EQT (NYSE:EQT) Price Target Cut to $43.00

EQT (NYSE:EQT) had its target price lowered by Mizuho from $45.00 to $43.00 in a research note published on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the oil and gas producer’s stock.

A number of other brokerages have also commented on EQT. Jefferies Financial Group lifted their price objective on EQT from $43.00 to $48.00 and gave the stock a buy rating in a research report on Tuesday, June 4th. Morgan Stanley reissued an overweight rating and set a $45.00 price target on shares of EQT in a research note on Friday, September 13th. StockNews.com raised shares of EQT to a sell rating in a research note on Friday, July 26th. JPMorgan Chase & Co. dropped their target price on shares of EQT from $42.00 to $37.00 and set an overweight rating for the company in a research report on Thursday, September 12th. Finally, Scotiabank raised their price target on EQT from $54.00 to $55.00 and gave the stock a sector outperform rating in a research report on Friday, July 12th. One investment 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, EQT currently has a consensus rating of Hold and an average price target of $43.28.

EQT Trading Up 3.6 %

Shares of NYSE EQT opened at $34.73 on Monday. EQT has a 1-year low of $30.02 and a 1-year high of $45.23. The company has a 50-day moving average of $33.33 and a two-hundred day moving average of $36.47. The company has a market cap of $15.34 billion, a PE ratio of 25.17 and a beta of 1.06. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.12. The firm had revenue of $952.51 million for the quarter, compared to the consensus estimate of $1.06 billion. EQT had a return on equity of 4.52% and a net margin of 12.45%. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.17) EPS. As a group, equities analysts expect that EQT will post 1.44 earnings per share for the current fiscal year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a $0.1575 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.63 annualized dividend and a yield of 1.81%. EQT’s dividend payout ratio is currently 45.65%.

Hedge Funds Weigh In On EQT

Large investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new stake in shares of EQT in the second quarter valued at about $1,260,000. Strategic Investment Solutions Inc. IL bought a new stake in EQT in the 2nd quarter valued at approximately $67,000. Clearbridge Investments LLC boosted its position in EQT by 2.9% during the 2nd quarter. Clearbridge Investments LLC now owns 9,084,686 shares of the oil and gas producer’s stock worth $335,952,000 after acquiring an additional 253,186 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of EQT by 5.8% during the 2nd quarter. Cetera Investment Advisers now owns 64,870 shares of the oil and gas producer’s stock worth $2,399,000 after acquiring an additional 3,536 shares in the last quarter. Finally, Truist Financial Corp raised its holdings in shares of EQT by 18.0% in the second quarter. Truist Financial Corp now owns 21,399 shares of the oil and gas producer’s stock valued at $791,000 after purchasing an additional 3,261 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

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.