Piper Sandler Trims EQT (NYSE:EQT) Target Price to $41.00

EQT (NYSE:EQT) had its price objective reduced by Piper Sandler from $47.00 to $41.00 in a report published on Friday, Benzinga reports. They currently have an overweight rating on the oil and gas producer’s stock.

Several other research firms have also weighed in on EQT. The Goldman Sachs Group reduced their target price on EQT from $48.00 to $43.00 and set a buy rating for the company in a report on Tuesday, April 2nd. StockNews.com upgraded EQT to a sell rating in a report on Tuesday, March 12th. TD Cowen started coverage on EQT in a report on Friday. They issued a hold rating and a $43.00 target price for the company. Sanford C. Bernstein upgraded EQT from an underperform rating to a market perform rating and upped their price target for the stock from $27.00 to $34.00 in a report on Wednesday, April 10th. Finally, Wells Fargo & Company lowered EQT from an overweight rating to an equal weight rating and cut their price target for the stock from $48.00 to $37.00 in a report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus target price of $43.38.

EQT Stock Up 3.7 %

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

EQT (NYSE:EQT) last posted its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.48 earnings per share 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 firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the company earned $0.42 EPS. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. On average, equities research analysts expect that EQT will post 1.07 earnings per share for the current fiscal year.

EQT Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Tuesday, May 7th. EQT’s dividend payout ratio (DPR) is 14.82%.

Institutional Trading of EQT

Large investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. boosted its stake in EQT by 33.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 232,912 shares of the oil and gas producer’s stock worth $8,634,000 after purchasing an additional 58,566 shares in the last quarter. 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 acquired a new position in EQT in the first quarter worth $401,000. 90.81% of the stock is currently owned by institutional investors.

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.