EQT (NYSE:EQT) Price Target Cut to $41.00 by Analysts at Piper Sandler

EQT (NYSE:EQT) had its price objective cut by Piper Sandler from $47.00 to $41.00 in a report published on Friday morning, Benzinga reports. They currently have an overweight rating on the oil and gas producer’s stock.

Other analysts also recently issued research reports about the stock. Mizuho boosted their target price on shares of EQT from $39.00 to $40.00 and gave the stock a neutral rating in a research report on Tuesday. Jefferies Financial Group upped their price objective on shares of EQT from $42.00 to $43.00 and gave the stock a buy rating in a research report on Friday, April 5th. JPMorgan Chase & Co. reiterated a neutral rating and issued a $37.00 target price (down from $39.00) on shares of EQT in a research report on Wednesday, March 20th. Sanford C. Bernstein raised shares of EQT from an underperform rating to a market perform rating and upped their price objective for the company from $27.00 to $34.00 in a report on Wednesday, April 10th. Finally, Wells Fargo & Company lowered shares of EQT from an overweight rating to an equal weight rating and lowered their target price for the stock from $48.00 to $37.00 in a research note on Wednesday. One equities research 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’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average target price of $43.38.

EQT Trading Up 1.2 %

NYSE:EQT opened at $36.65 on Friday. EQT has a one year low of $30.84 and a one year 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 P/E ratio of 8.62 and a beta of 1.12. The firm has a 50-day simple moving average of $35.92 and a 200-day simple moving average of $38.06.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, February 13th. The oil and gas producer reported $0.48 EPS for the quarter, beating the consensus estimate of $0.47 by $0.01. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.58 billion. EQT had a net margin of 25.12% and a return on equity of 7.12%. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 EPS. Equities analysts anticipate that EQT will post 1.34 EPS for the current fiscal year.

EQT Dividend Announcement

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

Institutional Trading of EQT

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EQT. Private Wealth Management Group LLC acquired a new stake in EQT during the fourth quarter worth approximately $30,000. Laurel Wealth Advisors LLC purchased a new stake in shares of EQT during the 2nd quarter worth $33,000. BKM Wealth Management LLC acquired a new position in shares of EQT during the 4th quarter worth $40,000. Belpointe Asset Management LLC raised its stake in shares of EQT by 270.0% during the 1st quarter. Belpointe Asset Management LLC now owns 1,258 shares of the oil and gas producer’s stock worth $40,000 after buying an additional 918 shares during the last quarter. Finally, Tyler Stone Wealth Management acquired a new position in shares of EQT during the 2nd quarter worth $40,000. Institutional investors and hedge funds 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.