Stephens Raises EQT (NYSE:EQT) Price Target to $47.00

EQT (NYSE:EQT) had its price target increased by Stephens from $46.00 to $47.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an equal weight rating on the oil and gas producer’s stock.

Several other research firms have also recently weighed in on EQT. Wells Fargo & Company cut EQT from an overweight rating to an equal weight rating and dropped their price target for the stock from $48.00 to $37.00 in a report on Wednesday, April 17th. Truist Financial dropped their price target on EQT from $37.00 to $35.00 and set a hold rating for the company in a report on Friday, April 5th. Morgan Stanley lifted their price target on EQT from $37.00 to $49.00 and gave the stock an overweight rating in a report on Wednesday, April 17th. Royal Bank of Canada reissued an outperform rating and set a $46.00 price target on shares of EQT in a report on Tuesday, March 5th. Finally, TD Cowen initiated coverage on EQT in a report on Friday, April 19th. They set a hold rating and a $43.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, EQT has a consensus rating of Hold and a consensus price target of $44.25.

EQT Stock Performance

Shares of NYSE EQT opened at $40.61 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.99 and a debt-to-equity ratio of 0.32. EQT has a 12 month low of $30.84 and a 12 month high of $45.23. The stock has a 50 day moving average of $36.43 and a 200-day moving average of $37.94. The company has a market capitalization of $17.93 billion, a P/E ratio of 29.43 and a beta of 1.12.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 EPS for the quarter, topping the consensus estimate of $0.65 by $0.17. EQT had a return on equity of 4.57% and a net margin of 10.96%. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the company posted $1.70 EPS. The firm’s revenue for the quarter was down 28.8% compared to the same quarter last year. As a group, equities research analysts predict that EQT will post 1.01 EPS for the current year.

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 8th will be given a dividend of $0.1575 per share. The ex-dividend date is Tuesday, May 7th. This represents a $0.63 annualized dividend and a dividend yield of 1.55%. EQT’s dividend payout ratio is currently 45.65%.

Institutional Trading of EQT

Several institutional investors and hedge funds have recently modified their holdings of the business. KG&L Capital Management LLC bought a new stake in shares of EQT during the 1st quarter worth $270,000. Bank of New York Mellon Corp lifted its position in shares of EQT by 27.9% during the 1st quarter. Bank of New York Mellon Corp now owns 19,883,694 shares of the oil and gas producer’s stock worth $737,089,000 after buying an additional 4,339,407 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of EQT by 33.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 91,403 shares of the oil and gas producer’s stock worth $3,388,000 after buying an additional 22,681 shares during the last quarter. Whalen Wealth Management Inc. bought a new stake in shares of EQT during the 1st quarter worth $453,000. Finally, Simplicity Wealth LLC bought a new stake in shares of EQT during the 1st quarter worth $5,091,000. 90.81% of the stock is currently owned by institutional investors.

About EQT

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.