EQT (NYSE:EQT) Cut to “Sell” at StockNews.com

StockNews.com lowered shares of EQT (NYSE:EQT) from a hold rating to a sell rating in a report issued on Monday morning.

Several other analysts have also recently weighed in on the company. The Goldman Sachs Group reissued a “reduce” rating on shares of EQT in a report on Wednesday, February 12th. Sanford C. Bernstein raised EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price target on the stock in a research report on Wednesday, January 15th. Truist Financial lifted their price objective on shares of EQT from $41.00 to $56.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $49.00 price objective on shares of EQT in a research note on Monday, January 6th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $67.00 price objective (up previously from $63.00) on shares of EQT in a research note on Wednesday, March 26th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, EQT has an average rating of “Moderate Buy” and a consensus target price of $55.72.

EQT Price Performance

NYSE:EQT opened at $50.07 on Monday. EQT has a 12-month low of $30.02 and a 12-month high of $56.66. The firm has a market capitalization of $29.92 billion, a price-to-earnings ratio of 125.19, a P/E/G ratio of 0.64 and a beta of 1.35. The stock’s 50 day moving average price is $51.06 and its two-hundred day moving average price is $45.99. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.19. EQT had a return on equity of 4.35% and a net margin of 4.37%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.81 billion. On average, analysts anticipate that EQT will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were given a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Tuesday, February 18th. EQT’s dividend payout ratio (DPR) is presently 157.50%.

Institutional Investors Weigh In On EQT

Several large investors have recently added to or reduced their stakes in the business. Invesco Ltd. boosted its holdings in shares of EQT by 46.3% during the 4th quarter. Invesco Ltd. now owns 13,143,774 shares of the oil and gas producer’s stock worth $606,059,000 after buying an additional 4,162,065 shares in the last quarter. Geode Capital Management LLC grew its holdings in EQT by 34.4% in the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after purchasing an additional 3,582,418 shares during the period. Allspring Global Investments Holdings LLC increased its stake in EQT by 386.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,347,660 shares of the oil and gas producer’s stock valued at $205,830,000 after purchasing an additional 3,454,741 shares in the last quarter. Slate Path Capital LP acquired a new position in shares of EQT during the fourth quarter valued at about $123,575,000. Finally, Castle Hook Partners LP boosted its position in shares of EQT by 199.5% during the 4th quarter. Castle Hook Partners LP now owns 3,990,714 shares of the oil and gas producer’s stock worth $184,012,000 after purchasing an additional 2,658,375 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Company Profile

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.