EQT (NYSE:EQT) Share Price Passes Above 50-Day Moving Average – Should You Sell?

EQT Corporation (NYSE:EQT) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $54.91 and traded as high as $55.68. EQT shares last traded at $55.3460, with a volume of 7,892,720 shares traded.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on EQT shares. Wells Fargo & Company reduced their price target on EQT from $68.00 to $66.00 and set an “overweight” rating on the stock in a research report on Thursday, October 23rd. Zacks Research lowered EQT from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 22nd. Sanford C. Bernstein raised their price target on EQT from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Monday, January 5th. Wolfe Research boosted their price target on EQT from $61.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Finally, Mizuho increased their price objective on shares of EQT from $60.00 to $68.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Nineteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $63.77.

EQT Price Performance

The company has a market capitalization of $34.54 billion, a price-to-earnings ratio of 18.95, a P/E/G ratio of 0.46 and a beta of 0.74. The firm has a 50-day simple moving average of $54.91 and a two-hundred day simple moving average of $54.18. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.29.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, February 17th. EQT’s payout ratio is 22.60%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EQT. Aventura Private Wealth LLC acquired a new position in shares of EQT in the fourth quarter worth about $31,000. Fortitude Family Office LLC raised its holdings in shares of 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 acquiring an additional 280 shares during the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in EQT in the 2nd quarter valued at $41,000. Anchor Investment Management LLC lifted its stake in shares of EQT by 133.3% in the second quarter. Anchor Investment Management LLC now owns 875 shares of the oil and gas producer’s stock worth $51,000 after buying an additional 500 shares in the last quarter. Finally, Elyxium Wealth LLC purchased a new position in EQT in the 4th quarter worth approximately $49,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

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.