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

EQT Corporation (NYSE:EQT) has received a consensus rating of “Moderate Buy” from the twenty-eight analysts that are presently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $68.8333.

Several equities research analysts recently issued reports on EQT shares. TD Cowen lifted their price objective on shares of EQT from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Evercore lifted their price objective on shares of EQT from $60.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Wolfe Research lifted their price objective on shares of EQT from $64.00 to $69.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Piper Sandler lifted their price objective on shares of EQT from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, March 5th. Finally, BMO Capital Markets reduced their price objective on shares of EQT from $76.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th.

EQT Stock Up 1.1%

EQT stock opened at $51.33 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.19. EQT has a 1 year low of $48.47 and a 1 year high of $68.24. The company has a fifty day simple moving average of $56.64 and a 200 day simple moving average of $57.45. The firm has a market cap of $32.10 billion, a PE ratio of 9.74 and a beta of 0.55.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, April 21st. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.32. EQT had a net margin of 31.94% and a return on equity of 9.74%. The business had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the previous year, the business earned $1.18 EPS. Sell-side analysts anticipate that EQT will post 4.7 EPS for the current fiscal year.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Wednesday, May 6th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $0.66 dividend on an annualized basis and a yield of 1.3%. EQT’s payout ratio is currently 12.52%.

Insiders Place Their Bets

In other EQT news, Director Vicky A. Bailey sold 4,116 shares of the business’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $59.80, for a total transaction of $246,136.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Toby Z. Rice sold 96,983 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $54.28, for a total transaction of $5,264,237.24. Following the transaction, the chief executive officer directly owned 2,334,924 shares of the company’s stock, valued at approximately $126,739,674.72. This represents a 3.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 102,830 shares of company stock valued at $5,602,913. Company insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of EQT. Greykasell Wealth Strategies Inc. acquired a new position in EQT during the 4th quarter worth $26,000. Fortitude Family Office LLC lifted its position in EQT by 95.6% during the 4th quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 280 shares during the last quarter. Aventura Private Wealth LLC acquired a new position in EQT during the 4th quarter worth $31,000. Elyxium Wealth LLC acquired a new position in EQT during the 4th quarter worth $49,000. Finally, Root Financial Partners LLC lifted its position in EQT by 35.4% during the 1st quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer’s stock worth $49,000 after acquiring an additional 202 shares during the last quarter. Institutional investors and hedge funds 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.