EQT (NYSE:EQT) Upgraded by UBS Group to Buy Rating

UBS Group upgraded shares of EQT (NYSE:EQT) from a neutral rating to a buy rating in a research note published on Monday morning, MarketBeat Ratings reports. UBS Group currently has $64.00 price objective on the oil and gas producer’s stock, up from their previous price objective of $54.00.

A number of other analysts have also recently commented on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $49.00 price objective on shares of EQT in a research report on Monday, January 6th. Mizuho upped their price objective on shares of EQT from $57.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 1st. Wells Fargo & Company increased their price objective on shares of EQT from $53.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, March 19th. Truist Financial boosted their target price on shares of EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Finally, TD Cowen raised shares of EQT from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research note on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.94.

EQT Stock Performance

Shares of NYSE EQT opened at $53.50 on Monday. The company has a market capitalization of $32.03 billion, a PE ratio of 133.75, a price-to-earnings-growth ratio of 0.64 and a beta of 1.35. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70. The company’s fifty day moving average price is $50.36 and its 200 day moving average price is $47.77. EQT has a 1 year low of $30.02 and a 1 year high of $56.66.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.20. EQT had a net margin of 4.37% and a return on equity of 4.35%. The business had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.16 billion. On average, research analysts predict that EQT will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th will be paid a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Wednesday, May 7th. EQT’s dividend payout ratio (DPR) is presently 110.53%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Retirement Systems of Alabama raised its stake in EQT by 36.7% during the third quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer’s stock worth $4,878,000 after purchasing an additional 35,733 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of EQT by 44.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,555 shares of the oil and gas producer’s stock worth $2,379,000 after buying an additional 16,416 shares during the last quarter. D.A. Davidson & CO. raised its position in shares of EQT by 13.4% during the 4th quarter. D.A. Davidson & CO. now owns 6,467 shares of the oil and gas producer’s stock valued at $298,000 after buying an additional 762 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in EQT by 15.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 41,508 shares of the oil and gas producer’s stock valued at $1,914,000 after acquiring an additional 5,489 shares during the last quarter. Finally, Howard Financial Services LTD. purchased a new position in EQT in the fourth quarter worth approximately $223,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

About EQT

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.