EQT (NYSE:EQT) Given New $34.00 Price Target at Piper Sandler

EQT (NYSE:EQT) had its target price raised by Piper Sandler from $32.00 to $34.00 in a report published on Monday, Benzinga reports. Piper Sandler currently has a neutral rating on the oil and gas producer’s stock.

A number of other brokerages also recently commented on EQT. Morgan Stanley reiterated an “overweight” rating and issued a $45.00 target price on shares of EQT in a report on Friday, September 13th. Scotiabank boosted their price target on EQT from $54.00 to $55.00 and gave the company a “sector outperform” rating in a research note on Friday, July 12th. JPMorgan Chase & Co. raised their price objective on EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Wells Fargo & Company upgraded EQT from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $40.00 to $42.00 in a research report on Wednesday, August 14th. Finally, Stephens raised their price target on shares of EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.61.

EQT Trading Up 1.1 %

EQT stock traded up $0.39 during midday trading on Monday, reaching $37.19. 135,434 shares of the company traded hands, compared to its average volume of 7,005,260. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. EQT has a 52-week low of $30.02 and a 52-week high of $44.47. The firm has a market capitalization of $16.42 billion, a price-to-earnings ratio of 43.81 and a beta of 1.06. The business has a 50 day moving average of $35.31 and a 200-day moving average of $36.61.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. EQT’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.30 earnings per share. As a group, sell-side analysts expect that EQT will post 1.42 earnings per share for the current fiscal year.

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th will be given a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Wednesday, November 6th. EQT’s dividend payout ratio is presently 75.00%.

Institutional Investors Weigh In On EQT

Institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its holdings in EQT by 3.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 27,034 shares of the oil and gas producer’s stock worth $1,002,000 after buying an additional 932 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in EQT by 1.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 896,602 shares of the oil and gas producer’s stock valued at $33,237,000 after purchasing an additional 13,234 shares in the last quarter. Norden Group LLC purchased a new position in EQT in the first quarter valued at approximately $401,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in EQT by 21.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 96,613 shares of the oil and gas producer’s stock worth $3,319,000 after purchasing an additional 16,891 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of EQT by 2.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 118,482 shares of the oil and gas producer’s stock worth $4,392,000 after buying an additional 2,594 shares during the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

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.