EQT (NYSE:EQT) Hits New 52-Week High – Here’s Why

Shares of EQT Co. (NYSE:EQT) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $44.61 and last traded at $44.58, with a volume of 1882033 shares changing hands. The stock had previously closed at $42.71.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Morgan Stanley reiterated an “overweight” rating and set a $45.00 price objective on shares of EQT in a research report on Friday, September 13th. Mizuho upped their price objective on shares of EQT from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Citigroup raised shares of EQT from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $37.00 to $44.00 in a research note on Thursday, October 3rd. Truist Financial dropped their price target on shares of EQT from $36.00 to $32.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. Finally, StockNews.com raised shares of EQT to a “sell” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, EQT presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.83.

EQT Price Performance

The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. The firm has a market cap of $26.42 billion, a price-to-earnings ratio of 50.85 and a beta of 1.06. The company’s 50-day moving average price is $36.91 and its 200-day moving average price is $36.77.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, beating the consensus estimate of $0.06 by $0.06. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.30 EPS. On average, equities research analysts forecast that EQT Co. will post 1.28 EPS for the current year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders 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 annualized dividend and a yield of 1.42%. EQT’s dividend payout ratio (DPR) is 75.00%.

Hedge Funds Weigh In On EQT

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. TD Private Client Wealth LLC grew its holdings in EQT by 69.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 3,836 shares of the oil and gas producer’s stock worth $141,000 after acquiring an additional 1,566 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in shares of EQT by 136.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 79,525 shares of the oil and gas producer’s stock worth $2,914,000 after purchasing an additional 45,898 shares during the last quarter. Toronto Dominion Bank grew its stake in shares of EQT by 154.0% during the third quarter. Toronto Dominion Bank now owns 316,518 shares of the oil and gas producer’s stock worth $11,597,000 after purchasing an additional 191,892 shares in the last quarter. Financial Avengers Inc. boosted its position in shares of EQT by 100.8% during the 3rd quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 504 shares in the last quarter. Finally, Coldstream Capital Management Inc. boosted its holdings in EQT by 22.6% in the third quarter. Coldstream Capital Management Inc. now owns 15,243 shares of the oil and gas producer’s stock valued at $567,000 after purchasing an additional 2,810 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

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.