EQT Corporation (NYSE:EQT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of EQT Corporation (NYSE:EQT) have earned an average recommendation of “Moderate Buy” from the twenty-eight research firms that are covering the company, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation, twenty have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $68.6667.

A number of brokerages have recently commented on EQT. Royal Bank Of Canada reissued a “sector perform” rating and set a $69.00 price objective on shares of EQT in a report on Wednesday, April 15th. Capital One Financial increased their price objective on EQT from $64.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Roth Mkm reissued a “neutral” rating on shares of EQT in a report on Tuesday, April 14th. Evercore increased their price objective on EQT from $60.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Finally, Truist Financial began coverage on EQT in a report on Tuesday, March 24th. They set a “buy” rating and a $74.00 price objective on the stock.

EQT Stock Performance

Shares of EQT stock opened at $51.78 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.66 and a quick ratio of 0.66. EQT has a fifty-two week low of $48.47 and a fifty-two week high of $68.24. The stock’s 50-day moving average is $55.77 and its two-hundred day moving average is $57.14. The firm has a market cap of $32.39 billion, a P/E ratio of 9.83 and a beta of 0.55.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, April 21st. The oil and gas producer reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.32. The business had revenue of $3.14 billion for the quarter, compared to analyst estimates 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 prior year, the firm posted $1.18 EPS. Analysts predict that EQT will post 4.7 earnings per share for the current fiscal year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Wednesday, May 6th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.3%. EQT’s dividend payout ratio is currently 12.52%.

Insider Activity at EQT

In other EQT news, CEO Toby Z. Rice sold 1,731 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $53.46, for a total value of $92,539.26. Following the sale, the chief executive officer owned 2,333,193 shares of the company’s stock, valued at $124,732,497.78. This trade represents a 0.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vicky A. Bailey sold 4,116 shares of the firm’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. In the last 90 days, insiders have sold 102,830 shares of company stock valued at $5,602,913. 0.72% of the stock is owned by corporate insiders.

Institutional Trading of EQT

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC grew its holdings in EQT by 4.7% in the 1st quarter. Parallel Advisors LLC now owns 19,965 shares of the oil and gas producer’s stock valued at $1,271,000 after buying an additional 890 shares during the last quarter. Glenmede Trust Co. NA grew its holdings in EQT by 112.2% in the 1st quarter. Glenmede Trust Co. NA now owns 40,189 shares of the oil and gas producer’s stock valued at $2,558,000 after buying an additional 21,249 shares during the last quarter. Montchanin Asset Management LLC acquired a new stake in EQT in the 1st quarter valued at approximately $260,000. Arkadios Wealth Advisors acquired a new stake in EQT in the 1st quarter valued at approximately $220,000. Finally, Adalta Capital Management LLC grew its holdings in EQT by 26.9% in the 1st quarter. Adalta Capital Management LLC now owns 17,670 shares of the oil and gas producer’s stock valued at $1,125,000 after buying an additional 3,750 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

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.