Stephens Boosts EQT (NYSE:EQT) Price Target to $47.00

EQT (NYSE:EQT) had its price objective boosted by Stephens from $46.00 to $47.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the oil and gas producer’s stock.

A number of other research firms have also issued reports on EQT. Truist Financial lowered their price target on EQT from $37.00 to $35.00 and set a hold rating on the stock in a report on Friday, April 5th. TD Cowen assumed coverage on EQT in a report on Friday, April 19th. They issued a hold rating and a $43.00 price objective on the stock. JPMorgan Chase & Co. reaffirmed a neutral rating and issued a $37.00 price objective (down previously from $39.00) on shares of EQT in a report on Wednesday, March 20th. The Goldman Sachs Group lowered their price objective on EQT from $48.00 to $43.00 and set a buy rating on the stock in a report on Tuesday, April 2nd. Finally, Sanford C. Bernstein raised EQT from an underperform rating to a market perform rating and lifted their price objective for the company from $27.00 to $34.00 in a report on Wednesday, April 10th. 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 data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $44.25.

EQT Stock Performance

NYSE EQT opened at $40.61 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 0.88 and a debt-to-equity ratio of 0.32. EQT has a 52-week low of $30.84 and a 52-week high of $45.23. The business’s 50-day moving average price is $36.43 and its 200 day moving average price is $37.99. The firm has a market cap of $17.93 billion, a P/E ratio of 29.43 and a beta of 1.12.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. EQT had a return on equity of 4.57% and a net margin of 10.96%. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the company posted $1.70 earnings per share. The business’s revenue was down 28.8% on a year-over-year basis. On average, equities research analysts expect that EQT will post 0.99 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. Stockholders of record on Wednesday, May 8th will be paid a dividend of $0.1575 per share. The ex-dividend date is Tuesday, May 7th. This represents a $0.63 annualized dividend and a dividend yield of 1.55%. EQT’s dividend payout ratio is presently 45.65%.

Institutional Trading of EQT

A number of institutional investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp boosted its position in EQT by 3.7% during the 3rd quarter. Fifth Third Bancorp now owns 7,363 shares of the oil and gas producer’s stock worth $299,000 after purchasing an additional 264 shares during the period. Allworth Financial LP raised its stake in shares of EQT by 26.9% in the 3rd quarter. Allworth Financial LP now owns 1,332 shares of the oil and gas producer’s stock valued at $54,000 after purchasing an additional 282 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in EQT by 0.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,672 shares of the oil and gas producer’s stock worth $1,285,000 after acquiring an additional 294 shares during the period. Huntington National Bank raised its stake in EQT by 20.0% during the third quarter. Huntington National Bank now owns 1,792 shares of the oil and gas producer’s stock worth $73,000 after acquiring an additional 299 shares during the period. Finally, UniSuper Management Pty Ltd raised its stake in EQT by 13.0% during the third quarter. UniSuper Management Pty Ltd now owns 2,600 shares of the oil and gas producer’s stock worth $106,000 after acquiring an additional 300 shares during the period. 90.81% of the stock is owned by hedge funds and other 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.