EQT (NYSE:EQT) Shares Up 2.9%

EQT Co. (NYSE:EQT)’s share price shot up 2.9% during mid-day trading on Monday . The company traded as high as $32.05 and last traded at $32.00. 1,425,790 shares were traded during trading, a decline of 80% from the average session volume of 7,161,076 shares. The stock had previously closed at $31.10.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. TD Cowen assumed coverage on shares of EQT in a research report on Friday, April 19th. They issued a “hold” rating and a $43.00 target price on the stock. BMO Capital Markets upped their target price on shares of EQT from $40.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, May 13th. Wells Fargo & Company raised shares of EQT from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $40.00 to $42.00 in a research report on Wednesday. Wolfe Research initiated coverage on shares of EQT in a research report on Thursday, July 18th. They set an “outperform” rating and a $51.00 price objective on the stock. Finally, Jefferies Financial Group increased their price objective on shares of EQT from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, EQT presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.78.

EQT Stock Performance

The company has a market capitalization of $13.90 billion, a P/E ratio of 22.48 and a beta of 1.12. The business has a 50-day moving average of $36.22 and a 200-day moving average of $36.95. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.73 and a quick ratio of 0.73.

EQT (NYSE:EQT) last released its earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.12. EQT had a return on equity of 4.52% and a net margin of 12.45%. The business had revenue of $952.51 million during the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the company earned ($0.17) earnings per share. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year. On average, sell-side analysts anticipate that EQT Co. will post 1.4 EPS for the current year.

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be issued a $0.1575 dividend. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.63 annualized dividend and a dividend yield of 2.00%. EQT’s payout ratio is currently 45.65%.

Insider Activity at EQT

In related news, insider Lesley Evancho sold 46,884 shares of EQT stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $41.29, for a total value of $1,935,840.36. Following the completion of the sale, the insider now directly owns 160,884 shares in the company, valued at $6,642,900.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other EQT news, EVP William E. Jordan sold 35,000 shares of EQT stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $40.72, for a total value of $1,425,200.00. Following the transaction, the executive vice president now owns 456,837 shares in the company, valued at $18,602,402.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lesley Evancho sold 46,884 shares of EQT stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $41.29, for a total value of $1,935,840.36. Following the completion of the transaction, the insider now owns 160,884 shares in the company, valued at approximately $6,642,900.36. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EQT

Large investors have recently modified their holdings of the business. Innealta Capital LLC purchased a new stake in shares of EQT during the second quarter worth about $28,000. Private Wealth Management Group LLC acquired a new position in EQT in the fourth quarter valued at approximately $30,000. Wolff Wiese Magana LLC lifted its holdings in EQT by 936.1% in the second quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 908 shares during the period. Blue Trust Inc. lifted its holdings in EQT by 149.5% in the second quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 598 shares during the period. Finally, Principal Securities Inc. acquired a new position in shares of EQT during the 4th quarter worth approximately $51,000. Hedge funds and other institutional investors 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.