EQT (NYSE:EQT) Price Target Raised to $69.00

EQT (NYSE:EQT) had its price target raised by Stephens from $60.00 to $69.00 in a research report report published on Friday,MarketScreener reports. The brokerage currently has an overweight rating on the oil and gas producer’s stock.

Several other brokerages also recently issued reports on EQT. UBS Group raised their price target on EQT from $65.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Wolfe Research increased their target price on EQT from $71.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, October 6th. Piper Sandler boosted their price target on shares of EQT from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, November 18th. Siebert Williams Shank lowered their price target on shares of EQT from $62.00 to $59.00 and set a “hold” rating for the company in a research report on Monday, October 13th. Finally, Jefferies Financial Group cut their price objective on shares of EQT from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Thursday, October 2nd. Eighteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, EQT presently has an average rating of “Moderate Buy” and an average price target of $64.35.

EQT Trading Up 1.0%

NYSE EQT opened at $60.70 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.58 and a current ratio of 0.58. EQT has a one year low of $42.27 and a one year high of $62.23. The company has a 50-day simple moving average of $56.59 and a 200-day simple moving average of $54.95. The firm has a market capitalization of $37.88 billion, a PE ratio of 20.79, a price-to-earnings-growth ratio of 0.50 and a beta of 0.62.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, October 21st. The oil and gas producer reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.02. EQT had a net margin of 22.59% and a return on equity of 6.88%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the prior year, the business earned $0.12 earnings per share. EQT’s quarterly revenue was up 52.6% on a year-over-year basis. On average, equities analysts forecast that EQT will post 3.27 earnings per share for the current year.

EQT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Wednesday, November 5th were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, November 5th. This is a positive change from EQT’s previous quarterly dividend of $0.16. EQT’s dividend payout ratio is 22.60%.

Insider Activity at EQT

In other news, EVP J.E.B. Bolen sold 1,422 shares of the company’s stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $52.79, for a total value of $75,067.38. Following the completion of the sale, the executive vice president directly owned 69,486 shares of the company’s stock, valued at approximately $3,668,165.94. This represents a 2.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On EQT

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. bought a new position in EQT during the 3rd quarter valued at $114,000. Adalta Capital Management LLC lifted its holdings in shares of EQT by 71.2% in the third quarter. Adalta Capital Management LLC now owns 11,300 shares of the oil and gas producer’s stock valued at $615,000 after buying an additional 4,700 shares during the period. Horizon Investments LLC lifted its holdings in shares of EQT by 43.6% in the third quarter. Horizon Investments LLC now owns 85,502 shares of the oil and gas producer’s stock valued at $4,640,000 after buying an additional 25,971 shares during the period. BOKF NA boosted its stake in EQT by 8.6% during the third quarter. BOKF NA now owns 109,941 shares of the oil and gas producer’s stock valued at $5,984,000 after buying an additional 8,663 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. acquired a new position in EQT during the third quarter worth about $522,000. 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.