Truist Financial Issues Positive Forecast for EQT (NYSE:EQT) Stock Price

EQT (NYSE:EQT) had its price target raised by Truist Financial from $32.00 to $41.00 in a research note published on Tuesday,Benzinga reports. Truist Financial currently has a hold rating on the oil and gas producer’s stock.

Several other research analysts have also weighed in on EQT. UBS Group boosted their price objective on shares of EQT from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Bank of America began coverage on EQT in a research report on Monday, October 28th. They set a “buy” rating and a $50.00 price target on the stock. Mizuho lifted their target price on EQT from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Morgan Stanley increased their price target on EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Piper Sandler raised their price target on EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $44.67.

EQT Stock Performance

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

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, beating the consensus estimate of $0.06 by $0.06. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.30 EPS. Analysts predict that EQT will post 1.38 earnings per share for the current fiscal year.

EQT Announces Dividend

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

Institutional Investors Weigh In On EQT

Institutional investors have recently made changes to their positions in the stock. HM Payson & Co. acquired a new position in EQT in the 3rd quarter valued at $25,000. Innealta Capital LLC bought a new position in shares of EQT in the second quarter worth $28,000. Truvestments Capital LLC acquired a new position in EQT in the third quarter valued at about $30,000. Quarry LP grew 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 worth $33,000 after buying an additional 578 shares in the last quarter. Finally, Hexagon Capital Partners LLC increased its holdings in EQT by 18,080.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 904 shares during the period. 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.