Brokerages Set EQT Corporation (NYSE:EQT) Target Price at $65.13

EQT Corporation (NYSE:EQT) has received an average recommendation of “Moderate Buy” from the twenty-five analysts that are presently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and nineteen have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $65.1304.

A number of research firms have weighed in on EQT. Jefferies Financial Group lowered their price objective on EQT from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Thursday, October 2nd. Barclays reduced their price target on EQT from $68.00 to $67.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. The Goldman Sachs Group boosted their price target on shares of EQT from $66.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. Mizuho upped their price objective on shares of EQT from $60.00 to $68.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Finally, Piper Sandler lifted their target price on shares of EQT from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 18th.

Insider Transactions at EQT

In other EQT news, EVP J.E.B. Bolen sold 1,422 shares of EQT stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $52.79, for a total value of $75,067.38. Following the sale, the executive vice president owned 69,486 shares in the company, valued at $3,668,165.94. The trade was a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.65% of the stock is currently owned by company insiders.

Institutional Trading of EQT

Several institutional investors and hedge funds have recently bought and sold shares of EQT. Westpac Banking Corp boosted its stake in EQT by 6.6% during the third quarter. Westpac Banking Corp now owns 2,671 shares of the oil and gas producer’s stock worth $145,000 after buying an additional 165 shares during the period. Private Trust Co. NA lifted its holdings in shares of EQT by 38.1% in the 2nd quarter. Private Trust Co. NA now owns 1,026 shares of the oil and gas producer’s stock worth $60,000 after acquiring an additional 283 shares during the last quarter. Rothschild Investment LLC boosted its position in shares of EQT by 1.0% during the 2nd quarter. Rothschild Investment LLC now owns 46,436 shares of the oil and gas producer’s stock worth $2,708,000 after purchasing an additional 463 shares during the period. Anchor Investment Management LLC boosted its position 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 worth $51,000 after purchasing an additional 500 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in EQT by 6.5% in the 2nd quarter. Farther Finance Advisors LLC now owns 9,076 shares of the oil and gas producer’s stock valued at $529,000 after purchasing an additional 554 shares during the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Stock Up 0.2%

Shares of NYSE EQT opened at $54.63 on Wednesday. The stock has a market cap of $34.09 billion, a PE ratio of 18.71, a P/E/G ratio of 0.44 and a beta of 0.62. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.29. EQT has a 12-month low of $43.57 and a 12-month high of $62.23. The company has a 50-day moving average of $56.54 and a 200 day moving average of $54.89.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, October 21st. The oil and gas producer reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.02. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.78 billion. EQT had a return on equity of 6.88% and a net margin of 22.59%.The business’s revenue for the quarter was up 52.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.12 EPS. As a group, sell-side analysts predict that EQT will post 3.27 EPS for the current fiscal year.

EQT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Wednesday, November 5th were issued a $0.165 dividend. This is a boost from EQT’s previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Wednesday, November 5th. EQT’s payout ratio is currently 22.60%.

EQT Company Profile

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.