EQT’s (EQT) “Sector Perform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of EQT (NYSE:EQT) in a research report report published on Tuesday, Marketbeat.com reports. The firm currently has a $49.00 target price on the oil and gas producer’s stock.

Other equities analysts have also issued research reports about the stock. Piper Sandler increased their target price on shares of EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Truist Financial raised their price objective on shares of EQT from $32.00 to $41.00 and gave the company a “hold” rating in a research report on Tuesday, November 26th. BMO Capital Markets raised their price objective on shares of EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Wells Fargo & Company raised their price objective on shares of EQT from $42.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Finally, Morgan Stanley raised their price objective on shares of EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $44.83.

EQT Stock Performance

Shares of EQT opened at $44.81 on Tuesday. The firm has a 50-day moving average price of $39.71 and a 200 day moving average price of $37.21. The firm has a market capitalization of $26.74 billion, a PE ratio of 53.35 and a beta of 1.14. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. EQT has a 52-week low of $30.02 and a 52-week high of $48.02.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. EQT’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.30 EPS. On average, sell-side analysts anticipate that EQT will post 1.36 earnings per share for the current fiscal year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Wednesday, November 6th were issued a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.41%. The ex-dividend date was Wednesday, November 6th. EQT’s dividend payout ratio is currently 75.00%.

Institutional Trading of EQT

Several institutional investors have recently made changes to their positions in EQT. HM Payson & Co. acquired a new stake in shares of EQT during the third quarter worth approximately $25,000. Innealta Capital LLC acquired a new stake in shares of EQT during the second quarter worth approximately $28,000. Truvestments Capital LLC acquired a new stake in shares of EQT during the third quarter worth approximately $30,000. Hexagon Capital Partners LLC boosted its holdings in shares of EQT by 18,080.0% during the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 904 shares during the period. Finally, Quarry LP boosted its holdings in shares of EQT by 184.7% during the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 578 shares during the period. 90.81% of the stock is currently 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.