EQT (NYSE:EQT – Free Report) had its price target increased by Wells Fargo & Company from $59.00 to $63.00 in a report published on Monday,Benzinga reports. The firm currently has an overweight rating on the oil and gas producer’s stock.
Other analysts have also recently issued reports about the company. Scotiabank reissued a “sector perform” rating and issued a $62.00 target price (up from $57.00) on shares of EQT in a research report on Thursday, May 22nd. Mizuho boosted their price objective on EQT from $57.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, April 1st. TD Cowen raised EQT from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a report on Tuesday, April 8th. JPMorgan Chase & Co. lifted their target price on shares of EQT from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, March 13th. Finally, Citigroup upped their price target on shares of EQT from $51.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, March 17th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $57.39.
Check Out Our Latest Analysis on EQT
EQT Trading Up 0.9%
EQT (NYSE:EQT – Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.20. The firm had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.16 billion. EQT had a net margin of 6.59% and a return on equity of 5.52%. On average, equities analysts forecast that EQT will post 3.27 EPS for the current fiscal year.
EQT Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Wednesday, May 7th were issued a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Wednesday, May 7th. EQT’s payout ratio is 110.53%.
Hedge Funds Weigh In On EQT
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Drummond Knight Asset Management Pty Ltd boosted its position in shares of EQT by 26.2% during the 1st quarter. Drummond Knight Asset Management Pty Ltd now owns 281,569 shares of the oil and gas producer’s stock worth $15,044,000 after purchasing an additional 58,436 shares in the last quarter. Hodges Capital Management Inc. acquired a new stake in shares of EQT in the first quarter valued at about $1,977,000. Strs Ohio purchased a new stake in EQT during the first quarter worth about $1,844,000. Geneos Wealth Management Inc. boosted its holdings in EQT by 31.6% during the first quarter. Geneos Wealth Management Inc. now owns 5,301 shares of the oil and gas producer’s stock worth $283,000 after buying an additional 1,273 shares in the last quarter. Finally, IFM Investors Pty Ltd grew its position in EQT by 10.2% during the first quarter. IFM Investors Pty Ltd now owns 96,218 shares of the oil and gas producer’s stock worth $5,141,000 after buying an additional 8,918 shares during the period. Institutional investors and hedge funds 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.
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