Piper Sandler Increases EQT (NYSE:EQT) Price Target to $47.00

EQT (NYSE:EQT) had its price target hoisted by Piper Sandler from $46.00 to $47.00 in a research note issued to investors on Thursday, Benzinga reports. Piper Sandler currently has an overweight rating on the oil and gas producer’s stock.

A number of other equities analysts have also recently issued reports on EQT. Mizuho raised their target price on shares of EQT from $43.00 to $45.00 and gave the stock a neutral rating in a report on Monday, May 13th. Stephens boosted their price objective on EQT from $46.00 to $47.00 and gave the company an equal weight rating in a research report on Wednesday, April 24th. TD Cowen began coverage on EQT in a research report on Friday, April 19th. They issued a hold rating and a $43.00 target price on the stock. Wells Fargo & Company cut 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, Scotiabank upped their price target on shares of EQT from $54.00 to $55.00 and gave the stock a sector outperform rating in a research report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average price target of $45.67.

EQT Price Performance

Shares of NYSE EQT opened at $35.88 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $15.84 billion, a price-to-earnings ratio of 26.00 and a beta of 1.12. EQT has a twelve month low of $32.07 and a twelve month high of $45.23. The business has a 50 day simple moving average of $38.89 and a 200-day simple moving average of $37.40.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, April 23rd. The oil and gas producer reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. EQT had a net margin of 10.96% and a return on equity of 4.57%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the previous year, the company posted $1.70 earnings per share. The firm’s revenue was down 28.8% on a year-over-year basis. As a group, equities research analysts expect that EQT will post 1.32 earnings per share for the current year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be paid a dividend of $0.1575 per share. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.76%. EQT’s dividend payout ratio is presently 45.65%.

Insiders Place Their Bets

In other news, insider Lesley Evancho sold 46,884 shares of EQT stock in a transaction on Tuesday, May 28th. The stock was 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 in the company, valued at approximately $6,642,900.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP William E. Jordan sold 35,000 shares of the 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 completion of the sale, the executive vice president now directly owns 456,837 shares of the company’s stock, valued at $18,602,402.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Lesley Evancho sold 46,884 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $41.29, for a total transaction of $1,935,840.36. Following the sale, the insider now owns 160,884 shares of the company’s stock, valued at $6,642,900.36. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by insiders.

Institutional Investors Weigh In On EQT

Institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James & Associates raised its position in shares of EQT by 16.4% during the second quarter. Raymond James & Associates now owns 739,589 shares of the oil and gas producer’s stock worth $27,350,000 after purchasing an additional 104,059 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in EQT by 4.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 938,133 shares of the oil and gas producer’s stock worth $34,692,000 after purchasing an additional 41,531 shares in the last quarter. Davis Investment Partners LLC raised its holdings in EQT by 22.3% during the 2nd quarter. Davis Investment Partners LLC now owns 30,591 shares of the oil and gas producer’s stock worth $1,138,000 after buying an additional 5,576 shares during the period. Blue Trust Inc. lifted its stake in EQT by 149.5% during the second quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock valued at $37,000 after buying an additional 598 shares in the last quarter. Finally, Swedbank AB boosted its holdings in shares of EQT by 72.4% in the second quarter. Swedbank AB now owns 189,407 shares of the oil and gas producer’s stock worth $7,004,000 after buying an additional 79,538 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

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.