EQT (NYSE:EQT) PT Raised to $40.00

EQT (NYSE:EQT) had its target price raised by Mizuho from $39.00 to $40.00 in a research report released on Tuesday morning, Benzinga reports. The firm currently has a neutral rating on the oil and gas producer’s stock.

Several other analysts have also recently issued reports on EQT. The Goldman Sachs Group reduced their price target on shares of EQT from $48.00 to $43.00 and set a buy rating on the stock in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. restated a neutral rating and issued a $37.00 price target (down previously from $39.00) on shares of EQT in a research note on Wednesday, March 20th. Piper Sandler upped their price objective on EQT from $45.00 to $47.00 and gave the stock an overweight rating in a research report on Thursday, March 7th. StockNews.com upgraded EQT to a sell rating in a report on Tuesday, March 12th. Finally, Jefferies Financial Group upped their price target on EQT from $42.00 to $43.00 and gave the stock a buy rating in a report on Friday, April 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $43.38.

EQT Stock Up 1.2 %

EQT stock opened at $36.65 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a 50 day moving average price of $35.92 and a 200 day moving average price of $38.06. EQT has a fifty-two week low of $30.84 and a fifty-two week high of $45.23. The company has a market capitalization of $16.14 billion, a PE ratio of 8.62 and a beta of 1.12.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the previous year, the firm posted $0.42 earnings per share. The company’s revenue was up 17.6% on a year-over-year basis. Research analysts expect that EQT will post 1.4 earnings per share for the current year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 8th will be issued 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 yield of 1.72%. EQT’s payout ratio is currently 14.82%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its position in EQT by 6.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 52,883,676 shares of the oil and gas producer’s stock valued at $2,044,484,000 after acquiring an additional 3,159,700 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of EQT by 4.5% in the fourth quarter. Vanguard Group Inc. now owns 46,922,862 shares of the oil and gas producer’s stock valued at $1,814,038,000 after acquiring an additional 2,023,222 shares during the period. Wellington Management Group LLP grew its position in shares of EQT by 3.2% during the fourth quarter. Wellington Management Group LLP now owns 20,320,219 shares of the oil and gas producer’s stock worth $785,580,000 after acquiring an additional 632,625 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of EQT by 6.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 18,037,923 shares of the oil and gas producer’s stock valued at $731,979,000 after acquiring an additional 1,098,211 shares during the period. Finally, Capital World Investors raised its position in EQT by 1.5% in the 4th quarter. Capital World Investors now owns 17,425,711 shares of the oil and gas producer’s stock valued at $673,678,000 after purchasing an additional 265,297 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

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.