EQT (NYSE:EQT) Price Target Raised to $54.00

EQT (NYSE:EQT) had its price target hoisted by UBS Group from $49.00 to $54.00 in a research report report published on Thursday morning,Benzinga reports. UBS Group currently has a neutral rating on the oil and gas producer’s stock.

Other equities analysts have also issued reports about the company. Jefferies Financial Group lifted their price objective on EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. The Goldman Sachs Group lifted their price objective on EQT from $59.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup lifted their price objective on EQT from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Stephens lifted their price objective on EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Bank of America began coverage on EQT in a research note on Monday, October 28th. They issued a “buy” rating and a $50.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.89.

EQT Price Performance

NYSE EQT opened at $53.49 on Thursday. EQT has a fifty-two week low of $30.02 and a fifty-two week high of $54.85. The stock’s 50-day moving average is $48.85 and its two-hundred day moving average is $41.07. 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 $31.91 billion, a P/E ratio of 63.67, a price-to-earnings-growth ratio of 0.62 and a beta of 1.08.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th will be issued a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Tuesday, February 18th. EQT’s payout ratio is 75.00%.

Insider Buying and Selling at EQT

In other EQT news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the sale, the director now directly owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. The trade was a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Manatuck Hill Partners LLC acquired a new position in shares of EQT in the 4th quarter worth approximately $286,000. Foursixthree Capital LP acquired a new position in shares of EQT in the 4th quarter worth approximately $13,339,000. Third Point LLC boosted its holdings in shares of EQT by 51.3% in the 4th quarter. Third Point LLC now owns 2,950,000 shares of the oil and gas producer’s stock worth $136,024,000 after acquiring an additional 1,000,000 shares in the last quarter. Freestone Grove Partners LP acquired a new position in shares of EQT in the 4th quarter worth approximately $23,851,000. Finally, Comerica Bank boosted its holdings in shares of EQT by 3.9% in the 4th quarter. Comerica Bank now owns 112,843 shares of the oil and gas producer’s stock worth $5,203,000 after acquiring an additional 4,195 shares in the last quarter. 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.