Piper Sandler Forecasts Strong Price Appreciation for EQT (NYSE:EQT) Stock

EQT (NYSE:EQT) had its target price hoisted by Piper Sandler from $32.00 to $34.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the oil and gas producer’s stock.

A number of other brokerages have also issued reports on EQT. Morgan Stanley reiterated an “overweight” rating and issued a $45.00 price objective on shares of EQT in a report on Friday, September 13th. Truist Financial dropped their price objective on shares of EQT from $36.00 to $32.00 and set a “hold” rating for the company in a report on Monday, July 22nd. Bank of America initiated coverage on shares of EQT in a report on Monday, October 28th. They issued a “buy” rating and a $50.00 price objective for the company. UBS Group raised their price target on shares of EQT from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Wells Fargo & Company upgraded shares of EQT from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $40.00 to $42.00 in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, EQT currently has an average rating of “Moderate Buy” and a consensus target price of $42.83.

EQT Stock Up 1.2 %

EQT stock opened at $40.69 on Monday. The stock has a market capitalization of $17.97 billion, a P/E ratio of 48.44 and a beta of 1.06. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. EQT has a 12 month low of $30.02 and a 12 month high of $42.44. The firm has a 50-day moving average price of $35.56 and a 200-day moving average price of $36.64.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 earnings per share. As a group, equities research analysts anticipate that EQT will post 1.39 EPS for the current fiscal year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 6th will be given a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Wednesday, November 6th. EQT’s payout ratio is currently 75.00%.

Hedge Funds Weigh In On EQT

A number of hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in EQT by 22.7% during the 1st 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 acquiring an additional 11,993,729 shares during the last quarter. Vanguard Group Inc. boosted its holdings in EQT by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock worth $1,885,590,000 after acquiring an additional 3,942,802 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in EQT by 2.3% during the 2nd 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 acquiring an additional 464,781 shares during the last quarter. Modera Wealth Management LLC purchased a new position in EQT during the 3rd quarter worth $562,494,000. Finally, Clearbridge Investments LLC boosted its holdings in 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 worth $335,952,000 after acquiring an additional 253,186 shares during the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

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.