EQT (NYSE:EQT) Reaches New 12-Month High on Analyst Upgrade

EQT Co. (NYSE:EQT) reached a new 52-week high during trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $50.00 to $53.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. EQT traded as high as $48.33 and last traded at $48.06, with a volume of 725018 shares trading hands. The stock had previously closed at $47.35.

A number of other brokerages have also recently weighed in on EQT. StockNews.com raised EQT to a “sell” rating in a research report on Monday. Truist Financial upped their price target on EQT from $32.00 to $41.00 and gave the stock a “hold” rating in a report on Tuesday, November 26th. Morgan Stanley lifted their price objective on shares of EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Sanford C. Bernstein assumed coverage on shares of EQT in a report on Friday, December 6th. They issued a “market perform” rating and a $50.00 price objective on the stock. Finally, Wells Fargo & Company upped their price objective on shares of EQT from $42.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, EQT currently has a consensus rating of “Moderate Buy” and an average target price of $47.39.

Insider Activity

In other news, Director Thomas F. Karam sold 30,154 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total value of $1,351,803.82. Following the completion of the sale, the director now owns 201,608 shares in the company, valued at $9,038,086.64. This represents a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EQT. HM Payson & Co. purchased a new position in EQT during the 3rd quarter valued at about $25,000. Truvestments Capital LLC acquired a new position in shares of EQT during the 3rd quarter worth $30,000. Hexagon Capital Partners LLC boosted its position in EQT by 18,080.0% during the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 904 shares during the period. Quarry LP grew its position in shares of EQT by 184.7% in the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 578 shares during the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of EQT in the third quarter worth $36,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Stock Performance

The firm has a 50-day moving average of $43.22 and a 200 day moving average of $37.84. The stock has a market capitalization of $28.45 billion, a P/E ratio of 56.76 and a beta of 1.14. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. Research analysts anticipate that EQT Co. will post 1.37 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Wednesday, November 6th were given a dividend of $0.1575 per share. The ex-dividend date was Wednesday, November 6th. This represents a $0.63 annualized dividend and a yield of 1.32%. EQT’s dividend payout ratio (DPR) is 75.00%.

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.