EQT (NYSE:EQT) Price Target Raised to $34.00

by · The Markets Daily

EQT (NYSE:EQT – Free Report) had its price target raised by Piper Sandler from $32.00 to $34.00 in a research report report published on Monday, Benzinga reports. The firm currently has a neutral rating on the oil and gas producer’s stock.

Other equities research analysts have also recently issued research reports about the company. Citigroup upgraded EQT from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $37.00 to $44.00 in a report on Thursday, October 3rd. Scotiabank increased their price objective on EQT from $54.00 to $55.00 and gave the stock a “sector outperform” rating in a report on Friday, July 12th. Truist Financial dropped their price objective on EQT from $36.00 to $32.00 and set a “hold” rating for the company in a report on Monday, July 22nd. UBS Group raised their target price on EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Bank of America initiated coverage on EQT in a research note on Monday, October 28th. They issued a “buy” rating and a $50.00 target price for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $42.83.

Get Our Latest Report on EQT

EQT Trading Up 7.5 %

Shares of EQT stock opened at $40.20 on Monday. The stock has a market capitalization of $17.75 billion, a PE ratio of 47.86 and a beta of 1.06. EQT has a 1-year low of $30.02 and a 1-year high of $42.44. The business has a 50-day moving average of $35.56 and a 200 day moving average of $36.64. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51.

EQT (NYSE:EQT – Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter last year, the business posted $0.30 EPS. The business’s revenue was up 8.2% on a year-over-year basis. As a group, sell-side analysts anticipate that EQT will post 1.42 earnings per share for the current year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 6th will be given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Wednesday, November 6th. EQT’s dividend payout ratio (DPR) is presently 75.00%.

Institutional Trading of EQT

A number of institutional investors and hedge funds have recently modified their holdings of EQT. Wealth Enhancement Advisory Services LLC raised its stake in shares of EQT by 3.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,034 shares of the oil and gas producer’s stock worth $1,002,000 after purchasing an additional 932 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of EQT by 1.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 896,602 shares of the oil and gas producer’s stock worth $33,237,000 after purchasing an additional 13,234 shares during the last quarter. Norden Group LLC purchased a new position in shares of EQT in the first quarter worth $401,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of EQT by 21.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 96,613 shares of the oil and gas producer’s stock worth $3,319,000 after purchasing an additional 16,891 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of EQT by 2.2% in the first quarter. Janney Montgomery Scott LLC now owns 118,482 shares of the oil and gas producer’s stock worth $4,392,000 after purchasing an additional 2,594 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

About EQT

(Get Free Report)

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.

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