Piper Sandler Trims EQT (NYSE:EQT) Target Price to $41.00

EQT (NYSE:EQT) had its price target cut by Piper Sandler from $47.00 to $41.00 in a report published on Friday, Benzinga reports. They currently have an overweight rating on the oil and gas producer’s stock.

A number of other equities analysts have also recently issued reports on EQT. Morgan Stanley upped their target price on EQT from $37.00 to $49.00 and gave the stock an overweight rating in a report on Wednesday, April 17th. Mizuho upped their target price on EQT from $39.00 to $40.00 and gave the stock a neutral rating in a report on Tuesday, April 16th. The Goldman Sachs Group lowered their target price on EQT from $48.00 to $43.00 and set a buy rating for the company in a report on Tuesday, April 2nd. Wells Fargo & Company cut EQT from an overweight rating to an equal weight rating and decreased their price target for the company from $48.00 to $37.00 in a research note on Wednesday, April 17th. Finally, Sanford C. Bernstein raised EQT from an underperform rating to a market perform rating and increased their price target for the company from $27.00 to $34.00 in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, EQT has an average rating of Hold and a consensus price target of $43.38.

EQT Price Performance

EQT stock opened at $37.99 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.99 and a current ratio of 0.99. EQT has a 52 week low of $30.84 and a 52 week high of $45.23. The stock has a market capitalization of $16.73 billion, a P/E ratio of 8.94 and a beta of 1.12. The stock has a fifty day moving average of $35.98 and a 200-day moving average of $38.02.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. EQT had a return on equity of 7.12% and a net margin of 25.12%. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the prior year, the firm earned $0.42 EPS. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. On average, sell-side analysts expect that EQT will post 1.07 earnings per share for the current fiscal year.

EQT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 8th will be issued a $0.1575 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.63 annualized dividend and a yield of 1.66%. EQT’s payout ratio is currently 14.82%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Private Wealth Management Group LLC purchased a new stake in shares of EQT in the fourth quarter worth approximately $30,000. BKM Wealth Management LLC purchased a new stake in shares of EQT in the fourth quarter worth approximately $40,000. Principal Securities Inc. purchased a new stake in shares of EQT in the fourth quarter worth approximately $51,000. Allworth Financial LP raised its stake in shares of EQT by 26.9% in the third quarter. Allworth Financial LP now owns 1,332 shares of the oil and gas producer’s stock worth $54,000 after purchasing an additional 282 shares during the last quarter. Finally, First Command Advisory Services Inc. purchased a new stake in shares of EQT in the third quarter worth approximately $54,000. Institutional investors own 90.81% of the company’s stock.

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.