BMO Capital Markets Cuts EQT (NYSE:EQT) Price Target to $70.00

EQT (NYSE:EQT) had its price objective cut by BMO Capital Markets from $76.00 to $70.00 in a report issued on Wednesday,MarketScreener reports. They currently have an outperform rating on the oil and gas producer’s stock.

Several other research analysts also recently commented on EQT. Citigroup boosted their target price on EQT from $66.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Evercore boosted their target price on EQT from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Roth Mkm reissued a “neutral” rating on shares of EQT in a research note on Tuesday, April 14th. Barclays upped their price objective on EQT from $67.00 to $69.00 and gave the company an “overweight” rating in a research note on Monday, March 16th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $69.00 price objective on shares of EQT in a research note on Wednesday, April 15th. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, EQT presently has a consensus rating of “Moderate Buy” and an average target price of $68.83.

EQT Stock Down 0.7%

EQT stock opened at $56.16 on Wednesday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.19. The company has a market cap of $35.12 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 0.96 and a beta of 0.59. EQT has a 52 week low of $48.47 and a 52 week high of $68.24. The business has a 50-day simple moving average of $60.55 and a 200 day simple moving average of $57.77.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, April 21st. The oil and gas producer reported $2.33 EPS for the quarter, topping the consensus estimate of $2.01 by $0.32. The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.14 billion. EQT had a return on equity of 9.74% and a net margin of 31.94%.During the same quarter in the previous year, the firm earned $1.18 earnings per share. Sell-side analysts anticipate that EQT will post 4.69 EPS for the current fiscal year.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Wednesday, May 6th will be issued a $0.165 dividend. The ex-dividend date is Wednesday, May 6th. This represents a $0.66 annualized dividend and a yield of 1.2%. EQT’s dividend payout ratio is presently 12.52%.

Insider Buying and Selling

In related news, insider Lesley Evancho sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $60.69, for a total value of $1,213,800.00. Following the sale, the insider directly owned 184,607 shares in the company, valued at $11,203,798.83. This represents a 9.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Vicky A. Bailey sold 4,116 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $59.80, for a total value of $246,136.80. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 65,274 shares of company stock valued at $3,989,120. Insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On EQT

A number of institutional investors and hedge funds have recently modified their holdings of EQT. Greykasell Wealth Strategies Inc. bought a new position in shares of EQT during the 4th quarter worth approximately $26,000. Aventura Private Wealth LLC bought a new position in shares of EQT during the 4th quarter worth approximately $31,000. Fortitude Family Office LLC boosted its holdings in shares of EQT by 95.6% during the 4th quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 280 shares in the last quarter. Elyxium Wealth LLC bought a new position in shares of EQT during the 4th quarter worth approximately $49,000. Finally, Root Financial Partners LLC boosted its holdings in shares of EQT by 35.4% during the 1st quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer’s stock worth $49,000 after buying an additional 202 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors.

About EQT

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.