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

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

Several other brokerages have also recently issued reports on EQT. Jefferies Financial Group raised their price objective on EQT from $43.00 to $48.00 and gave the stock a buy rating in a research note on Tuesday, June 4th. Scotiabank raised their price objective on EQT from $54.00 to $55.00 and gave the stock a sector outperform rating in a research note on Friday, July 12th. Truist Financial reduced their price objective on EQT from $36.00 to $32.00 and set a hold rating on the stock in a research note on Monday, July 22nd. JPMorgan Chase & Co. reduced their price objective on EQT from $42.00 to $37.00 and set an overweight rating on the stock in a research note on Thursday, September 12th. Finally, Piper Sandler cut EQT from an overweight rating to a neutral rating and reduced their price objective for the stock from $43.00 to $32.00 in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, EQT presently has an average rating of Hold and a consensus target price of $43.28.

EQT Stock Up 0.3 %

Shares of NYSE:EQT opened at $34.83 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.33. EQT has a 52-week low of $30.02 and a 52-week high of $45.23. The company has a 50 day moving average of $33.28 and a two-hundred day moving average of $36.44. The company has a market capitalization of $15.38 billion, a price-to-earnings ratio of 25.24 and a beta of 1.06.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.12. EQT had a net margin of 12.45% and a return on equity of 4.52%. The business had revenue of $952.51 million during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the company earned ($0.17) earnings per share. The business’s quarterly revenue was down 6.5% compared to the same quarter last year. As a group, analysts forecast that EQT will post 1.44 earnings per share for the current fiscal year.

EQT Announces Dividend

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

Institutional Investors Weigh In On EQT

Hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System raised its stake in shares of EQT by 3.6% during the fourth quarter. California State Teachers Retirement System now owns 538,463 shares of the oil and gas producer’s stock valued at $20,817,000 after purchasing an additional 18,804 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of EQT by 421.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 64,900 shares of the oil and gas producer’s stock valued at $2,509,000 after purchasing an additional 52,443 shares in the last quarter. Cibc World Markets Corp raised its stake in shares of EQT by 162.4% during the fourth quarter. Cibc World Markets Corp now owns 52,370 shares of the oil and gas producer’s stock valued at $2,025,000 after purchasing an additional 32,409 shares in the last quarter. Third Point LLC bought a new stake in shares of EQT during the fourth quarter valued at about $75,387,000. Finally, Cetera Investment Advisers bought a new stake in shares of EQT during the first quarter valued at about $2,274,000. 90.81% of the stock is currently owned by institutional investors.

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.