EQT (NYSE:EQT) PT Raised to $74.00

EQT (NYSE:EQTGet Rating) had its target price boosted by Bank of America from $72.00 to $74.00 in a report issued on Monday, MarketBeat reports. They currently have a buy rating on the oil and gas producer’s stock.

Several other brokerages also recently issued reports on EQT. Royal Bank of Canada increased their price objective on EQT from $55.00 to $57.00 and gave the stock an outperform rating in a research note on Friday, September 9th. Morgan Stanley reduced their price objective on EQT from $50.00 to $48.00 and set an overweight rating for the company in a research note on Tuesday, July 19th. Wells Fargo & Company increased their price objective on EQT from $51.00 to $62.00 and gave the stock an overweight rating in a research note on Monday, July 11th. The Goldman Sachs Group increased their price objective on EQT from $47.00 to $53.00 and gave the stock a buy rating in a research note on Monday, August 22nd. Finally, Piper Sandler upped their target price on EQT from $58.00 to $59.00 and gave the stock an overweight rating in a research report on Friday, July 22nd. One analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $56.63.

EQT Trading Down 1.7 %

EQT stock opened at $44.63 on Monday. The firm’s 50 day moving average price is $45.46 and its two-hundred day moving average price is $40.63. EQT has a 1 year low of $17.95 and a 1 year high of $51.97. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.57 and a current ratio of 0.57. The firm has a market cap of $16.49 billion, a price-to-earnings ratio of -16.41, a price-to-earnings-growth ratio of 0.20 and a beta of 1.15.

EQT (NYSE:EQTGet Rating) last released its earnings results on Wednesday, July 27th. The oil and gas producer reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.02. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the company earned $0.07 EPS. EQT’s revenue for the quarter was up 61.7% on a year-over-year basis. On average, research analysts predict that EQT will post 4.08 EPS for the current fiscal year.

EQT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Tuesday, August 9th were issued a dividend of $0.15 per share. This is a positive change from EQT’s previous quarterly dividend of $0.13. The ex-dividend date was Monday, August 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.34%. EQT’s dividend payout ratio is currently -22.06%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in EQT. Counterpoint Mutual Funds LLC acquired a new stake in EQT in the 1st quarter valued at approximately $25,000. Steward Partners Investment Advisory LLC acquired a new stake in EQT in the 1st quarter valued at approximately $31,000. Kathleen S. Wright Associates Inc. acquired a new stake in EQT in the 2nd quarter valued at approximately $32,000. Exchange Traded Concepts LLC acquired a new stake in EQT in the 1st quarter valued at approximately $41,000. Finally, First Command Bank acquired a new stake in EQT in the 2nd quarter valued at approximately $46,000. Institutional investors and hedge funds own 95.63% of the company’s stock.

EQT Company Profile

(Get Rating)

EQT Corporation operates as a natural gas production company in the United States. The company produces natural gas, natural gas liquids (NGLs), including ethane, propane, isobutane, butane, and natural gasoline. As of December 31, 2021, it had 25.0 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 2.0 million gross acres, including 1.7 million gross acres in the Marcellus play.

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