Piper Sandler Trims EQT (NYSE:EQT) Target Price to $41.00

EQT (NYSE:EQT) had its price target cut by Piper Sandler from $47.00 to $41.00 in a report released on Friday, Benzinga reports. They currently have an overweight rating on the oil and gas producer’s stock.

Other analysts have also issued reports about the company. TD Cowen started coverage on EQT in a report on Friday. They set a hold rating and a $43.00 price objective for the company. Mizuho boosted their price objective on EQT from $39.00 to $40.00 and gave the stock a neutral rating in a report on Tuesday. The Goldman Sachs Group decreased their price objective on EQT from $48.00 to $43.00 and set a buy rating for the company in a report on Tuesday, April 2nd. Scotiabank raised EQT from a sector perform rating to a sector outperform rating and upped their target price for the company from $40.00 to $52.00 in a report on Thursday, April 11th. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $46.00 price objective on shares of EQT in a research note on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $43.38.

EQT Stock Up 1.2 %

Shares of NYSE:EQT opened at $36.65 on Friday. EQT has a 1 year low of $30.84 and a 1 year high of $45.23. The company has a market capitalization of $16.14 billion, a price-to-earnings ratio of 8.62 and a beta of 1.12. The business’s 50-day moving average is $35.92 and its 200-day moving average is $38.06. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.99.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.58 billion. EQT had a return on equity of 7.12% and a net margin of 25.12%. The firm’s revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 EPS. Equities research analysts predict that EQT will post 1.34 earnings per share for the current year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th will be paid a dividend of $0.1575 per share. The ex-dividend date is Tuesday, May 7th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.72%. EQT’s dividend payout ratio (DPR) is currently 14.82%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of EQT by 12.7% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 31,346 shares of the oil and gas producer’s stock worth $1,079,000 after purchasing an additional 3,541 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of EQT during the first quarter worth about $96,000. Great West Life Assurance Co. Can boosted its holdings in shares of EQT by 8.1% during the first quarter. Great West Life Assurance Co. Can now owns 166,448 shares of the oil and gas producer’s stock worth $5,891,000 after purchasing an additional 12,466 shares during the period. Raymond James Trust N.A. purchased a new stake in shares of EQT during the first quarter worth about $539,000. Finally, Blair William & Co. IL purchased a new stake in shares of EQT during the first quarter worth about $329,000. 90.81% of the stock is owned by 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.