EQT (NYSE:EQT) Given “Overweight” Rating at Piper Sandler

Piper Sandler restated their overweight rating on shares of EQT (NYSE:EQT) in a research report report published on Tuesday morning, Benzinga reports. The firm currently has a $46.00 price objective on the oil and gas producer’s stock, up from their prior price objective of $41.00.

A number of other equities analysts have also recently weighed in on the company. Wells Fargo & Company cut EQT from an overweight rating to an equal weight rating and decreased their price objective for the company from $48.00 to $37.00 in a report on Wednesday, April 17th. The Goldman Sachs Group cut their target price on shares of EQT from $48.00 to $43.00 and set a buy rating on the stock in a research note on Tuesday, April 2nd. Royal Bank of Canada reissued an outperform rating and set a $46.00 price objective on shares of EQT in a research report on Tuesday, March 5th. Scotiabank upgraded EQT from a sector perform rating to a sector outperform rating and upped their price target for the stock from $40.00 to $52.00 in a research note on Thursday, April 11th. Finally, Sanford C. Bernstein raised shares of EQT from an underperform rating to a market perform rating and lifted their target price for the stock from $27.00 to $34.00 in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, EQT currently has a consensus rating of Hold and an average target price of $44.56.

EQT Stock Up 2.0 %

EQT stock opened at $40.27 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32. EQT has a 1-year low of $30.84 and a 1-year high of $45.23. The stock has a market cap of $17.78 billion, a price-to-earnings ratio of 29.18 and a beta of 1.09. The company’s 50 day moving average is $36.75 and its 200 day moving average is $37.88.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.58 billion. EQT had a net margin of 10.96% and a return on equity of 4.57%. The firm’s revenue was down 28.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.70 EPS. Sell-side analysts predict that EQT will post 1.12 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th will be paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Tuesday, May 7th. EQT’s dividend payout ratio (DPR) is currently 45.65%.

Institutional Investors Weigh In On EQT

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EQT. Private Wealth Management Group LLC bought a new position in shares of EQT in the fourth quarter worth approximately $30,000. BKM Wealth Management LLC purchased a new stake in EQT in the 4th quarter worth $40,000. Principal Securities Inc. purchased a new position in shares of EQT in the fourth quarter valued at about $51,000. Allworth Financial LP boosted its stake in shares of EQT by 26.9% in the third quarter. Allworth Financial LP now owns 1,332 shares of the oil and gas producer’s stock worth $54,000 after acquiring an additional 282 shares during the period. Finally, First Command Advisory Services Inc. purchased a new stake in shares of EQT during the third quarter worth about $54,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

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.