Wells Fargo & Co Lowers EQT (NYSE:EQT) Price Target to $27.00

EQT (NYSE:EQT) had its price target reduced by Wells Fargo & Co from $29.00 to $27.00 in a research note published on Friday, BenzingaRatingsTable reports. They currently have an outperform rating on the oil and gas producer’s stock.

A number of other analysts also recently issued reports on EQT. TD Securities dropped their price objective on shares of EQT from $17.50 to $16.00 and set a hold rating for the company in a report on Friday, July 26th. Morgan Stanley decreased their target price on shares of EQT from $5.00 to $4.50 and set an underweight rating on the stock in a research report on Friday, July 26th. Finally, Macquarie started coverage on shares of EQT in a research report on Wednesday, May 29th. They issued a neutral rating and a $21.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $30.70.

NYSE EQT opened at $11.49 on Friday. EQT has a 52-week low of $9.71 and a 52-week high of $26.77. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $2.93 billion, a P/E ratio of 6.76, a P/E/G ratio of 1.47 and a beta of 0.64. The company has a fifty day moving average of $11.53 and a 200-day moving average of $16.65.

EQT (NYSE:EQT) last posted its quarterly earnings data on Thursday, July 25th. The oil and gas producer reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.13. EQT had a negative net margin of 7.41% and a positive return on equity of 4.25%. The company had revenue of $958.40 million during the quarter, compared to the consensus estimate of $929.86 million. During the same period in the previous year, the firm posted $0.44 EPS. The firm’s revenue was down 5.8% compared to the same quarter last year. As a group, analysts forecast that EQT will post 0.78 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date was Thursday, August 8th. EQT’s payout ratio is presently 7.06%.

A number of large investors have recently modified their holdings of EQT. Sumitomo Mitsui Trust Holdings Inc. raised its position in EQT by 1,420.2% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 202,131 shares of the oil and gas producer’s stock worth $4,192,000 after purchasing an additional 188,835 shares during the period. US Bancorp DE raised its position in EQT by 24.0% in the 1st quarter. US Bancorp DE now owns 21,598 shares of the oil and gas producer’s stock worth $448,000 after purchasing an additional 4,178 shares during the period. Shell Asset Management Co. purchased a new position in shares of EQT in the first quarter valued at about $605,000. Wesbanco Bank Inc. increased its position in shares of EQT by 17.8% in the first quarter. Wesbanco Bank Inc. now owns 90,119 shares of the oil and gas producer’s stock valued at $1,869,000 after acquiring an additional 13,623 shares during the period. Finally, Alambic Investment Management L.P. purchased a new position in shares of EQT in the first quarter valued at about $499,000. Institutional investors own 97.01% of the company’s stock.

EQT Company Profile

EQT Corporation operates as a natural gas production company in the United States. It produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2018, this segment had 21.8 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 1.4 million gross acres.

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Analyst Recommendations for EQT (NYSE:EQT)

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