BMO Capital Markets Increases EQT (NYSE:EQT) Price Target to $40.00

EQT (NYSE:EQT) had its target price increased by BMO Capital Markets from $39.00 to $40.00 in a research note published on Friday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the oil and gas producer’s stock.

Other research analysts have also issued research reports about the company. Wolfe Research assumed coverage on EQT in a research report on Thursday, July 18th. They set an outperform rating and a $51.00 price objective for the company. JPMorgan Chase & Co. upped their price target on shares of EQT from $37.00 to $39.00 and gave the stock an overweight rating in a research report on Thursday, September 26th. Truist Financial dropped their price objective on shares of EQT from $36.00 to $32.00 and set a hold rating on the stock in a report on Monday, July 22nd. Stephens reduced their target price on shares of EQT from $47.00 to $46.00 and set an equal weight rating for the company in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company upgraded shares of EQT from an equal weight rating to an overweight rating and raised their price target for the company from $40.00 to $42.00 in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $42.18.

EQT Stock Up 1.0 %

Shares of NYSE:EQT opened at $37.30 on Friday. The company’s fifty day moving average is $33.46 and its two-hundred day moving average is $36.55. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.73 and a current ratio of 0.73. EQT has a 1-year low of $30.02 and a 1-year high of $45.23. The stock has a market capitalization of $16.47 billion, a price-to-earnings ratio of 27.03 and a beta of 1.06.

EQT (NYSE:EQT) last released its quarterly earnings data 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 net margin of 12.45% and a return on equity of 4.52%. The firm had revenue of $952.51 million for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the business earned ($0.17) earnings per share. EQT’s quarterly revenue was down 6.5% on a year-over-year basis. Equities analysts anticipate that EQT will post 1.37 EPS for the current year.

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were issued a dividend of $0.1575 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.63 annualized dividend and a yield of 1.69%. EQT’s dividend payout ratio is currently 45.65%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its holdings in EQT by 22.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock worth $2,405,007,000 after purchasing an additional 11,993,729 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of EQT by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock worth $1,885,590,000 after purchasing an additional 3,942,802 shares during the last quarter. Third Point LLC bought a new stake in shares of EQT in the 4th quarter valued at about $75,387,000. Merewether Investment Management LP acquired a new stake in EQT in the 2nd quarter valued at about $69,452,000. Finally, Boston Partners grew its holdings in EQT by 33.7% during the first quarter. Boston Partners now owns 3,834,505 shares of the oil and gas producer’s stock worth $142,178,000 after purchasing an additional 966,475 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

EQT Company Profile

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.