EQT Corporation (NYSE:EQT) Receives $68.21 Average PT from Brokerages

Shares of EQT Corporation (NYSE:EQT) have been assigned an average recommendation of “Moderate Buy” from the twenty-nine brokerages that are covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $68.1250.

A number of analysts have recently issued reports on EQT shares. Sanford C. Bernstein reduced their price objective on shares of EQT from $73.00 to $69.00 and set an “outperform” rating for the company in a research note on Monday, April 13th. Wells Fargo & Company lifted their target price on shares of EQT from $70.00 to $79.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. The Goldman Sachs Group dropped their target price on shares of EQT from $65.00 to $63.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Morgan Stanley cut their price target on EQT from $74.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, June 26th. Finally, UBS Group decreased their price target on EQT from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Wednesday, July 8th.

EQT Trading Up 0.3%

Shares of NYSE:EQT opened at $49.38 on Friday. The stock has a 50 day moving average of $53.42 and a 200 day moving average of $56.60. The company has a market cap of $30.89 billion, a PE ratio of 9.37 and a beta of 0.55. EQT has a 12-month low of $47.94 and a 12-month high of $68.24. 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 (NYSE:EQT) last released its earnings results on Tuesday, April 21st. The oil and gas producer reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.32. EQT had a net margin of 31.94% and a return on equity of 9.74%. The company had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter last year, the business earned $1.18 EPS. As a group, equities research analysts expect that EQT will post 4.26 EPS for the current year.

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 5th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.3%. EQT’s dividend payout ratio is 12.52%.

Insider Activity

In related news, CEO Toby Z. Rice sold 1,731 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $53.46, for a total value of $92,539.26. Following the transaction, the chief executive officer directly owned 2,333,193 shares of the company’s stock, valued at approximately $124,732,497.78. The trade was a 0.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vicky A. Bailey sold 4,116 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $59.80, for a total value of $246,136.80. The SEC filing for this sale provides additional information. Insiders have sold 102,830 shares of company stock valued at $5,602,913 in the last quarter. 0.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EQT

Institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC boosted its holdings in shares of EQT by 1.0% during the 4th quarter. Parallel Advisors LLC now owns 19,075 shares of the oil and gas producer’s stock valued at $1,022,000 after purchasing an additional 198 shares during the last quarter. Root Financial Partners LLC increased its holdings in shares of EQT by 35.4% in the first quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer’s stock worth $49,000 after purchasing an additional 202 shares during the last quarter. Rothschild Investment LLC lifted its position in shares of EQT by 0.5% in the fourth quarter. Rothschild Investment LLC now owns 46,582 shares of the oil and gas producer’s stock worth $2,497,000 after buying an additional 215 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of EQT by 4.0% in the first quarter. EverSource Wealth Advisors LLC now owns 6,154 shares of the oil and gas producer’s stock worth $392,000 after buying an additional 236 shares in the last quarter. Finally, Fortitude Family Office LLC boosted its stake in EQT by 95.6% during the fourth quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 280 shares during the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

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.