EQT (NYSE:EQT) Given New $38.00 Price Target at Stephens

EQT (NYSE:EQT) had its price target hoisted by Stephens from $37.00 to $38.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an equal weight rating on the oil and gas producer’s stock.

A number of other equities research analysts have also recently commented on EQT. Piper Sandler cut shares of EQT from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $43.00 to $32.00 in a report on Thursday, August 15th. Citigroup upgraded shares of EQT from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $37.00 to $44.00 in a research note on Thursday, October 3rd. Wolfe Research began coverage on shares of EQT in a research note on Thursday, July 18th. They issued an “outperform” rating and a $51.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on shares of EQT from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Finally, Bank of America began coverage on shares of EQT in a research note on Monday. They issued a “buy” rating and a $50.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, EQT presently has an average rating of “Moderate Buy” and a consensus price target of $42.17.

EQT Price Performance

EQT stock opened at $38.57 on Wednesday. EQT has a 52 week low of $30.02 and a 52 week high of $45.23. The company’s 50 day moving average price is $35.13 and its two-hundred day moving average price is $36.60. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.33. The stock has a market cap of $17.03 billion, a P/E ratio of 27.95 and a beta of 1.06.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.35 billion. EQT had a net margin of 12.45% and a return on equity of 4.52%. EQT’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 EPS. On average, equities analysts predict that EQT will post 1.4 earnings per share for the current year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th will be paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Wednesday, November 6th. EQT’s dividend payout ratio is presently 45.65%.

Institutional Trading of EQT

Several hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its stake in EQT by 22.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock worth $2,405,007,000 after purchasing an additional 11,993,729 shares during the last quarter. Vanguard Group Inc. lifted its stake in EQT by 8.4% in the first quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock worth $1,885,590,000 after purchasing an additional 3,942,802 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in EQT by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer’s stock worth $752,487,000 after purchasing an additional 464,781 shares during the last quarter. Modera Wealth Management LLC bought a new position in shares of EQT during the third quarter valued at about $562,494,000. Finally, Clearbridge Investments LLC raised its stake in shares of EQT by 2.9% during the second quarter. Clearbridge Investments LLC now owns 9,084,686 shares of the oil and gas producer’s stock valued at $335,952,000 after acquiring an additional 253,186 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

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.