EQT (NYSE:EQT) Price Target Raised to $63.00

EQT (NYSE:EQT) had its price target boosted by Citigroup from $60.00 to $63.00 in a research report report published on Tuesday,MarketScreener reports. They currently have a buy rating on the oil and gas producer’s stock.

Other equities research analysts also recently issued reports about the stock. Royal Bank Of Canada upped their price objective on shares of EQT from $55.00 to $60.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 8th. Wells Fargo & Company upped their price objective on shares of EQT from $59.00 to $63.00 and gave the stock an “overweight” rating in a research report on Monday, June 16th. UBS Group upped their price objective on shares of EQT from $64.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Melius began coverage on shares of EQT in a research report on Wednesday, August 20th. They issued a “buy” rating and a $64.00 price objective for the company. Finally, Piper Sandler upped their price objective on shares of EQT from $48.00 to $49.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Fifteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, EQT currently has an average rating of “Moderate Buy” and an average price target of $62.95.

EQT Trading Up 1.7%

NYSE:EQT opened at $53.97 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a 50-day moving average of $51.87 and a 200-day moving average of $53.21. The company has a market cap of $33.68 billion, a PE ratio of 29.18, a PEG ratio of 0.43 and a beta of 0.58. EQT has a one year low of $35.00 and a one year high of $61.02.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.07). The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.78 billion. EQT had a return on equity of 6.24% and a net margin of 15.87%.During the same period in the previous year, the firm earned ($0.08) earnings per share. As a group, equities research analysts expect that EQT will post 3.27 EPS for the current fiscal year.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 6th were given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, August 6th. EQT’s dividend payout ratio is currently 34.05%.

Insider Buying and Selling

In other news, EVP Sarah Fenton sold 12,438 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $51.94, for a total transaction of $646,029.72. Following the completion of the transaction, the executive vice president directly owned 13,297 shares of the company’s stock, valued at $690,646.18. This represents a 48.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vicky A. Bailey sold 4,259 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $51.56, for a total transaction of $219,594.04. The disclosure for this sale can be found here. 0.65% of the stock is owned by corporate insiders.

Institutional Trading of EQT

A number of institutional investors have recently modified their holdings of the business. Anchor Investment Management LLC lifted its stake in shares of EQT by 133.3% during the 2nd quarter. Anchor Investment Management LLC now owns 875 shares of the oil and gas producer’s stock valued at $51,000 after buying an additional 500 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of EQT by 39.4% in the 2nd quarter. Captrust Financial Advisors now owns 30,617 shares of the oil and gas producer’s stock worth $1,786,000 after buying an additional 8,658 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of EQT by 495.2% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 128,060 shares of the oil and gas producer’s stock worth $7,468,000 after buying an additional 106,545 shares during the last quarter. Baird Financial Group Inc. increased its holdings in shares of EQT by 20.1% in the 2nd quarter. Baird Financial Group Inc. now owns 106,473 shares of the oil and gas producer’s stock worth $6,210,000 after buying an additional 17,839 shares during the last quarter. Finally, Crescent Grove Advisors LLC bought a new position in shares of EQT during the 2nd quarter valued at $273,000. 90.81% of the stock is currently owned by hedge funds and other 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.