UBS Group Cuts EQT (NYSE:EQT) Price Target to $36.00

EQT (NYSE:EQT) had its price objective cut by UBS Group from $38.00 to $36.00 in a report published on Wednesday, Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock.

A number of other research analysts also recently commented on the stock. Morgan Stanley reaffirmed an overweight rating and set a $45.00 price objective on shares of EQT in a research report on Friday, September 13th. Citigroup reaffirmed a neutral rating and issued a $37.00 price objective on shares of EQT in a research note on Friday, August 23rd. JPMorgan Chase & Co. dropped their price target on shares of EQT from $42.00 to $37.00 and set an overweight rating on the stock in a research report on Thursday, September 12th. Wolfe Research initiated coverage on EQT in a research note on Thursday, July 18th. They set an outperform rating and a $51.00 target price for the company. Finally, Jefferies Financial Group raised their price target on shares of EQT from $43.00 to $48.00 and gave the stock a buy rating in a research report on Tuesday, June 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $43.28.

EQT Trading Up 0.3 %

NYSE EQT opened at $34.83 on Wednesday. The firm’s 50 day moving average price is $33.28 and its two-hundred day moving average price is $36.45. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.73 and a current ratio of 0.73. EQT has a twelve month low of $30.02 and a twelve month high of $45.23. The stock has a market cap of $15.38 billion, a price-to-earnings ratio of 25.24 and a beta of 1.06.

EQT (NYSE:EQT) last announced 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. 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 in the prior year, the business earned ($0.17) EPS. The business’s revenue for the quarter was down 6.5% on a year-over-year basis. Equities analysts anticipate that EQT will post 1.44 EPS for the current year.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were issued a dividend of $0.1575 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.63 dividend on an annualized basis and a yield of 1.81%. EQT’s payout ratio is currently 45.65%.

Hedge Funds Weigh In On EQT

A number of institutional investors have recently modified their holdings of EQT. Innealta Capital LLC bought a new position in EQT in the 2nd quarter valued at $28,000. Blue Trust Inc. grew its position in EQT by 149.5% in the second quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 598 shares in the last quarter. Wolff Wiese Magana LLC raised its holdings in shares of EQT by 936.1% during the 2nd 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. Principal Securities Inc. purchased a new stake in shares of EQT in the 4th quarter valued at $51,000. Finally, Industrial Alliance Investment Management Inc. increased its holdings in shares of EQT by 65.5% in the second quarter. Industrial Alliance Investment Management Inc. now owns 1,440 shares of the oil and gas producer’s stock worth $53,000 after buying an additional 570 shares during the period. 90.81% of the stock is 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.