EQT (NYSE:EQT) Price Target Raised to $78.00 at Stephens

EQT (NYSE:EQT) had its price target raised by Stephens from $71.00 to $78.00 in a report issued on Tuesday,MarketScreener reports. They currently have an overweight rating on the oil and gas producer’s stock.

Several other equities research analysts also recently issued reports on the stock. Sanford C. Bernstein increased their price objective on shares of EQT from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Monday, January 5th. Wolfe Research upped their target price on shares of EQT from $61.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Capital One Financial increased their target price on EQT from $55.00 to $58.00 and gave the stock an “overweight” rating in a report on Tuesday, February 24th. Mizuho boosted their price target on EQT from $60.00 to $68.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Finally, Piper Sandler upped their price objective on EQT from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, EQT has a consensus rating of “Moderate Buy” and a consensus price target of $68.00.

EQT Stock Down 3.0%

Shares of NYSE EQT traded down $1.93 during mid-day trading on Tuesday, reaching $61.71. 3,834,700 shares of the company’s stock were exchanged, compared to its average volume of 10,203,575. EQT has a twelve month low of $43.57 and a twelve month high of $68.24. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $38.56 billion, a price-to-earnings ratio of 18.66, a PEG ratio of 1.23 and a beta of 0.72. The business has a fifty day simple moving average of $60.17 and a 200 day simple moving average of $56.79.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, February 17th. The oil and gas producer reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.14. The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.13 billion. EQT had a return on equity of 7.25% and a net margin of 23.59%.EQT’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.69 EPS. As a group, equities analysts expect that EQT will post 3.27 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 17th were given a $0.165 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.1%. EQT’s payout ratio is currently 19.94%.

Insider Activity at EQT

In related news, EVP Sarah Fenton sold 4,876 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $64.49, for a total transaction of $314,453.24. Following the completion of the transaction, the executive vice president directly owned 52,953 shares of the company’s stock, valued at approximately $3,414,938.97. This represents a 8.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Todd James sold 32,514 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $61.12, for a total value of $1,987,255.68. Following the transaction, the chief accounting officer directly owned 58,796 shares in the company, valued at $3,593,611.52. This trade represents a 35.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 61,158 shares of company stock valued at $3,742,983. Insiders own 0.72% of the company’s stock.

Institutional Trading of EQT

Several institutional investors and hedge funds have recently bought and sold shares of EQT. Greykasell Wealth Strategies Inc. bought a new position in shares of EQT during the 4th quarter worth approximately $26,000. Aventura Private Wealth LLC bought a new position in EQT during the fourth quarter worth $31,000. Fortitude Family Office LLC increased its holdings in shares of EQT by 95.6% in the fourth quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 280 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in shares of EQT in the second quarter valued at $41,000. Finally, Elyxium Wealth LLC bought a new position in shares of EQT in the fourth quarter valued at about $49,000. Institutional investors own 90.81% of the company’s stock.

About EQT

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.