EQT (NYSE:EQT) Sets New 52-Week High – Here’s Why

EQT Co. (NYSE:EQT) hit a new 52-week high during trading on Tuesday . The company traded as high as $57.37 and last traded at $56.66, with a volume of 1974003 shares. The stock had previously closed at $55.56.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. UBS Group upgraded EQT from a “neutral” rating to a “buy” rating and upped their target price for the company from $54.00 to $64.00 in a report on Monday, May 5th. Morgan Stanley increased their price objective on EQT from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Wells Fargo & Company increased their target price on shares of EQT from $53.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 19th. The Goldman Sachs Group reaffirmed a “reduce” rating on shares of EQT in a research report on Wednesday, February 12th. Finally, Stephens decreased their price objective on shares of EQT from $59.00 to $57.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.67.

EQT Stock Up 1.7%

The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37. The business’s fifty day moving average price is $51.71 and its 200 day moving average price is $49.04. The company has a market capitalization of $33.84 billion, a P/E ratio of 140.53, a P/E/G ratio of 0.64 and a beta of 0.59.

EQT (NYSE:EQT) last posted its 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. The business had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.16 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. As a group, equities research analysts predict that EQT Co. will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th will be issued a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Wednesday, May 7th. EQT’s dividend payout ratio is currently 110.53%.

Hedge Funds Weigh In On EQT

A number of institutional investors have recently modified their holdings of EQT. Vanguard Group Inc. raised its position in shares of EQT by 2.1% during the first quarter. Vanguard Group Inc. now owns 74,039,340 shares of the oil and gas producer’s stock worth $3,955,922,000 after acquiring an additional 1,509,054 shares during the last quarter. Geode Capital Management LLC raised its holdings in EQT by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 14,427,307 shares of the oil and gas producer’s stock worth $663,552,000 after purchasing an additional 429,733 shares during the last quarter. Capital International Investors lifted its position in EQT by 21.3% during 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 purchasing an additional 2,433,632 shares during the period. Clearbridge Investments LLC boosted its stake in shares of EQT by 14.7% in the 4th quarter. Clearbridge Investments LLC now owns 13,829,938 shares of the oil and gas producer’s stock valued at $637,698,000 after purchasing an additional 1,774,696 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of EQT by 46.3% during the 4th quarter. Invesco Ltd. now owns 13,143,774 shares of the oil and gas producer’s stock worth $606,059,000 after buying an additional 4,162,065 shares during the period. 90.81% of the stock is 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.