EQT (NYSE:EQT) Price Target Cut to $42.00 by Analysts at Jefferies Financial Group

EQT (NYSE:EQT) had its price objective trimmed by Jefferies Financial Group from $50.00 to $42.00 in a research report report published on Monday, Benzinga reports. The brokerage currently has a buy rating on the oil and gas producer’s stock.

Several other equities research analysts also recently weighed in on EQT. Mizuho downgraded shares of EQT from a buy rating to a neutral rating and reduced their target price for the company from $46.00 to $39.00 in a research note on Wednesday, March 13th. StockNews.com upgraded shares of EQT to a sell rating in a report on Tuesday, March 12th. Citigroup upgraded shares of EQT from a neutral rating to a buy rating and set a $46.00 price objective for the company in a report on Monday, December 11th. Truist Financial decreased their price objective on shares of EQT from $41.00 to $39.00 and set a hold rating for the company in a report on Thursday, February 15th. Finally, Royal Bank of Canada reiterated an outperform rating and set a $46.00 price objective on shares of EQT in a report on Tuesday, March 5th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, EQT presently has an average rating of Hold and a consensus price target of $43.54.

EQT Price Performance

Shares of NYSE:EQT opened at $37.08 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a fifty day moving average price of $35.34 and a 200 day moving average price of $38.49. EQT has a fifty-two week low of $30.79 and a fifty-two week high of $45.23. The firm has a market cap of $16.33 billion, a price-to-earnings ratio of 8.72 and a beta of 1.13.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.48 EPS for the quarter, beating the consensus estimate of $0.47 by $0.01. EQT had a net margin of 25.12% and a return on equity of 7.12%. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the business earned $0.42 earnings per share. EQT’s quarterly revenue was up 17.6% compared to the same quarter last year. As a group, sell-side analysts expect that EQT will post 2.38 earnings per share for the current fiscal year.

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Tuesday, February 20th were given a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Friday, February 16th. EQT’s payout ratio is currently 14.82%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of EQT. Private Wealth Management Group LLC purchased a new stake in EQT during the 4th quarter worth approximately $30,000. Laurel Wealth Advisors LLC purchased a new stake in EQT during the 2nd quarter worth approximately $33,000. BKM Wealth Management LLC purchased a new stake in EQT during the 4th quarter worth approximately $40,000. Belpointe Asset Management LLC grew its position in EQT by 270.0% during the 1st quarter. Belpointe Asset Management LLC now owns 1,258 shares of the oil and gas producer’s stock worth $40,000 after purchasing an additional 918 shares during the last quarter. Finally, Tyler Stone Wealth Management purchased a new stake in EQT during the 2nd quarter worth approximately $40,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Company Profile

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.