EQT (NYSE:EQT) Price Target Raised to $36.00

EQT (NYSE:EQT) had its price target increased by Piper Sandler from $35.00 to $36.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the oil and gas producer’s stock.

EQT has been the subject of a number of other research reports. Royal Bank of Canada restated a “sector perform” rating and set a $49.00 price target on shares of EQT in a report on Monday, January 6th. StockNews.com upgraded EQT to a “sell” rating in a report on Saturday, February 8th. Scotiabank downgraded shares of EQT from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $55.00 to $54.00 in a research note on Friday, January 17th. Truist Financial upped their price objective on EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Finally, The Goldman Sachs Group reiterated a “reduce” rating on shares of EQT in a report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $52.44.

EQT Price Performance

EQT stock opened at $46.96 on Thursday. EQT has a 1 year low of $30.02 and a 1 year high of $56.66. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. The firm has a market capitalization of $28.06 billion, a PE ratio of 117.40, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12. The business has a 50 day simple moving average of $50.58 and a 200-day simple moving average of $42.96.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.19. EQT had a return on equity of 4.35% and a net margin of 4.37%. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Equities research analysts anticipate that EQT will post 3.27 earnings per share for the current fiscal year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were issued a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend was Tuesday, February 18th. EQT’s payout ratio is 157.50%.

Institutional Investors Weigh In On EQT

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC grew its holdings in shares of EQT by 104.7% during the third quarter. Sanctuary Advisors LLC now owns 63,507 shares of the oil and gas producer’s stock worth $2,327,000 after purchasing an additional 32,484 shares during the last quarter. Retirement Systems of Alabama grew its stake in EQT by 36.7% during the 3rd quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer’s stock worth $4,878,000 after buying an additional 35,733 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in EQT by 44.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,555 shares of the oil and gas producer’s stock worth $2,379,000 after buying an additional 16,416 shares during the period. FMR LLC increased its position in EQT by 2.5% during the third quarter. FMR LLC now owns 1,133,197 shares of the oil and gas producer’s stock worth $41,520,000 after buying an additional 28,129 shares during the period. Finally, D.A. Davidson & CO. lifted its stake in EQT by 13.4% in the fourth quarter. D.A. Davidson & CO. now owns 6,467 shares of the oil and gas producer’s stock valued at $298,000 after buying an additional 762 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

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.