UBS Group Raises EQT (NYSE:EQT) Price Target to $42.00

EQT (NYSE:EQT) had its price target hoisted by UBS Group from $40.00 to $42.00 in a report published on Monday,Benzinga reports. The firm currently has a neutral rating on the oil and gas producer’s stock.

Several other research analysts have also commented on the stock. Mizuho decreased their price objective on shares of EQT from $43.00 to $41.00 and set a “neutral” rating for the company in a report on Friday, October 4th. Citigroup raised EQT from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $37.00 to $44.00 in a research report on Thursday, October 3rd. Piper Sandler lowered EQT from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $43.00 to $32.00 in a research report on Thursday, August 15th. Wells Fargo & Company upgraded EQT from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $40.00 to $42.00 in a research report on Wednesday, August 14th. Finally, Morgan Stanley reissued an “overweight” rating and set a $45.00 price objective on shares of EQT in a research report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, EQT presently has an average rating of “Moderate Buy” and an average price target of $42.83.

EQT Price Performance

EQT stock opened at $40.69 on Monday. The stock has a market capitalization of $17.97 billion, a price-to-earnings ratio of 48.44 and a beta of 1.06. The firm’s 50-day moving average price is $35.56 and its two-hundred day moving average price is $36.64. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. EQT has a 12-month low of $30.02 and a 12-month high of $42.44.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the prior year, the company posted $0.30 EPS. EQT’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, equities analysts predict that EQT will post 1.39 earnings per share for the current year.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th will be paid a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Wednesday, November 6th. EQT’s payout ratio is 75.00%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of EQT. Davis Investment Partners LLC raised its stake in EQT by 1.0% during the 3rd quarter. Davis Investment Partners LLC now owns 30,908 shares of the oil and gas producer’s stock valued at $1,137,000 after purchasing an additional 317 shares during the period. Motley Fool Asset Management LLC lifted its holdings in shares of EQT by 5.1% in the first quarter. Motley Fool Asset Management LLC now owns 6,861 shares of the oil and gas producer’s stock worth $254,000 after buying an additional 336 shares in the last quarter. Hancock Whitney Corp lifted its holdings in shares of EQT by 3.0% in the first quarter. Hancock Whitney Corp now owns 14,603 shares of the oil and gas producer’s stock worth $541,000 after buying an additional 419 shares in the last quarter. J.W. Cole Advisors Inc. grew its stake in EQT by 7.4% during the third quarter. J.W. Cole Advisors Inc. now owns 6,121 shares of the oil and gas producer’s stock valued at $224,000 after acquiring an additional 421 shares in the last quarter. Finally, SeaBridge Investment Advisors LLC increased its holdings in EQT by 1.4% in the 2nd quarter. SeaBridge Investment Advisors LLC now owns 30,792 shares of the oil and gas producer’s stock valued at $1,139,000 after acquiring an additional 431 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.