EQT’s (EQT) “Sector Perform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of EQT (NYSE:EQT) in a research note published on Tuesday, MarketBeat reports. They currently have a $49.00 price target on the oil and gas producer’s stock.

EQT has been the subject of several other reports. Bank of America began coverage on shares of EQT in a research note on Monday, October 28th. They issued a “buy” rating and a $50.00 target price for the company. Citigroup upgraded shares of EQT from a “neutral” rating to a “buy” rating and upped their target price for the company from $37.00 to $44.00 in a research note on Thursday, October 3rd. UBS Group upped their target price on shares of EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. upped their price target on shares of EQT from $37.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Finally, Mizuho upped their price target on shares of EQT from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $44.83.

EQT Price Performance

EQT opened at $44.81 on Tuesday. 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 has a 52-week low of $30.02 and a 52-week high of $48.02. The company has a 50 day moving average of $39.71 and a two-hundred day moving average of $37.21. The company has a market cap of $26.74 billion, a P/E ratio of 53.35 and a beta of 1.14.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.06. The business had revenue of $1.28 billion during 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%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.30 earnings per share. On average, analysts expect that EQT will post 1.36 earnings per share for the current year.

EQT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th were issued a dividend of $0.1575 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.41%. EQT’s dividend payout ratio (DPR) is 75.00%.

Institutional Trading of EQT

A number of institutional investors and hedge funds have recently modified their holdings of the business. Franklin Resources Inc. increased its holdings in shares of EQT by 121.1% in the 3rd quarter. Franklin Resources Inc. now owns 316,945 shares of the oil and gas producer’s stock worth $11,600,000 after acquiring an additional 173,596 shares during the period. Synovus Financial Corp acquired a new stake in shares of EQT in the 3rd quarter worth about $1,069,000. Tidal Investments LLC increased its holdings in shares of EQT by 55.8% in the 3rd quarter. Tidal Investments LLC now owns 60,816 shares of the oil and gas producer’s stock worth $2,228,000 after acquiring an additional 21,789 shares during the period. Blankinship & Foster LLC acquired a new stake in shares of EQT in the 3rd quarter worth about $4,051,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of EQT in the 3rd quarter worth about $165,000. 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.