EQT’s (EQT) Overweight Rating Reiterated at Piper Sandler

Piper Sandler restated their overweight rating on shares of EQT (NYSE:EQT) in a research report sent to investors on Tuesday, Benzinga reports. Piper Sandler currently has a $46.00 price objective on the oil and gas producer’s stock, up from their previous price objective of $41.00.

A number of other research analysts have also weighed in on the stock. TD Cowen assumed coverage on shares of EQT in a research note on Friday, April 19th. They issued a hold rating and a $43.00 price objective on the stock. Wells Fargo & Company downgraded EQT from an overweight rating to an equal weight rating and cut their price target for the company from $48.00 to $37.00 in a research note on Wednesday, April 17th. Stephens boosted their price objective on EQT from $46.00 to $47.00 and gave the stock an equal weight rating in a report on Wednesday, April 24th. Scotiabank raised EQT from a sector perform rating to a sector outperform rating and lifted their target price for the company from $40.00 to $52.00 in a research report on Thursday, April 11th. Finally, Royal Bank of Canada reaffirmed an outperform rating and set a $46.00 price objective on shares of EQT in a report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $44.56.

EQT Trading Up 2.0 %

EQT stock traded up $0.79 during trading hours on Tuesday, reaching $40.27. 5,992,967 shares of the company’s stock were exchanged, compared to its average volume of 6,593,218. The firm’s 50 day simple moving average is $36.75 and its 200 day simple moving average is $37.88. EQT has a twelve month low of $30.84 and a twelve month high of $45.23. The company has a quick ratio of 0.88, a current 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 announced its quarterly earnings data on Tuesday, April 23rd. The oil and gas producer reported $0.82 EPS for the quarter, topping the consensus estimate of $0.65 by $0.17. EQT had a net margin of 10.96% and a return on equity of 4.57%. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the firm posted $1.70 EPS. The company’s quarterly revenue was down 28.8% on a year-over-year basis. Research analysts predict that EQT will post 1.12 earnings per share for the current year.

EQT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th will be paid a $0.1575 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.63 annualized dividend and a dividend yield of 1.56%. EQT’s payout ratio is 45.65%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Private Wealth Management Group LLC purchased a new stake in shares of EQT during the fourth quarter worth $30,000. BKM Wealth Management LLC purchased a new stake in EQT during the 4th quarter worth about $40,000. Principal Securities Inc. bought a new position in EQT in the 4th quarter worth about $51,000. Allworth Financial LP grew its holdings in EQT by 26.9% during the 3rd quarter. Allworth Financial LP now owns 1,332 shares of the oil and gas producer’s stock valued at $54,000 after buying an additional 282 shares in the last quarter. Finally, First Command Advisory Services Inc. purchased a new stake in shares of EQT in the third quarter worth about $54,000. 90.81% of the stock is owned by institutional investors.

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.