Jefferies Financial Group Trims EQT (NYSE:EQT) Target Price to $42.00

EQT (NYSE:EQT) had its price objective decreased by Jefferies Financial Group from $50.00 to $42.00 in a report issued on Monday, Benzinga reports. Jefferies Financial Group currently has a buy rating on the oil and gas producer’s stock.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. reiterated a neutral rating and set a $37.00 target price (down from $39.00) on shares of EQT in a report on Wednesday, March 20th. Piper Sandler lifted their target price on EQT from $45.00 to $47.00 and gave the stock an overweight rating in a report on Thursday, March 7th. StockNews.com upgraded EQT to a sell rating in a report on Tuesday, March 12th. Morgan Stanley lifted their target price on EQT from $38.00 to $39.00 and gave the stock an overweight rating in a report on Wednesday, November 29th. Finally, Royal Bank of Canada reiterated an outperform rating and set a $46.00 target price on shares of EQT in a report on Tuesday, March 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $43.54.

EQT Stock Up 3.2 %

NYSE:EQT opened at $36.06 on Monday. EQT has a 12-month low of $29.94 and a 12-month high of $45.23. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $15.88 billion, a P/E ratio of 8.48 and a beta of 1.13. The stock’s fifty day simple moving average is $35.33 and its 200-day simple moving average is $38.51.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, February 13th. The oil and gas producer reported $0.48 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period last year, the company earned $0.42 EPS. The firm’s revenue was up 17.6% on a year-over-year basis. Equities research analysts expect that EQT will post 2.4 earnings per share for the current year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Tuesday, February 20th were issued a $0.1575 dividend. The ex-dividend date was Friday, February 16th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.75%. EQT’s dividend payout ratio (DPR) is 14.82%.

Institutional Trading of EQT

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Fifth Third Bancorp increased its position in shares of EQT by 3.7% in the third quarter. Fifth Third Bancorp now owns 7,363 shares of the oil and gas producer’s stock valued at $299,000 after acquiring an additional 264 shares during the last quarter. Allworth Financial LP increased its position in shares of EQT by 26.9% in the third quarter. Allworth Financial LP now owns 1,332 shares of the oil and gas producer’s stock valued at $54,000 after acquiring an additional 282 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of EQT by 0.9% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,672 shares of the oil and gas producer’s stock valued at $1,285,000 after acquiring an additional 294 shares during the last quarter. Huntington National Bank increased its position in shares of EQT by 20.0% in the third quarter. Huntington National Bank now owns 1,792 shares of the oil and gas producer’s stock valued at $73,000 after acquiring an additional 299 shares during the last quarter. Finally, Montchanin Asset Management LLC increased its position in shares of EQT by 2.1% in the second quarter. Montchanin Asset Management LLC now owns 14,500 shares of the oil and gas producer’s stock valued at $596,000 after acquiring an additional 300 shares during 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.