EQT (NYSE:EQT) Upgraded at TD Cowen

TD Cowen upgraded shares of EQT (NYSE:EQT) to a strong-buy rating in a research report report published on Monday morning,Zacks.com reports.

Several other analysts also recently issued reports on the stock. The Goldman Sachs Group reduced their price target on shares of EQT from $70.00 to $66.00 and set a “buy” rating on the stock in a report on Thursday, January 22nd. Mizuho raised their price target on EQT from $60.00 to $68.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. BMO Capital Markets lowered their price objective on shares of EQT from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, January 12th. Weiss Ratings reissued a “buy (b-)” rating on shares of EQT in a research report on Monday, December 29th. Finally, Barclays lowered their price target on EQT from $67.00 to $64.00 and set an “overweight” rating for the company in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, EQT has an average rating of “Moderate Buy” and a consensus price target of $63.77.

EQT Stock Up 2.8%

EQT stock opened at $56.95 on Monday. The company’s 50-day moving average price is $54.59 and its 200 day moving average price is $54.27. EQT has a 52 week low of $43.57 and a 52 week high of $62.23. 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 company has a market cap of $35.54 billion, a P/E ratio of 19.50, a P/E/G ratio of 0.46 and a beta of 0.74.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th will be given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Tuesday, February 17th. EQT’s dividend payout ratio (DPR) is presently 22.60%.

Institutional Trading of EQT

Hedge funds have recently made changes to their positions in the stock. Cullen Frost Bankers Inc. boosted its position in shares of EQT by 8,000.9% during the third quarter. Cullen Frost Bankers Inc. now owns 153,431 shares of the oil and gas producer’s stock worth $8,351,000 after buying an additional 151,537 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its holdings in EQT by 116.4% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 534,485 shares of the oil and gas producer’s stock worth $29,092,000 after acquiring an additional 287,538 shares during the period. First American Bank acquired a new position in shares of EQT in the 3rd quarter worth approximately $1,915,000. Whittier Trust Co. lifted its position in shares of EQT by 2.6% during the 2nd quarter. Whittier Trust Co. now owns 302,900 shares of the oil and gas producer’s stock valued at $17,662,000 after acquiring an additional 7,647 shares during the last quarter. Finally, Adams Natural Resources Fund Inc. boosted its position in shares of EQT by 97.1% in the 3rd quarter. Adams Natural Resources Fund Inc. now owns 220,500 shares of the oil and gas producer’s stock valued at $12,002,000 after purchasing an additional 108,600 shares during the period. 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.