EQT (NYSE:EQT) Reaches New 12-Month High on Analyst Upgrade

EQT Co. (NYSE:EQT) shares reached a new 52-week high on Friday after JPMorgan Chase & Co. raised their price target on the stock from $50.00 to $53.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. EQT traded as high as $48.33 and last traded at $48.06, with a volume of 725018 shares. The stock had previously closed at $47.35.

Other analysts have also recently issued research reports about the stock. Morgan Stanley upped their target price on shares of EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Stephens upped their price objective on EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Piper Sandler raised their target price on EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. BMO Capital Markets upped their price target on EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Finally, Sanford C. Bernstein began coverage on EQT in a research note on Friday, December 6th. They set a “market perform” rating and a $50.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, EQT presently has an average rating of “Moderate Buy” and a consensus target price of $47.39.

Insider Activity at EQT

In related news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the transaction, the director now owns 201,608 shares in the company, valued at approximately $9,038,086.64. This trade represents a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.63% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Concurrent Investment Advisors LLC boosted its holdings in shares of EQT by 11.5% during the second quarter. Concurrent Investment Advisors LLC now owns 6,324 shares of the oil and gas producer’s stock worth $234,000 after acquiring an additional 653 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of EQT by 5.5% during the second quarter. CIBC Asset Management Inc now owns 59,206 shares of the oil and gas producer’s stock worth $2,189,000 after buying an additional 3,070 shares in the last quarter. Rhumbline Advisers boosted its position in shares of EQT by 7.1% in the second quarter. Rhumbline Advisers now owns 840,339 shares of the oil and gas producer’s stock valued at $31,076,000 after acquiring an additional 55,384 shares during the period. Oregon Public Employees Retirement Fund grew its stake in shares of EQT by 7.7% in the second quarter. Oregon Public Employees Retirement Fund now owns 37,910 shares of the oil and gas producer’s stock valued at $1,402,000 after acquiring an additional 2,710 shares in the last quarter. Finally, Founders Financial Securities LLC increased its position in EQT by 13.0% during the second quarter. Founders Financial Securities LLC now owns 9,271 shares of the oil and gas producer’s stock worth $343,000 after acquiring an additional 1,067 shares during the period. 90.81% of the stock is currently owned by institutional investors.

EQT Stock Up 0.7 %

The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. The firm has a market cap of $28.45 billion, a price-to-earnings ratio of 56.76 and a beta of 1.14. The firm’s 50 day simple moving average is $43.22 and its two-hundred day simple moving average is $37.84.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. The company 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 firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.30 earnings per share. On average, equities analysts forecast that EQT Co. will post 1.37 EPS for the current year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th were issued a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Wednesday, November 6th. EQT’s dividend payout ratio (DPR) is currently 75.00%.

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.