EQT (NYSE:EQT) Sets New 12-Month High Following Analyst Upgrade

EQT Corporation (NYSE:EQT)’s stock price reached a new 52-week high on Monday after Wells Fargo & Company raised their price target on the stock from $59.00 to $63.00. Wells Fargo & Company currently has an overweight rating on the stock. EQT traded as high as $58.75 and last traded at $58.28, with a volume of 1821972 shares trading hands. The stock had previously closed at $56.84.

EQT has been the topic of several other reports. TD Cowen raised EQT from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Tuesday, April 8th. UBS Group raised EQT from a “neutral” rating to a “buy” rating and boosted their price target for the company from $54.00 to $64.00 in a research note on Monday, May 5th. JPMorgan Chase & Co. increased their price objective on shares of EQT from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, March 13th. Wall Street Zen downgraded shares of EQT from a “hold” rating to a “sell” rating in a research note on Monday, April 7th. Finally, Stephens dropped their target price on shares of EQT from $59.00 to $57.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, EQT presently has an average rating of “Moderate Buy” and a consensus target price of $57.39.

Institutional Trading of EQT

A number of institutional investors have recently made changes to their positions in the business. Parkside Financial Bank & Trust raised its position in shares of EQT by 22.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock valued at $48,000 after purchasing an additional 193 shares during the period. Larson Financial Group LLC boosted its stake in shares of EQT by 14.1% in the 1st quarter. Larson Financial Group LLC now owns 1,582 shares of the oil and gas producer’s stock valued at $85,000 after purchasing an additional 196 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in EQT by 26.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock worth $45,000 after buying an additional 205 shares during the period. Fidelis Capital Partners LLC boosted its position in EQT by 2.6% during the 1st quarter. Fidelis Capital Partners LLC now owns 8,281 shares of the oil and gas producer’s stock worth $416,000 after buying an additional 207 shares during the period. Finally, Generali Investments Management Co LLC raised its holdings in EQT by 14.1% during the 1st quarter. Generali Investments Management Co LLC now owns 1,711 shares of the oil and gas producer’s stock worth $91,000 after purchasing an additional 211 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

EQT Trading Up 1.2%

The firm’s fifty day simple moving average is $53.53 and its 200-day simple moving average is $50.82. The stock has a market cap of $35.23 billion, a P/E ratio of 103.26, a price-to-earnings-growth ratio of 0.36 and a beta of 0.65. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.57 and a current ratio of 0.57.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.20. EQT had a net margin of 6.59% and a return on equity of 5.52%. The business had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Equities research analysts expect that EQT Corporation will post 3.27 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th were paid a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend was Wednesday, May 7th. EQT’s payout ratio is 110.53%.

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.