EQT (NYSE:EQT) Price Target Lowered to $62.00 at Citigroup

EQT (NYSE:EQT) had its price objective cut by Citigroup from $63.00 to $62.00 in a report released on Friday, Marketbeat Ratings reports. They currently have a buy rating on the oil and gas producer’s stock.

EQT has been the topic of a number of other research reports. Mizuho raised their target price on EQT from $60.00 to $68.00 and gave the company an “outperform” rating in a report on Friday, December 12th. BMO Capital Markets increased their price objective on EQT from $60.00 to $65.00 in a research report on Tuesday, November 11th. Jefferies Financial Group lowered their price objective on shares of EQT from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Thursday, October 2nd. UBS Group upped their target price on shares of EQT from $67.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Finally, Royal Bank Of Canada increased their price target on shares of EQT from $60.00 to $62.00 and gave the company a “sector perform” rating in a report on Tuesday, October 7th. Nineteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, EQT currently has an average rating of “Moderate Buy” and a consensus target price of $65.13.

EQT Stock Performance

Shares of EQT opened at $53.85 on Friday. The company has a market capitalization of $33.61 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 0.43 and a beta of 0.62. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.58 and a quick ratio of 0.58. EQT has a one year low of $42.42 and a one year high of $62.23. The company’s fifty day moving average price is $56.60 and its 200 day moving average price is $54.95.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, October 21st. The oil and gas producer reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.78 billion. EQT had a net margin of 22.59% and a return on equity of 6.88%. The business’s quarterly revenue was up 52.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.12 earnings per share. As a group, analysts expect that EQT will post 3.27 earnings per share for the current year.

EQT Increases Dividend

The firm also recently declared 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 is an increase from EQT’s previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Wednesday, November 5th. EQT’s dividend payout ratio is presently 22.60%.

Insider Transactions at EQT

In other news, EVP J.E.B. Bolen sold 1,422 shares of the stock in a transaction 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 transaction, the executive vice president owned 69,486 shares in the company, valued at approximately $3,668,165.94. This represents a 2.01% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.65% of the stock is owned by company insiders.

Institutional Trading of EQT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Twin Peaks Wealth Advisors LLC acquired a new position in EQT in the second quarter worth about $41,000. Anchor Investment Management LLC raised its holdings in shares of EQT by 133.3% in the 2nd quarter. Anchor Investment Management LLC now owns 875 shares of the oil and gas producer’s stock worth $51,000 after buying an additional 500 shares in the last quarter. Private Trust Co. NA lifted its position in shares of EQT by 38.1% during the 2nd quarter. Private Trust Co. NA now owns 1,026 shares of the oil and gas producer’s stock worth $60,000 after buying an additional 283 shares during the period. SVB Wealth LLC bought a new position in shares of EQT during the 1st quarter worth approximately $82,000. Finally, Quent Capital LLC acquired a new stake in EQT in the 3rd quarter valued at $94,000. Institutional investors own 90.81% of the company’s stock.

About EQT

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.