EQT (NYSE:EQT) Stock Rating Reaffirmed by Piper Sandler

Piper Sandler reiterated their overweight rating on shares of EQT (NYSE:EQT) in a research note published on Tuesday morning, Benzinga reports. The firm currently has a $46.00 target price on the oil and gas producer’s stock, up from their previous target price of $41.00.

EQT has been the topic of a number of other reports. JPMorgan Chase & Co. reaffirmed a neutral rating and set a $37.00 price target (down from $39.00) on shares of EQT in a research report on Wednesday, March 20th. Stephens increased their price target on EQT from $46.00 to $47.00 and gave the stock an equal weight rating in a research report on Wednesday, April 24th. Royal Bank of Canada reaffirmed an outperform rating and issued a $46.00 price objective on shares of EQT in a report on Tuesday, March 5th. Truist Financial reduced their target price on EQT from $37.00 to $35.00 and set a hold rating on the stock in a report on Friday, April 5th. Finally, Sanford C. Bernstein raised EQT from an underperform rating to a market perform rating and boosted their price target for the company from $27.00 to $34.00 in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, EQT has an average rating of Hold and an average target price of $44.56.

EQT Stock Up 2.0 %

EQT stock opened at $40.27 on Tuesday. EQT has a 1-year low of $30.84 and a 1-year high of $45.23. The business’s 50 day simple moving average is $36.75 and its 200 day simple moving average is $37.88. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $17.78 billion, a PE ratio of 29.18 and a beta of 1.09.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, April 23rd. The oil and gas producer reported $0.82 EPS for the quarter, beating the consensus estimate of $0.65 by $0.17. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.58 billion. EQT had a net margin of 10.96% and a return on equity of 4.57%. The company’s quarterly revenue was down 28.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.70 earnings per share. As a group, research analysts anticipate that EQT will post 1.12 EPS for the current year.

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 8th will be issued a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Tuesday, May 7th. EQT’s dividend payout ratio (DPR) is 45.65%.

Hedge Funds Weigh In On EQT

Several large investors have recently bought and sold shares of EQT. Price T Rowe Associates Inc. MD increased its position in EQT by 6.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 52,883,676 shares of the oil and gas producer’s stock valued at $2,044,484,000 after acquiring an additional 3,159,700 shares during the period. Vanguard Group Inc. increased its holdings in EQT by 4.5% in the fourth quarter. Vanguard Group Inc. now owns 46,922,862 shares of the oil and gas producer’s stock valued at $1,814,038,000 after purchasing an additional 2,023,222 shares during the period. Wellington Management Group LLP raised its position in EQT by 3.2% during the 4th quarter. Wellington Management Group LLP now owns 20,320,219 shares of the oil and gas producer’s stock worth $785,580,000 after purchasing an additional 632,625 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in 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 period. Finally, Capital World Investors grew its position in shares of EQT by 1.5% in the 4th quarter. Capital World Investors now owns 17,425,711 shares of the oil and gas producer’s stock valued at $673,678,000 after buying an additional 265,297 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors.

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.