EQT (NYSE:EQT) Reaches New 12-Month High – Still a Buy?

Shares of EQT Co. (NYSE:EQT) hit a new 52-week high on Monday . The company traded as high as $42.82 and last traded at $42.78, with a volume of 327441 shares trading hands. The stock had previously closed at $41.22.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on EQT shares. UBS Group increased their price objective on EQT from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Wells Fargo & Company raised shares of EQT from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $40.00 to $42.00 in a research report on Wednesday, August 14th. Wolfe Research assumed coverage on shares of EQT in a research report on Thursday, July 18th. They set an “outperform” rating and a $51.00 price objective on the stock. BMO Capital Markets lifted their target price on shares of EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Finally, StockNews.com raised shares of EQT to a “sell” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, EQT currently has an average rating of “Moderate Buy” and a consensus price target of $42.83.

EQT Price Performance

The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. The stock has a fifty day simple moving average of $36.07 and a 200-day simple moving average of $36.69. The stock has a market cap of $26.12 billion, a price-to-earnings ratio of 52.12 and a beta of 1.06.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.06. The business had revenue of $1.28 billion for 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 quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company posted $0.30 earnings per share. As a group, equities research analysts expect that EQT Co. will post 1.34 EPS for the current year.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 6th will be paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Wednesday, November 6th. EQT’s payout ratio is presently 75.00%.

Hedge Funds Weigh In On EQT

Several institutional investors and hedge funds have recently added to or reduced their stakes in EQT. HM Payson & Co. acquired a new position in shares of EQT in the third quarter valued at $25,000. Innealta Capital LLC bought a new stake in EQT in the 2nd quarter valued at $28,000. Hexagon Capital Partners LLC raised its stake in shares of EQT by 18,080.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 904 shares in the last quarter. Wolff Wiese Magana LLC lifted 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 worth $37,000 after acquiring an additional 908 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of EQT by 149.5% during the 2nd quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 598 shares in the last quarter. 90.81% of the stock is currently owned by 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.