EQT (NYSE:EQT) Price Target Raised to $52.00

EQT (NYSE:EQT) had its price target hoisted by Wells Fargo & Company from $42.00 to $52.00 in a research note published on Monday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the oil and gas producer’s stock.

A number of other analysts have also recently commented on EQT. Morgan Stanley upped their price objective on EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday. Stephens increased their price objective on shares of EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on shares of EQT from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. Bank of America assumed coverage on shares of EQT in a research report on Monday, October 28th. They issued a “buy” rating and a $50.00 price target on the stock. Finally, BMO Capital Markets boosted their price objective on shares of EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $44.67.

EQT Stock Performance

Shares of NYSE EQT opened at $45.28 on Monday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. The firm’s 50-day moving average price is $39.14 and its 200-day moving average price is $37.16. EQT has a 52-week low of $30.02 and a 52-week high of $48.02. The company has a market cap of $27.02 billion, a PE ratio of 53.91 and a beta of 1.06.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.06. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company posted $0.30 earnings per share. As a group, analysts anticipate that EQT will post 1.38 EPS for the current year.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 6th will be paid a dividend of $0.1575 per share. The ex-dividend date is Wednesday, November 6th. This represents a $0.63 annualized dividend and a yield of 1.39%. EQT’s payout ratio is 75.00%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. HM Payson & Co. bought a new position in EQT during the third quarter valued at approximately $25,000. Innealta Capital LLC bought a new position in shares of EQT during the 2nd quarter valued at approximately $28,000. Truvestments Capital LLC purchased a new position in shares of EQT in the third quarter valued at $30,000. Hexagon Capital Partners LLC increased its position in EQT by 18,080.0% in 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. Finally, Quarry LP raised its stake in EQT by 184.7% during the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 578 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

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.