EQT (NYSE:EQT) Price Target Raised to $48.00

EQT (NYSE:EQT) had its target price raised by Mizuho from $45.00 to $48.00 in a report published on Tuesday,Benzinga reports. The firm currently has a neutral rating on the oil and gas producer’s stock.

A number of other equities analysts have also recently weighed in on EQT. BMO Capital Markets upped their price objective on shares of EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Piper Sandler increased their price target on EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, November 4th. JPMorgan Chase & Co. lifted their price objective on EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. Truist Financial increased their target price on EQT from $32.00 to $41.00 and gave the company a “hold” rating in a research note on Tuesday. Finally, Stephens lifted their price target on shares of EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, EQT has an average rating of “Moderate Buy” and an average target price of $44.67.

EQT Price Performance

Shares of NYSE EQT opened at $45.28 on Tuesday. The company has a market capitalization of $27.02 billion, a price-to-earnings ratio of 53.91 and a beta of 1.06. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. EQT has a 1-year low of $30.02 and a 1-year high of $48.02. The business has a 50-day moving average of $39.14 and a 200-day moving average of $37.16.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter last year, the company earned $0.30 earnings per share. EQT’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, equities analysts anticipate that EQT will post 1.38 EPS for the current fiscal year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 6th will be given a dividend of $0.1575 per share. The ex-dividend date is Wednesday, November 6th. This represents a $0.63 dividend on an annualized basis and a yield of 1.39%. EQT’s dividend payout ratio is currently 75.00%.

Institutional Investors Weigh In On EQT

A number of hedge funds have recently added to or reduced their stakes in the stock. HM Payson & Co. acquired a new stake in shares of EQT in the 3rd quarter worth about $25,000. Innealta Capital LLC bought a new position in EQT in the 2nd quarter worth about $28,000. Truvestments Capital LLC acquired a new stake in shares of EQT in the third quarter valued at approximately $30,000. Quarry LP raised its holdings in shares of EQT by 184.7% during the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 578 shares during the last quarter. Finally, Hexagon Capital Partners LLC boosted its position in shares of EQT by 18,080.0% during the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 904 shares during the period. 90.81% of the stock is currently 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.