Brokerages Set EQT Corporation (NYSE:EQT) Price Target at $65.13

by · The Cerbat Gem

EQT Corporation (NYSE:EQTGet Free Report) has been given a consensus recommendation of “Moderate Buy” by the twenty-five analysts that are presently covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and nineteen have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $65.1304.

A number of analysts have commented on the company. The Goldman Sachs Group raised their price target on shares of EQT from $66.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, December 4th. Siebert Williams Shank dropped their target price on shares of EQT from $62.00 to $59.00 and set a “hold” rating on the stock in a report on Monday, October 13th. Wolfe Research lifted their target price on shares of EQT from $71.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, October 6th. William Blair assumed coverage on shares of EQT in a research note on Tuesday, October 14th. They set an “outperform” rating for the company. Finally, Scotiabank dropped their price target on EQT from $70.00 to $67.00 and set a “sector perform” rating on the stock in a research note on Friday, November 21st.

Check Out Our Latest Stock Report on EQT

EQT Stock Up 0.1%

EQT stock opened at $53.96 on Wednesday. The stock has a 50-day simple moving average of $56.60 and a two-hundred day simple moving average of $54.89. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.29. EQT has a twelve month low of $43.57 and a twelve month high of $62.23. The firm has a market capitalization of $33.67 billion, a PE ratio of 18.48, a PEG ratio of 0.43 and a beta of 0.62.

EQT (NYSE:EQTGet Free Report) last released its quarterly earnings results on Tuesday, October 21st. The oil and gas producer reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.78 billion. EQT had a net margin of 22.59% and a return on equity of 6.88%. The business’s quarterly revenue was up 52.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.12 EPS. On average, equities analysts predict that EQT will post 3.27 EPS for the current fiscal year.

EQT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Wednesday, November 5th were issued a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, November 5th. This represents a $0.66 annualized dividend and a yield of 1.2%. This is an increase from EQT’s previous quarterly dividend of $0.16. EQT’s payout ratio is currently 22.60%.

Insider Buying and Selling

In related news, EVP J.E.B. Bolen sold 1,422 shares of the firm’s stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $52.79, for a total value of $75,067.38. Following the completion of the sale, the executive vice president directly owned 69,486 shares in the company, valued at $3,668,165.94. This trade represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.65% of the stock is currently owned by insiders.

Institutional Investors Weigh In On EQT

Several hedge funds have recently made changes to their positions in the company. Sunbelt Securities Inc. purchased a new stake in EQT in the third quarter valued at approximately $114,000. Adalta Capital Management LLC boosted its holdings in shares of EQT by 71.2% in the 3rd quarter. Adalta Capital Management LLC now owns 11,300 shares of the oil and gas producer’s stock valued at $615,000 after acquiring an additional 4,700 shares during the last quarter. Horizon Investments LLC increased its stake in shares of EQT by 43.6% in the third quarter. Horizon Investments LLC now owns 85,502 shares of the oil and gas producer’s stock worth $4,640,000 after acquiring an additional 25,971 shares during the period. BOKF NA raised its holdings in shares of EQT by 8.6% during the third quarter. BOKF NA now owns 109,941 shares of the oil and gas producer’s stock worth $5,984,000 after purchasing an additional 8,663 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. acquired a new position in EQT during the third quarter valued at $522,000. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

About EQT

(Get Free Report)

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.

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