EQT (NYSE:EQT) Price Target Cut to $43.00 by Analysts at Piper Sandler

EQT (NYSE:EQT) had its target price decreased by Piper Sandler from $47.00 to $43.00 in a research note published on Thursday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the oil and gas producer’s stock.

Other equities analysts have also recently issued research reports about the company. Mizuho lifted their price objective on EQT from $43.00 to $45.00 and gave the company a neutral rating in a research note on Monday, May 13th. The Goldman Sachs Group decreased their price objective on EQT from $48.00 to $43.00 and set a buy rating for the company in a research note on Tuesday, April 2nd. TD Cowen initiated coverage on EQT in a research note on Friday, April 19th. They issued a hold rating and a $43.00 price objective for the company. Stephens decreased their price objective on EQT from $47.00 to $46.00 and set an equal weight rating for the company in a research note on Wednesday, July 24th. Finally, Wolfe Research initiated coverage on EQT in a research note on Thursday, July 18th. They issued an outperform rating and a $51.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $45.50.

EQT Stock Down 0.2 %

Shares of NYSE:EQT opened at $34.31 on Thursday. The business has a 50-day moving average price of $38.32 and a 200 day moving average price of $37.29. The company has a current ratio of 0.73, a quick ratio of 0.88 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $15.15 billion, a price-to-earnings ratio of 24.86 and a beta of 1.12. EQT has a 12-month low of $32.07 and a 12-month high of $45.23.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.12. EQT had a return on equity of 4.52% and a net margin of 12.45%. The firm had revenue of $952.51 million during the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the company earned ($0.17) EPS. The company’s quarterly revenue was down 6.5% on a year-over-year basis. Sell-side analysts expect that EQT will post 1.41 EPS for the current year.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be issued a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Wednesday, August 7th. EQT’s dividend payout ratio is presently 45.65%.

Insiders Place Their Bets

In other news, insider Lesley Evancho sold 46,884 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $41.29, for a total transaction of $1,935,840.36. Following the sale, the insider now directly owns 160,884 shares in the company, valued at approximately $6,642,900.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Lesley Evancho sold 46,884 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $41.29, for a total transaction of $1,935,840.36. Following the sale, the insider now directly owns 160,884 shares in the company, valued at approximately $6,642,900.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William E. Jordan sold 35,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $40.72, for a total value of $1,425,200.00. Following the sale, the executive vice president now owns 456,837 shares in the company, valued at $18,602,402.64. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On EQT

A number of hedge funds have recently modified their holdings of EQT. Private Wealth Management Group LLC acquired a new position in shares of EQT in the 4th quarter worth $30,000. Wolff Wiese Magana LLC grew its holdings in shares of EQT by 936.1% during the second quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock valued at $37,000 after buying an additional 908 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of EQT by 149.5% during the second quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock valued at $37,000 after buying an additional 598 shares in the last quarter. Principal Securities Inc. purchased a new position in shares of EQT during the fourth quarter valued at $51,000. Finally, EntryPoint Capital LLC purchased a new position in shares of EQT during the first quarter valued at $54,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

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.