EQT (NYSE:EQT) Price Target Raised to $42.00

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

Other research analysts have also recently issued research reports about the company. Piper Sandler cut EQT from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $43.00 to $32.00 in a research report on Thursday, August 15th. Scotiabank raised their price target on EQT from $54.00 to $55.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 12th. Stephens raised their price target on EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Citigroup upgraded EQT from a “neutral” rating to a “buy” rating and raised their price target for the stock from $37.00 to $44.00 in a research report on Thursday, October 3rd. Finally, Truist Financial decreased their price target on EQT from $36.00 to $32.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.83.

EQT Trading Up 7.5 %

Shares of EQT stock opened at $40.20 on Monday. The business has a fifty day simple moving average of $35.56 and a two-hundred day simple moving average of $36.64. EQT has a 1 year low of $30.02 and a 1 year high of $42.44. The company has a market capitalization of $17.75 billion, a price-to-earnings ratio of 47.86 and a beta of 1.06. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51.

EQT (NYSE:EQT) last posted its quarterly earnings data 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. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.30 EPS. Research analysts forecast that EQT will post 1.42 EPS for the current year.

EQT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders 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 dividend yield of 1.57%. The ex-dividend date of this dividend is Wednesday, November 6th. EQT’s payout ratio is 75.00%.

Institutional Trading of EQT

A number of hedge funds have recently made changes to their positions in EQT. HM Payson & Co. acquired a new stake in shares of EQT during the third quarter valued at about $25,000. Innealta Capital LLC acquired a new stake in shares of EQT during the second quarter valued at about $28,000. Hexagon Capital Partners LLC lifted its stake in shares of EQT by 18,080.0% in the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 904 shares during the period. Wolff Wiese Magana LLC lifted its stake in shares of EQT by 936.1% in the second 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. lifted its stake in shares of EQT by 149.5% in the second quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 598 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

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.