EQT (NYSE:EQT) Price Target Raised to $40.00

EQT (NYSE:EQT) had its price target raised by Mizuho from $39.00 to $40.00 in a research note released on Tuesday, Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock.

Several other equities research analysts also recently commented on EQT. Truist Financial dropped their price objective on shares of EQT from $37.00 to $35.00 and set a hold rating on the stock in a report on Friday, April 5th. Royal Bank of Canada reaffirmed an outperform rating and set a $46.00 price objective on shares of EQT in a report on Tuesday, March 5th. Piper Sandler increased their price target on shares of EQT from $45.00 to $47.00 and gave the stock an overweight rating in a report on Thursday, March 7th. Scotiabank raised shares of EQT from a sector perform rating to a sector outperform rating and increased their price target for the stock from $40.00 to $52.00 in a report on Thursday, April 11th. Finally, Jefferies Financial Group increased their price target on shares of EQT from $42.00 to $43.00 and gave the stock a buy rating in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $43.80.

EQT Price Performance

Shares of NYSE:EQT opened at $36.22 on Tuesday. The company has a market capitalization of $15.95 billion, a P/E ratio of 8.52 and a beta of 1.12. EQT has a fifty-two week low of $30.84 and a fifty-two week high of $45.23. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.99 and a current ratio of 0.99. The company’s 50-day moving average is $35.88 and its 200 day moving average is $38.08.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.48 EPS for the quarter, beating the consensus estimate of $0.47 by $0.01. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.58 billion. EQT had a net margin of 25.12% and a return on equity of 7.12%. The company’s revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 earnings per share. On average, equities research analysts forecast that EQT will post 1.4 earnings per share for the current year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 8th will be given a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.74%. EQT’s dividend payout ratio (DPR) is 14.82%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its position in shares of EQT by 6.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 52,883,676 shares of the oil and gas producer’s stock worth $2,044,484,000 after purchasing an additional 3,159,700 shares during the last quarter. Vanguard Group Inc. increased its position in shares of EQT by 4.5% in the fourth quarter. Vanguard Group Inc. now owns 46,922,862 shares of the oil and gas producer’s stock worth $1,814,038,000 after purchasing an additional 2,023,222 shares during the last quarter. Wellington Management Group LLP grew its position in EQT by 3.2% during the fourth quarter. Wellington Management Group LLP now owns 20,320,219 shares of the oil and gas producer’s stock valued at $785,580,000 after acquiring an additional 632,625 shares during the last quarter. Bank of New York Mellon Corp grew its position in EQT by 6.5% during the third quarter. Bank of New York Mellon Corp now owns 18,037,923 shares of the oil and gas producer’s stock valued at $731,979,000 after acquiring an additional 1,098,211 shares during the last quarter. Finally, Capital World Investors grew its position in EQT by 1.5% during the fourth quarter. Capital World Investors now owns 17,425,711 shares of the oil and gas producer’s stock valued at $673,678,000 after acquiring an additional 265,297 shares during the last quarter. 90.81% of the stock is currently owned by 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.