EQT Corporation (NYSE:EQT) Given Average Rating of “Moderate Buy” by Brokerages

EQT Corporation (NYSE:EQT) has been given an average recommendation of “Moderate Buy” by the twenty-nine ratings firms that are covering the company, MarketBeat reports. Six analysts have rated the stock with a hold recommendation, twenty-one have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $68.1250.

A number of brokerages have commented on EQT. The Goldman Sachs Group reduced their price objective on EQT from $65.00 to $63.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Sanford C. Bernstein lowered their target price on shares of EQT from $73.00 to $69.00 and set an “outperform” rating for the company in a research note on Monday, April 13th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $69.00 price target on shares of EQT in a report on Wednesday, April 15th. Capital One Financial boosted their target price on shares of EQT from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Finally, Truist Financial decreased their price target on EQT from $74.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th.

EQT Stock Performance

NYSE:EQT opened at $49.54 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.19. EQT has a twelve month low of $47.94 and a twelve month high of $68.24. The company has a market capitalization of $30.99 billion, a P/E ratio of 9.40 and a beta of 0.55. The firm has a 50-day moving average price of $53.29 and a two-hundred day moving average price of $56.55.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, April 21st. The oil and gas producer reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.32. The business had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.14 billion. EQT had a net margin of 31.94% and a return on equity of 9.74%. During the same quarter in the previous year, the business posted $1.18 earnings per share. As a group, research analysts expect that EQT will post 4.25 earnings per share for the current fiscal year.

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 5th will be paid a dividend of $0.165 per share. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $0.66 dividend on an annualized basis and a yield of 1.3%. EQT’s dividend payout ratio is currently 12.52%.

Insider Activity

In other news, Director Vicky A. Bailey sold 4,116 shares of the business’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $59.80, for a total transaction of $246,136.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Toby Z. Rice sold 1,731 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $53.46, for a total transaction of $92,539.26. Following the completion of the sale, the chief executive officer owned 2,333,193 shares of the company’s stock, valued at $124,732,497.78. This represents a 0.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 102,830 shares of company stock valued at $5,602,913. Company insiders own 0.72% of the company’s stock.

Institutional Trading of EQT

Several institutional investors have recently bought and sold shares of the stock. Reaves W H & Co. Inc. boosted its stake in EQT by 12.9% in the fourth quarter. Reaves W H & Co. Inc. now owns 1,161,975 shares of the oil and gas producer’s stock valued at $62,282,000 after acquiring an additional 132,741 shares during the last quarter. Whittier Trust Co. grew its stake in shares of EQT by 9.6% in the first quarter. Whittier Trust Co. now owns 643,321 shares of the oil and gas producer’s stock valued at $38,857,000 after buying an additional 56,149 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of EQT by 9.1% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 583,072 shares of the oil and gas producer’s stock worth $31,253,000 after acquiring an additional 48,587 shares during the last quarter. SG Americas Securities LLC raised its holdings in EQT by 228.5% in the 4th quarter. SG Americas Securities LLC now owns 517,651 shares of the oil and gas producer’s stock valued at $27,746,000 after acquiring an additional 360,049 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its position in EQT by 5.6% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 302,193 shares of the oil and gas producer’s stock worth $18,252,000 after buying an additional 16,051 shares during the period. Institutional investors and hedge funds 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.