UBS Group Has Lowered Expectations for EQT (NYSE:EQT) Stock Price

EQT (NYSE:EQT) had its price objective trimmed by UBS Group from $55.00 to $54.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the oil and gas producer’s stock.

Other research analysts have also recently issued research reports about the stock. Truist Financial upped their target price on shares of EQT from $41.00 to $56.00 and gave the company a “hold” rating in a research report on Monday, January 13th. 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. The Goldman Sachs Group restated a “reduce” rating on shares of EQT in a research report on Wednesday, February 12th. Citigroup increased their target price on EQT from $51.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, March 17th. Finally, Jefferies Financial Group boosted their price target on shares of EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, EQT presently has a consensus rating of “Moderate Buy” and an average price target of $55.56.

EQT Price Performance

NYSE:EQT opened at $51.01 on Thursday. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37. EQT has a 12 month low of $30.02 and a 12 month high of $56.66. The firm has a market cap of $30.47 billion, a P/E ratio of 127.52, a price-to-earnings-growth ratio of 0.64 and a beta of 1.35. The stock has a 50 day moving average of $50.75 and a two-hundred day moving average of $46.68.

EQT (NYSE:EQT) last released its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.19. EQT had a net margin of 4.37% and a return on equity of 4.35%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.81 billion. On average, analysts expect that EQT will post 3.27 earnings per share for the current fiscal year.

EQT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, May 7th will be paid a $0.1575 dividend. The ex-dividend date is Wednesday, May 7th. This represents a $0.63 annualized dividend and a yield of 1.24%. EQT’s payout ratio is currently 157.50%.

Hedge Funds Weigh In On EQT

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of EQT by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 72,530,286 shares of the oil and gas producer’s stock valued at $3,344,371,000 after purchasing an additional 358,649 shares in the last quarter. Geode Capital Management LLC increased its position in shares of EQT by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 14,427,307 shares of the oil and gas producer’s stock worth $663,552,000 after acquiring an additional 429,733 shares in the last quarter. Capital International Investors raised its stake in shares of EQT by 21.3% in the 4th quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer’s stock valued at $638,867,000 after acquiring an additional 2,433,632 shares during the period. Clearbridge Investments LLC boosted its position in EQT by 14.7% during the 4th quarter. Clearbridge Investments LLC now owns 13,829,938 shares of the oil and gas producer’s stock worth $637,698,000 after purchasing an additional 1,774,696 shares during the period. Finally, Invesco Ltd. increased its holdings in EQT by 46.3% in the 4th quarter. Invesco Ltd. now owns 13,143,774 shares of the oil and gas producer’s stock valued at $606,059,000 after purchasing an additional 4,162,065 shares in 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.