th. Stephens lifted their target price on EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Bank of America started coverage on EQT in a report on Monday, October 28th. They issued a “buy” rating and a $50.00 target price for the company. StockNews.com upgraded EQT to a “sell” rating in a report on Friday, July 26th. Finally, Piper Sandler downgraded EQT from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $43.00 to $32.00 in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.83.

EQT Price Performance

EQT stock opened at $40.20 on Monday. The stock’s 50 day moving average is $35.56 and its 200 day moving average is $36.64. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. The firm has a market cap of $17.75 billion, a P/E ratio of 47.86 and a beta of 1.06. EQT has a one year low of $30.02 and a one year high of $42.44.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 earnings per share. As a group, research analysts expect that EQT will post 1.42 EPS for the current year.

EQT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th will be given a $0.1575 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.63 annualized dividend and a yield of 1.57%. EQT’s dividend payout ratio is currently 75.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its position in EQT by 22.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock worth $2,405,007,000 after purchasing an additional 11,993,729 shares during the last quarter. Vanguard Group Inc. boosted its position in EQT by 8.4% in the first quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock worth $1,885,590,000 after purchasing an additional 3,942,802 shares during the last quarter. Bank of New York Mellon Corp boosted its position in EQT by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer’s stock worth $752,487,000 after purchasing an additional 464,781 shares during the last quarter. Modera Wealth Management LLC purchased a new position in EQT in the third quarter worth $562,494,000. Finally, Clearbridge Investments LLC lifted its position in shares of EQT by 2.9% during the 2nd quarter. Clearbridge Investments LLC now owns 9,084,686 shares of the oil and gas producer’s stock valued at $335,952,000 after buying an additional 253,186 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Company Profile

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.