EQT (NYSE:EQT) Stock Price Up 5.7% – Should You Buy?

EQT Co. (NYSE:EQT)’s share price traded up 5.7% during mid-day trading on Wednesday . The company traded as high as $46.61 and last traded at $46.61. 12,449,310 shares were traded during mid-day trading, an increase of 76% from the average session volume of 7,084,948 shares. The stock had previously closed at $44.08.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Morgan Stanley restated an “overweight” rating and set a $45.00 price objective on shares of EQT in a research note on Friday, September 13th. Mizuho raised their price target on shares of EQT from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. upped their price objective on EQT from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. UBS Group boosted their price target on EQT from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Finally, Citigroup raised EQT from a “neutral” rating to a “buy” rating and increased their price objective for the company from $37.00 to $44.00 in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.83.

EQT Trading Down 2.1 %

The stock has a market capitalization of $27.40 billion, a PE ratio of 55.82 and a beta of 1.06. The stock’s 50 day moving average price is $37.95 and its 200-day moving average price is $36.97. 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 (NYSE:EQT) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.06. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. EQT’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.30 EPS. On average, sell-side analysts expect that EQT Co. will post 1.35 earnings per share for the current fiscal year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th will be paid a $0.1575 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.63 annualized dividend and a yield of 1.37%. EQT’s payout ratio is 75.00%.

Hedge Funds Weigh In On EQT

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP boosted its holdings in shares of EQT by 38.7% during the 3rd quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock valued at $2,716,968,000 after purchasing an additional 20,700,921 shares during the last quarter. Modera Wealth Management LLC bought a new position in EQT during the third quarter valued at approximately $562,494,000. Price T Rowe Associates Inc. MD grew its holdings in EQT by 22.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock valued at $2,405,007,000 after buying an additional 11,993,729 shares in the last quarter. State Street Corp increased its stake in EQT by 24.5% in the 3rd quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock worth $1,359,183,000 after acquiring an additional 7,290,822 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of EQT by 34.4% during the 3rd quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after acquiring an additional 3,582,418 shares in the last quarter. Institutional investors own 90.81% of the company’s stock.

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.