EQT (NYSE:EQT) Price Target Raised to $53.00

EQT (NYSE:EQT) had its price objective lifted by JPMorgan Chase & Co. from $50.00 to $53.00 in a research report sent to investors on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the oil and gas producer’s stock.

A number of other analysts have also recently commented on the company. Sanford C. Bernstein assumed coverage on EQT in a research report on Friday, December 6th. They set a “market perform” rating and a $50.00 target price on the stock. Stephens lifted their price target on EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. BMO Capital Markets increased their price objective on EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Truist Financial raised their target price on shares of EQT from $32.00 to $41.00 and gave the stock a “hold” rating in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company upped their price target on shares of EQT from $42.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $47.78.

EQT Stock Performance

Shares of EQT stock opened at $47.02 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. EQT has a 52 week low of $30.02 and a 52 week high of $48.33. The firm’s 50 day moving average is $43.42 and its two-hundred day moving average is $37.89. The firm has a market capitalization of $28.06 billion, a P/E ratio of 55.98 and a beta of 1.12.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period last year, the firm posted $0.30 EPS. The company’s revenue was up 8.2% on a year-over-year basis. Research analysts forecast that EQT will post 1.37 EPS for the current fiscal year.

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th were issued a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend was Wednesday, November 6th. EQT’s dividend payout ratio is presently 75.00%.

Insider Transactions at EQT

In other news, Director Thomas F. Karam sold 30,154 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total value of $1,351,803.82. Following the completion of the transaction, the director now owns 201,608 shares in the company, valued at $9,038,086.64. This trade represents a 13.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. HM Payson & Co. acquired a new stake in shares of EQT during the 3rd quarter valued at approximately $25,000. Truvestments Capital LLC purchased a new position in EQT in the 3rd quarter valued at approximately $30,000. Hexagon Capital Partners LLC raised its holdings in EQT by 18,080.0% during the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 904 shares during the last quarter. Quarry LP boosted its position in EQT by 184.7% during the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 578 shares in the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new stake in EQT in the third quarter valued at $36,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

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.