EQT Co. (NYSE:EQT) Receives $45.24 Consensus Price Target from Brokerages

29 Jun 2024, 08:28 by Danessa Lincoln · The Markets Daily

EQT Co. (NYSE:EQT – Get Free Report) has earned an average rating of “Moderate Buy” from the sixteen research firms that are presently covering the company, Marketbeat reports. Eight research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $45.24.

EQT has been the subject of several research analyst reports. Stephens upped their target price on EQT from $46.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 24th. TD Cowen initiated coverage on EQT in a research note on Friday, April 19th. They set a “hold” rating and a $43.00 target price for the company. BMO Capital Markets upped their target price on EQT from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, May 13th. Morgan Stanley upped their target price on EQT from $37.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Finally, Piper Sandler reiterated an “overweight” rating and set a $46.00 price target (up from $41.00) on shares of EQT in a research report on Tuesday, April 30th.

Read Our Latest Analysis on EQT

Insider Buying and Selling at EQT

In other EQT news, EVP William E. Jordan sold 35,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $40.72, for a total value of $1,425,200.00. Following the completion of the sale, the executive vice president now directly owns 456,837 shares in the company, valued at approximately $18,602,402.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Lesley Evancho sold 46,884 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $41.29, for a total transaction of $1,935,840.36. Following the completion of the transaction, the insider now directly owns 160,884 shares in the company, valued at approximately $6,642,900.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP William E. Jordan sold 35,000 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $40.72, for a total value of $1,425,200.00. Following the transaction, the executive vice president now owns 456,837 shares of the company’s stock, valued at $18,602,402.64. The disclosure for this sale can be found here. 0.63% of the stock is owned by company insiders.

Hedge Funds Weigh In On EQT

A number of hedge funds have recently modified their holdings of EQT. Private Wealth Management Group LLC purchased a new position in shares of EQT during the 4th quarter worth $30,000. BKM Wealth Management LLC acquired a new position in EQT during the 4th quarter worth about $40,000. Principal Securities Inc. acquired a new position in EQT during the 4th quarter worth about $51,000. EntryPoint Capital LLC acquired a new position in EQT during the 1st quarter worth about $54,000. Finally, Massmutual Trust Co. FSB ADV lifted its stake in EQT by 52.6% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,563 shares of the oil and gas producer’s stock worth $60,000 after acquiring an additional 539 shares in the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Trading Down 0.8 %

Shares of NYSE:EQT opened at $36.98 on Friday. EQT has a 12-month low of $32.07 and a 12-month high of $45.23. The company has a market capitalization of $16.33 billion, a PE ratio of 26.80 and a beta of 1.06. The business has a 50 day moving average of $39.87 and a two-hundred day moving average of $37.63. 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 (NYSE:EQT – Get Free Report) last announced its earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.17. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.58 billion. EQT had a return on equity of 4.57% and a net margin of 10.96%. The business’s quarterly revenue was down 28.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.70 EPS. As a group, analysts forecast that EQT will post 1.05 EPS for the current year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Wednesday, May 8th were issued a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Tuesday, May 7th. EQT’s payout ratio is currently 45.65%.

EQT Company Profile

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