EQT (NYSE:EQT) Sets New 1-Year High – Here’s What Happened

EQT Corporation (NYSE:EQT) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $61.02 and last traded at $60.04, with a volume of 1380851 shares changing hands. The stock had previously closed at $60.44.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on EQT shares. JPMorgan Chase & Co. lifted their price objective on shares of EQT from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, March 13th. Wall Street Zen cut shares of EQT from a “hold” rating to a “sell” rating in a report on Monday, April 7th. Wells Fargo & Company boosted their price target on shares of EQT from $59.00 to $63.00 and gave the stock an “overweight” rating in a report on Monday, June 16th. Piper Sandler boosted their price target on shares of EQT from $35.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, May 13th. Finally, Scotiabank restated a “sector perform” rating and set a $62.00 price target (up from $57.00) on shares of EQT in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $58.00.

EQT Trading Up 1.7%

The firm’s 50-day simple moving average is $54.53 and its 200 day simple moving average is $51.35. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.33. The firm has a market cap of $36.15 billion, a P/E ratio of 105.95, a price-to-earnings-growth ratio of 0.37 and a beta of 0.65.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.20. EQT had a net margin of 6.59% and a return on equity of 5.52%. The company had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.16 billion. As a group, analysts expect that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Wednesday, May 7th were given a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Wednesday, May 7th. EQT’s dividend payout ratio (DPR) is currently 110.53%.

Institutional Trading of EQT

Hedge funds and other institutional investors have recently modified their holdings of the business. D.A. Davidson & CO. raised its position in shares of EQT by 13.4% in the fourth quarter. D.A. Davidson & CO. now owns 6,467 shares of the oil and gas producer’s stock valued at $298,000 after purchasing an additional 762 shares during the period. Teacher Retirement System of Texas bought a new stake in EQT during the 4th quarter worth approximately $244,000. National Pension Service increased its holdings in EQT by 15.0% during the 4th quarter. National Pension Service now owns 870,013 shares of the oil and gas producer’s stock worth $40,116,000 after acquiring an additional 113,600 shares during the period. Aviva PLC bought a new stake in EQT during the 4th quarter worth approximately $14,719,000. Finally, Proficio Capital Partners LLC bought a new stake in EQT during the 4th quarter worth approximately $5,119,000. 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.