EQT (NYSE:EQT) Price Target Raised to $58.00 at UBS Group

EQT (NYSE:EQT) had its price objective raised by UBS Group from $54.00 to $58.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has a neutral rating on the oil and gas producer’s stock.

EQT has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their target price on shares of EQT from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. The Goldman Sachs Group restated a “reduce” rating on shares of EQT in a research note on Wednesday, February 12th. Piper Sandler raised their target price on shares of EQT from $34.00 to $35.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reissued a “sector perform” rating and set a $49.00 price target on shares of EQT in a research report on Monday, January 6th. Finally, Stephens raised their price objective on EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $52.39.

EQT Trading Down 2.6 %

Shares of NYSE:EQT opened at $48.78 on Tuesday. The stock has a market capitalization of $29.14 billion, a PE ratio of 121.95, a price-to-earnings-growth ratio of 0.64 and a beta of 1.08. The company’s 50-day moving average price is $49.86 and its two-hundred day moving average price is $42.13. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. EQT has a one year low of $30.02 and a one year high of $56.66.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 EPS for the quarter, beating the consensus estimate of $0.50 by $0.19. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.81 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. On average, equities analysts forecast that EQT will post 3.27 EPS for the current fiscal year.

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th will be issued a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Tuesday, February 18th. EQT’s dividend payout ratio is currently 157.50%.

Insiders Place Their Bets

In related news, Director Thomas F. Karam sold 30,154 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total value of $1,351,803.82. Following the completion of the sale, the director now directly owns 201,608 shares in the company, valued at approximately $9,038,086.64. The trade was a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On EQT

Hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its position in shares of EQT by 38.7% in the third 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 purchasing an additional 20,700,921 shares during the period. Vanguard Group Inc. grew its stake in EQT by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 72,530,286 shares of the oil and gas producer’s stock worth $3,344,371,000 after buying an additional 358,649 shares in the last quarter. State Street Corp increased its holdings 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 valued at $1,359,183,000 after buying an additional 7,290,822 shares during the period. Geode Capital Management LLC raised its position in shares of EQT by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 14,427,307 shares of the oil and gas producer’s stock valued at $663,552,000 after buying an additional 429,733 shares in the last quarter. Finally, Capital International Investors lifted its holdings in shares of EQT by 21.3% during the 4th quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer’s stock worth $638,867,000 after acquiring an additional 2,433,632 shares during the period. Institutional investors 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.