Piper Sandler Issues Positive Forecast for EQT (NYSE:EQT) Stock Price

EQT (NYSE:EQT) had its price objective lifted by Piper Sandler from $35.00 to $48.00 in a report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock.

Other analysts have also issued research reports about the stock. Sanford C. Bernstein raised shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price target on the stock in a research report on Wednesday, January 15th. JPMorgan Chase & Co. boosted 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. Stephens lowered their price target on shares of EQT from $59.00 to $57.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. UBS Group raised shares of EQT from a “neutral” rating to a “buy” rating and boosted their price target for the company from $54.00 to $64.00 in a research report on Monday, May 5th. Finally, Wells Fargo & Company boosted their price target on shares of EQT from $53.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, March 19th. 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $56.67.

EQT Stock Performance

Shares of EQT stock opened at $56.18 on Tuesday. The firm has a market cap of $33.63 billion, a price-to-earnings ratio of 140.45, a P/E/G ratio of 0.64 and a beta of 0.59. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70. EQT has a 52 week low of $30.02 and a 52 week high of $56.82. The firm’s 50-day simple moving average is $51.10 and its two-hundred day simple moving average is $48.43.

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, 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 analysts forecast that EQT will post 3.27 earnings per share for the current year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th will be paid a $0.1575 dividend. The ex-dividend date of this dividend is Wednesday, May 7th. This represents a $0.63 dividend on an annualized basis and a yield of 1.12%. EQT’s dividend payout ratio is presently 110.53%.

Institutional Investors Weigh In On EQT

A number of hedge funds have recently made changes to their positions in EQT. Zions Bancorporation National Association UT bought a new stake in shares of EQT in the 1st quarter worth approximately $35,000. Harbour Investments Inc. raised its holdings in EQT by 48.4% during the 1st quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer’s stock valued at $37,000 after buying an additional 226 shares during the last quarter. University of Texas Texas AM Investment Management Co. raised its holdings in EQT by 47.7% during the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer’s stock valued at $44,000 after buying an additional 310 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in EQT by 26.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock valued at $45,000 after buying an additional 205 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in EQT by 22.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock worth $48,000 after purchasing an additional 193 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors.

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.