EQT (NYSE:EQT) Receives New Coverage from Analysts at TD Cowen

TD Cowen started coverage on shares of EQT (NYSE:EQT) in a research note published on Friday, MarketBeat reports. The brokerage issued a hold rating and a $43.00 price target on the oil and gas producer’s stock.

Several other equities analysts have also recently issued reports on EQT. Royal Bank of Canada restated an outperform rating and set a $46.00 price objective on shares of EQT in a research note on Tuesday, March 5th. Scotiabank upgraded EQT from a sector perform rating to a sector outperform rating and increased their price target for the company from $40.00 to $52.00 in a research report on Thursday, April 11th. Piper Sandler increased their price target on EQT from $45.00 to $47.00 and gave the company an overweight rating in a research report on Thursday, March 7th. Morgan Stanley raised their price objective on EQT from $37.00 to $49.00 and gave the stock an overweight rating in a research report on Wednesday, April 17th. Finally, Truist Financial decreased their price objective on EQT from $37.00 to $35.00 and set a hold rating for the company in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of Hold and a consensus target price of $43.38.

EQT Stock Performance

EQT stock opened at $37.99 on Friday. The stock has a market cap of $16.73 billion, a P/E ratio of 8.94 and a beta of 1.12. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.37. The stock has a 50 day moving average of $35.98 and a 200-day moving average of $38.02. EQT has a 52 week low of $30.84 and a 52 week high of $45.23.

EQT (NYSE:EQT) last released its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.48 EPS for the quarter, beating the consensus estimate of $0.47 by $0.01. EQT had a return on equity of 7.12% and a net margin of 25.12%. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the prior year, the business posted $0.42 EPS. The business’s revenue was up 17.6% on a year-over-year basis. On average, analysts expect that EQT will post 1.07 EPS for the current fiscal year.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 8th will be given a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.66%. The ex-dividend date is Tuesday, May 7th. EQT’s dividend payout ratio is currently 14.82%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. increased its position in shares of EQT by 33.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 232,912 shares of the oil and gas producer’s stock valued at $8,634,000 after purchasing an additional 58,566 shares during the period. Raymond James & Associates boosted its stake in EQT by 7.4% in the first quarter. Raymond James & Associates now owns 635,530 shares of the oil and gas producer’s stock worth $23,559,000 after purchasing an additional 43,922 shares in the last quarter. Dupree Financial Group LLC acquired a new position in EQT in the first quarter worth $6,573,000. Abundance Wealth Counselors boosted its stake in EQT by 4.5% in the first quarter. Abundance Wealth Counselors now owns 21,071 shares of the oil and gas producer’s stock worth $781,000 after purchasing an additional 910 shares in the last quarter. Finally, Norden Group LLC bought a new stake in shares of EQT during the first quarter worth $401,000. 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.