Citigroup Forecasts Strong Price Appreciation for EQT (NYSE:EQT) Stock

EQT (NYSE:EQT) had its price objective boosted by Citigroup from $44.00 to $51.00 in a research note issued to investors on Friday morning,Benzinga reports. Citigroup currently has a buy rating on the oil and gas producer’s stock.

A number of other analysts have also recently weighed in on EQT. BMO Capital Markets raised their price target on shares of EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Piper Sandler lifted their target price on shares of EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Truist Financial lifted their target price on shares of EQT from $32.00 to $41.00 and gave the stock a “hold” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. lifted their target price on shares of EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Finally, Bank of America initiated coverage on shares of EQT in a research note on Monday, October 28th. They issued a “buy” rating and a $50.00 target price for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $46.11.

EQT Trading Down 2.5 %

NYSE EQT opened at $43.33 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. The company has a market capitalization of $25.85 billion, a price-to-earnings ratio of 51.58 and a beta of 1.14. The company’s 50-day simple moving average is $40.22 and its two-hundred day simple moving average is $37.26. EQT has a one year low of $30.02 and a one year high of $48.02.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same period last year, the business earned $0.30 EPS. The company’s revenue was up 8.2% compared to the same quarter last year. Equities analysts forecast that EQT will post 1.36 EPS for the current fiscal year.

EQT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th were issued a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Wednesday, November 6th. EQT’s payout ratio is 75.00%.

Insider Transactions at EQT

In other news, Director Thomas F. Karam sold 30,154 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the transaction, the director now owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. The trade was a 13.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. HM Payson & Co. acquired a new position in EQT in the third quarter valued at about $25,000. Innealta Capital LLC acquired a new position in EQT in the second quarter valued at about $28,000. Truvestments Capital LLC acquired a new position in EQT in the third quarter valued at about $30,000. Hexagon Capital Partners LLC lifted its position in EQT by 18,080.0% in the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 904 shares during the last quarter. Finally, Quarry LP lifted its position in EQT by 184.7% in the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 578 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

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.