EQT (NYSE:EQT) Price Target Raised to $58.00

EQT (NYSE:EQT) had its price target boosted by JPMorgan Chase & Co. from $53.00 to $58.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an overweight rating on the oil and gas producer’s stock.

A number of other equities research analysts also recently weighed in on EQT. Wells Fargo & Company boosted their target price on EQT from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Bank of America started coverage on EQT in a research report on Monday, October 28th. They set a “buy” rating and a $50.00 price objective for the company. UBS Group upped their price objective on EQT from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. The Goldman Sachs Group upped their price objective on EQT from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, Piper Sandler increased their price target on EQT from $34.00 to $35.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $52.17.

EQT Trading Down 4.6 %

EQT stock opened at $50.15 on Thursday. The company has a market cap of $29.96 billion, a P/E ratio of 125.37, a PEG ratio of 0.64 and a beta of 1.08. EQT has a twelve month low of $30.02 and a twelve month high of $56.66. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. The business has a fifty day moving average of $49.67 and a 200-day moving average of $41.72.

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

EQT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be paid a dividend of $0.1575 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.26%. EQT’s dividend payout ratio (DPR) is currently 157.50%.

Insider Transactions at EQT

In other news, Director Thomas F. Karam sold 30,154 shares of the 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 transaction, the director now owns 201,608 shares in the company, valued at approximately $9,038,086.64. This trade represents a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.63% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On EQT

Large investors have recently made changes to their positions in the company. Sanctuary Advisors LLC increased its stake 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 period. Retirement Systems of Alabama increased its stake in shares of EQT by 36.7% during the third quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer’s stock worth $4,878,000 after purchasing an additional 35,733 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in EQT by 44.2% during the 4th 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 acquiring an additional 16,416 shares during the period. FMR LLC increased its stake in EQT by 2.5% during the 3rd quarter. FMR LLC now owns 1,133,197 shares of the oil and gas producer’s stock worth $41,520,000 after acquiring an additional 28,129 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in EQT by 15.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 41,508 shares of the oil and gas producer’s stock worth $1,914,000 after acquiring an additional 5,489 shares during the period. Institutional investors own 90.81% of the company’s stock.

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.