EQT (NYSE:EQT) Lowered to Equal Weight at Wells Fargo & Company

Wells Fargo & Company lowered shares of EQT (NYSE:EQT) from an overweight rating to an equal weight rating in a report released on Wednesday morning, MarketBeat.com reports. They currently have $37.00 price objective on the oil and gas producer’s stock, down from their previous price objective of $48.00.

Several other analysts have also issued reports on EQT. Scotiabank raised shares of EQT from a sector perform rating to a sector outperform rating and boosted their price target for the company from $40.00 to $52.00 in a research report on Thursday, April 11th. JPMorgan Chase & Co. reaffirmed a neutral rating and set a $37.00 target price (down previously from $39.00) on shares of EQT in a report on Wednesday, March 20th. The Goldman Sachs Group decreased their target price on shares of EQT from $48.00 to $43.00 and set a buy rating on the stock in a report on Tuesday, April 2nd. StockNews.com raised shares of EQT to a sell rating in a report on Tuesday, March 12th. Finally, Mizuho upped their target price on shares of EQT from $39.00 to $40.00 and gave the stock a neutral rating in a report on Tuesday. One 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 data from MarketBeat, the stock has an average rating of Hold and an average price target of $43.38.

EQT Stock Performance

Shares of EQT stock opened at $36.65 on Wednesday. The firm’s 50-day simple moving average is $35.92 and its two-hundred day simple moving average is $38.06. EQT has a 52 week low of $30.84 and a 52 week high of $45.23. 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 market cap of $16.14 billion, a price-to-earnings ratio of 8.62 and a beta of 1.12.

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, beating the consensus estimate of $0.47 by $0.01. EQT had a net margin of 25.12% and a return on equity of 7.12%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the firm posted $0.42 earnings per share. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. As a group, equities analysts forecast that EQT will post 1.4 earnings per share for the current year.

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th will be paid a $0.1575 dividend. The ex-dividend date is Tuesday, May 7th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.72%. EQT’s dividend payout ratio (DPR) is 14.82%.

Institutional Investors Weigh In On EQT

A number of institutional investors have recently made changes to their positions in the business. Dupree Financial Group LLC purchased a new stake in shares of EQT in the 1st quarter valued at $6,573,000. Abundance Wealth Counselors boosted its stake in shares of EQT by 4.5% in the 1st quarter. Abundance Wealth Counselors now owns 21,071 shares of the oil and gas producer’s stock valued at $781,000 after purchasing an additional 910 shares in the last quarter. Norden Group LLC purchased a new stake in shares of EQT in the 1st quarter valued at $401,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of EQT by 1.5% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 896,602 shares of the oil and gas producer’s stock valued at $33,237,000 after purchasing an additional 13,234 shares in the last quarter. Finally, SteelPeak Wealth LLC raised its holdings in EQT by 116.3% during the 1st quarter. SteelPeak Wealth LLC now owns 57,527 shares of the oil and gas producer’s stock valued at $2,133,000 after buying an additional 30,927 shares during the last quarter. Hedge funds and other institutional investors 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.