EQT Corporation (NYSE:EQT) Receives $63.65 Average Target Price from Brokerages

Shares of EQT Corporation (NYSE:EQT) have been assigned an average recommendation of “Moderate Buy” from the twenty-five ratings firms that are currently covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and eighteen have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $63.6522.

A number of research firms have issued reports on EQT. JPMorgan Chase & Co. decreased their price target on shares of EQT from $64.00 to $62.00 and set an “overweight” rating for the company in a report on Tuesday, September 30th. BMO Capital Markets lifted their price target on EQT from $60.00 to $65.00 in a research report on Tuesday, November 11th. Roth Capital cut EQT from a “strong-buy” rating to a “neutral” rating and reduced their price objective for the company from $75.00 to $57.00 in a research report on Monday, August 18th. William Blair started coverage on shares of EQT in a research note on Tuesday, October 14th. They issued an “outperform” rating on the stock. Finally, Citigroup upped their target price on shares of EQT from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd.

Insiders Place Their Bets

In related news, EVP J.E.B. Bolen sold 1,422 shares of the business’s stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $52.79, for a total transaction of $75,067.38. Following the transaction, the executive vice president directly owned 69,486 shares in the company, valued at $3,668,165.94. The trade was a 2.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.65% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Zions Bancorporation National Association UT acquired a new stake in EQT during the first quarter valued at approximately $35,000. Harbour Investments Inc. raised its holdings in shares of EQT by 48.4% in the 1st quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer’s stock worth $37,000 after buying an additional 226 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of EQT during the 2nd quarter worth approximately $41,000. Anchor Investment Management LLC lifted its position in shares of EQT by 133.3% during the 2nd 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 during the period. Finally, Private Trust Co. NA boosted its stake in EQT by 38.1% in the 2nd quarter. Private Trust Co. NA now owns 1,026 shares of the oil and gas producer’s stock valued at $60,000 after buying an additional 283 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Trading Down 0.6%

Shares of EQT stock opened at $60.50 on Friday. EQT has a 12 month low of $42.27 and a 12 month high of $61.26. The company has a market cap of $37.75 billion, a PE ratio of 20.72, a price-to-earnings-growth ratio of 0.44 and a beta of 0.55. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average is $56.02 and its two-hundred day moving average is $54.83.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, October 21st. The oil and gas producer reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.02. EQT had a net margin of 22.59% and a return on equity of 6.88%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.78 billion. EQT’s quarterly revenue was up 52.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.12 EPS. Equities analysts predict that EQT will post 3.27 EPS for the current year.

EQT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Wednesday, November 5th were paid a $0.165 dividend. The ex-dividend date was Wednesday, November 5th. This is a boost from EQT’s previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a dividend yield of 1.1%. EQT’s dividend payout ratio is 22.60%.

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.