EQT Co. (NYSE:EQT) Receives $45.24 Consensus Target Price from Brokerages

Shares of EQT Co. (NYSE:EQT) have been assigned an average recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the stock, Marketbeat reports. Eight research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $45.24.

A number of research firms have recently commented on EQT. Truist Financial reduced their price objective on shares of EQT from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Morgan Stanley increased their price objective on shares of EQT from $37.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Stephens increased their price objective on shares of EQT from $46.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 24th. Wells Fargo & Company downgraded shares of EQT from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $48.00 to $37.00 in a research note on Wednesday, April 17th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $37.00 target price (down from $39.00) on shares of EQT in a research note on Wednesday, March 20th.

Insider Buying and Selling at EQT

In other news, EVP William E. Jordan sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $40.72, for a total transaction of $1,425,200.00. Following the transaction, the executive vice president now directly owns 456,837 shares of the company’s stock, valued at $18,602,402.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Lesley Evancho sold 46,884 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $41.29, for a total transaction of $1,935,840.36. Following the transaction, the insider now directly owns 160,884 shares of the company’s stock, valued at $6,642,900.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William E. Jordan sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $40.72, for a total transaction of $1,425,200.00. Following the transaction, the executive vice president now directly owns 456,837 shares in the company, valued at $18,602,402.64. The disclosure for this sale can be found here. Insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in EQT. Private Wealth Management Group LLC bought a new position in EQT in the fourth quarter valued at approximately $30,000. BKM Wealth Management LLC acquired a new stake in EQT in the fourth quarter valued at approximately $40,000. Principal Securities Inc. acquired a new stake in EQT in the fourth quarter valued at approximately $51,000. EntryPoint Capital LLC acquired a new stake in EQT in the first quarter valued at approximately $54,000. Finally, Massmutual Trust Co. FSB ADV boosted its position in EQT by 52.6% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,563 shares of the oil and gas producer’s stock valued at $60,000 after buying an additional 539 shares in the last quarter. 90.81% of the stock is owned by institutional investors.

EQT Price Performance

EQT stock opened at $37.76 on Friday. The stock has a 50-day moving average price of $39.81 and a two-hundred day moving average price of $37.63. The stock has a market cap of $16.67 billion, a PE ratio of 27.36 and a beta of 1.06. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32. EQT has a 1 year low of $32.07 and a 1 year high of $45.23.

EQT (NYSE:EQT) last released its earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. EQT had a return on equity of 4.57% and a net margin of 10.96%. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the prior year, the company earned $1.70 EPS. The company’s revenue was down 28.8% on a year-over-year basis. Equities analysts forecast that EQT will post 1.03 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Wednesday, May 8th were issued a $0.1575 dividend. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $0.63 annualized dividend and a yield of 1.67%. EQT’s dividend payout ratio is currently 45.65%.

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.