EQT (NYSE:EQT) Hits New 52-Week High – Time to Buy?

EQT Co. (NYSE:EQT)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $57.00 and last traded at $54.98, with a volume of 47433 shares changing hands. The stock had previously closed at $55.62.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Mizuho lifted their price target on EQT from $57.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, April 1st. Stephens cut 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. Citigroup upped their target price on shares of EQT from $51.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, March 17th. TD Cowen raised EQT from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of EQT from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, March 13th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, EQT has a consensus rating of “Moderate Buy” and an average price target of $55.94.

EQT Stock Down 2.1%

The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70. The firm has a market capitalization of $32.60 billion, a PE ratio of 136.35, a P/E/G ratio of 0.64 and a beta of 0.59. The business’s 50 day moving average price is $50.81 and its 200-day moving average price is $48.26.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, April 22nd. The oil and gas producer reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.20. EQT had a net margin of 4.37% and a return on equity of 4.35%. The company had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.16 billion. As a group, equities research analysts forecast that EQT Co. will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, May 7th will be given a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Wednesday, May 7th. EQT’s dividend payout ratio (DPR) is presently 110.53%.

Institutional Investors Weigh In On EQT

Institutional investors have recently modified their holdings of the company. Frank Rimerman Advisors LLC raised its holdings in shares of EQT by 8.2% in the first quarter. Frank Rimerman Advisors LLC now owns 6,971 shares of the oil and gas producer’s stock worth $372,000 after acquiring an additional 530 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in EQT by 196.8% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 403,082 shares of the oil and gas producer’s stock valued at $21,537,000 after purchasing an additional 267,256 shares during the last quarter. Donoghue Forlines LLC purchased a new position in EQT in the 1st quarter valued at about $2,458,000. Zions Bancorporation National Association UT acquired a new stake in shares of EQT during the 1st quarter worth about $35,000. Finally, Townsquare Capital LLC grew its holdings in shares of EQT by 21.2% during the first quarter. Townsquare Capital LLC now owns 23,934 shares of the oil and gas producer’s stock worth $1,279,000 after buying an additional 4,180 shares in the last quarter. Hedge funds and other 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.