EQT Corporation (NYSE:EQT) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of EQT Corporation (NYSE:EQT) have received a consensus recommendation of “Moderate Buy” from the twenty-five research firms that are presently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and nineteen have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $65.1304.

Several analysts have issued reports on EQT shares. Siebert Williams Shank cut their target price on shares of EQT from $62.00 to $59.00 and set a “hold” rating on the stock in a research note on Monday, October 13th. JPMorgan Chase & Co. raised their target price on EQT from $62.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, December 8th. Piper Sandler lifted their price target on EQT from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, November 18th. UBS Group boosted their price objective on shares of EQT from $67.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Finally, Citigroup cut their target price on shares of EQT from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, December 19th.

Insiders Place Their Bets

In other news, EVP J.E.B. Bolen sold 1,422 shares of the firm’s stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $52.79, for a total transaction 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 $3,668,165.94. This trade represents a 2.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.65% of the stock is currently owned by insiders.

Institutional Trading of EQT

A number of institutional investors have recently added to or reduced their stakes in the business. Twin Peaks Wealth Advisors LLC bought a new stake in EQT in the second quarter worth approximately $41,000. Anchor Investment Management LLC lifted its stake 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 valued at $51,000 after purchasing an additional 500 shares during the last quarter. Private Trust Co. NA boosted its holdings in EQT by 38.1% in the second quarter. Private Trust Co. NA now owns 1,026 shares of the oil and gas producer’s stock worth $60,000 after purchasing an additional 283 shares in the last quarter. SVB Wealth LLC bought a new stake in EQT in the first quarter worth $82,000. Finally, Quent Capital LLC acquired a new position in EQT during the third quarter worth $94,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

EQT Trading Up 1.9%

Shares of EQT opened at $54.53 on Wednesday. The business’s 50-day moving average price is $56.62 and its 200 day moving average price is $54.91. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $34.03 billion, a P/E ratio of 18.67, a P/E/G ratio of 0.43 and a beta of 0.62. EQT has a 1-year low of $43.57 and a 1-year high of $62.23.

EQT (NYSE:EQT) last released its earnings results 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. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.78 billion. EQT had a net margin of 22.59% and a return on equity of 6.88%. The firm’s quarterly revenue was up 52.6% compared to the same quarter last year. During the same period last year, the firm posted $0.12 earnings per share. Analysts expect that EQT will post 3.27 earnings per share for the current year.

EQT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Wednesday, November 5th were given a dividend of $0.165 per share. 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. This represents a $0.66 dividend on an annualized basis and a yield of 1.2%. EQT’s payout ratio is 22.60%.

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.