EQT (NYSE:EQT) Price Target Cut to $42.00 by Analysts at Jefferies Financial Group

EQT (NYSE:EQT) had its price target decreased by Jefferies Financial Group from $50.00 to $42.00 in a research report released on Monday, Benzinga reports. Jefferies Financial Group currently has a buy rating on the oil and gas producer’s stock.

A number of other analysts have also recently weighed in on the stock. Royal Bank of Canada reissued an outperform rating and set a $46.00 price objective on shares of EQT in a report on Tuesday, March 5th. Morgan Stanley lifted their target price on shares of EQT from $38.00 to $39.00 and gave the company an overweight rating in a report on Wednesday, November 29th. Piper Sandler lifted their target price on shares of EQT from $45.00 to $47.00 and gave the company an overweight rating in a report on Thursday, March 7th. JPMorgan Chase & Co. reaffirmed a neutral rating and issued a $37.00 target price (down from $39.00) on shares of EQT in a report on Wednesday, March 20th. Finally, StockNews.com raised shares of EQT to a sell rating in a report on Tuesday, March 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $43.54.

EQT Stock Up 3.2 %

EQT stock opened at $36.06 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.37. EQT has a twelve month low of $29.94 and a twelve month high of $45.23. The company’s 50 day moving average is $35.33 and its two-hundred day moving average is $38.51. The stock has a market cap of $15.88 billion, a P/E ratio of 8.48 and a beta of 1.13.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. EQT had a net margin of 25.12% and a return on equity of 7.12%. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter last year, the company earned $0.42 earnings per share. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. Research analysts expect that EQT will post 2.4 earnings per share for the current fiscal year.

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Tuesday, February 20th were paid a $0.1575 dividend. The ex-dividend date was Friday, February 16th. This represents a $0.63 annualized dividend and a yield of 1.75%. EQT’s dividend payout ratio is currently 14.82%.

Institutional Investors Weigh In On EQT

Institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. increased its stake in shares of EQT by 1.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 137,313 shares of the oil and gas producer’s stock valued at $5,309,000 after acquiring an additional 1,428 shares during the last quarter. SCP Investment LP acquired a new position in shares of EQT during the 4th quarter valued at about $681,000. Vanguard Group Inc. increased its stake in shares of EQT by 4.5% during the 4th quarter. Vanguard Group Inc. now owns 46,922,862 shares of the oil and gas producer’s stock valued at $1,814,038,000 after acquiring an additional 2,023,222 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of EQT by 3.2% during the 4th quarter. Wellington Management Group LLP now owns 20,320,219 shares of the oil and gas producer’s stock valued at $785,580,000 after acquiring an additional 632,625 shares during the last quarter. Finally, American International Group Inc. increased its position in EQT by 9.3% during the 4th quarter. American International Group Inc. now owns 107,443 shares of the oil and gas producer’s stock worth $4,154,000 after purchasing an additional 9,157 shares in the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

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.