EQT (NYSE:EQT) Stock Price Up 5.7% – Time to Buy?

by · The Markets Daily

EQT Co. (NYSE:EQT – Get Free Report) shares rose 5.7% during trading on Wednesday . The stock traded as high as $46.61 and last traded at $46.61. Approximately 12,449,310 shares traded hands during mid-day trading, an increase of 76% from the average daily volume of 7,084,948 shares. The stock had previously closed at $44.08.

Analyst Ratings Changes

EQT has been the topic of several research analyst reports. Mizuho raised their price objective on EQT from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Morgan Stanley reissued an “overweight” rating and issued a $45.00 price objective on shares of EQT in a report on Friday, September 13th. Bank of America started coverage on EQT in a research note on Monday, October 28th. They issued a “buy” rating and a $50.00 price target on the stock. Piper Sandler lifted their price target on EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Finally, UBS Group lifted their price target on EQT from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. One research 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.83.

Get Our Latest Report on EQT

EQT Trading Up 5.6 %

The company has a 50-day moving average price of $37.39 and a 200-day moving average price of $36.83. The firm has a market capitalization of $27.77 billion, a price-to-earnings ratio of 52.48 and a beta of 1.06. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current 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 (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.06. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.30 EPS. As a group, research analysts forecast that EQT Co. will post 1.28 EPS for the current fiscal year.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 6th will be given a $0.1575 dividend. The ex-dividend date is Wednesday, November 6th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.35%. EQT’s dividend payout ratio (DPR) is presently 75.00%.

Institutional Trading of EQT

Large investors have recently made changes to their positions in the company. Avantax Advisory Services Inc. lifted its position in EQT by 19.2% during the 1st quarter. Avantax Advisory Services Inc. now owns 7,284 shares of the oil and gas producer’s stock worth $270,000 after acquiring an additional 1,172 shares during the period. UniSuper Management Pty Ltd lifted its position in EQT by 563.1% during the 1st quarter. UniSuper Management Pty Ltd now owns 29,102 shares of the oil and gas producer’s stock worth $1,079,000 after acquiring an additional 24,713 shares during the period. Bessemer Group Inc. lifted its position in EQT by 47.3% during the 1st quarter. Bessemer Group Inc. now owns 44,518 shares of the oil and gas producer’s stock worth $1,650,000 after acquiring an additional 14,301 shares during the period. MQS Management LLC acquired a new stake in EQT during the 1st quarter worth approximately $232,000. Finally, EntryPoint Capital LLC acquired a new stake in EQT during the 1st quarter worth approximately $54,000. 90.81% of the stock is owned by institutional investors and hedge funds.

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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