EQT (NYSE:EQT) Price Target Raised to $48.00

EQT (NYSE:EQT) had its target price hoisted by Mizuho from $45.00 to $48.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock.

Several other brokerages also recently issued reports on EQT. BMO Capital Markets upped their price target on EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Piper Sandler upped their price target on EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. JPMorgan Chase & Co. upped their price target on EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. Morgan Stanley boosted their price objective on EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Finally, UBS Group boosted their price objective on EQT from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $44.67.

EQT Trading Up 0.4 %

NYSE EQT opened at $45.44 on Tuesday. The company has a market cap of $27.11 billion, a price-to-earnings ratio of 54.10 and a beta of 1.06. EQT has a 52 week low of $30.02 and a 52 week high of $48.02. The business has a 50 day moving average price of $39.35 and a 200-day moving average price of $37.20. 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 (NYSE:EQT) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the prior year, the company posted $0.30 earnings per share. EQT’s revenue was up 8.2% compared to the same quarter last year. As a group, equities analysts expect that EQT will post 1.36 earnings per share for the current fiscal year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 6th will be issued a dividend of $0.1575 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.63 dividend on an annualized basis and a yield of 1.39%. EQT’s dividend payout ratio (DPR) is 75.00%.

Hedge Funds Weigh In On EQT

A number of institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its stake in EQT by 38.7% in the 3rd quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock worth $2,716,968,000 after acquiring an additional 20,700,921 shares during the last quarter. State Street Corp increased its stake in EQT by 24.5% in the 3rd quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock worth $1,359,183,000 after acquiring an additional 7,290,822 shares during the last quarter. Bank of New York Mellon Corp increased its stake in EQT by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer’s stock worth $752,487,000 after acquiring an additional 464,781 shares during the last quarter. Modera Wealth Management LLC bought a new position in EQT in the 3rd quarter worth about $562,494,000. Finally, Geode Capital Management LLC increased its stake in EQT by 34.4% in the 3rd quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after acquiring an additional 3,582,418 shares during the last quarter. 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.