EQT (NYSE:EQT) Shares Down 9.1%

Shares of EQT Co. (NYSE:EQTGet Rating) traded down 9.1% during mid-day trading on Friday . The company traded as low as $40.45 and last traded at $40.56. 107,670 shares traded hands during trading, a decline of 99% from the average session volume of 7,198,155 shares. The stock had previously closed at $44.63.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. TD Securities upped their target price on shares of EQT from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, September 9th. Wells Fargo & Company upped their target price on shares of EQT from $51.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday, July 11th. Piper Sandler boosted their price target on shares of EQT from $58.00 to $59.00 and gave the stock an “overweight” rating in a research note on Friday, July 22nd. StockNews.com raised shares of EQT from a “sell” rating to a “hold” rating in a research note on Wednesday, August 3rd. Finally, Morgan Stanley dropped their price target on shares of EQT from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Tuesday, July 19th. One research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $56.63.

EQT Price Performance

The company has a market cap of $15.15 billion, a price-to-earnings ratio of -14.75, a PEG ratio of 0.19 and a beta of 1.15. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.51. The company’s fifty day moving average price is $45.46 and its two-hundred day moving average price is $40.63.

EQT (NYSE:EQTGet Rating) last released its quarterly earnings results on Wednesday, July 27th. The oil and gas producer reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.02. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.63 billion. The firm’s quarterly revenue was up 61.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.07 EPS. On average, equities research analysts forecast that EQT Co. will post 4.08 EPS for the current fiscal year.

EQT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Tuesday, August 9th were issued a dividend of $0.15 per share. This is a boost from EQT’s previous quarterly dividend of $0.13. The ex-dividend date was Monday, August 8th. This represents a $0.60 annualized dividend and a yield of 1.46%. EQT’s dividend payout ratio is presently -22.06%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its stake in EQT by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,956,234 shares of the oil and gas producer’s stock valued at $64,476,000 after acquiring an additional 68,219 shares during the last quarter. Geode Capital Management LLC lifted its stake in EQT by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 3,951,745 shares of the oil and gas producer’s stock valued at $86,187,000 after acquiring an additional 105,916 shares during the last quarter. Schroder Investment Management Group lifted its stake in EQT by 101.5% in the fourth quarter. Schroder Investment Management Group now owns 14,654 shares of the oil and gas producer’s stock valued at $320,000 after acquiring an additional 7,383 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in EQT by 46.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 15,680 shares of the oil and gas producer’s stock valued at $341,000 after acquiring an additional 4,947 shares during the last quarter. Finally, Summit Global Investments acquired a new stake in EQT in the fourth quarter valued at $1,043,000. Institutional investors and hedge funds own 95.63% of the company’s stock.

About EQT

(Get Rating)

EQT Corporation operates as a natural gas production company in the United States. The company produces natural gas, natural gas liquids (NGLs), including ethane, propane, isobutane, butane, and natural gasoline. As of December 31, 2021, it had 25.0 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 2.0 million gross acres, including 1.7 million gross acres in the Marcellus play.

Further Reading

Receive News & Ratings for EQT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQT and related companies with MarketBeat.com's FREE daily email newsletter.