EQT (NYSE:EQT) Hits New 52-Week High After Analyst Upgrade

Shares of EQT Corporation (NYSE:EQT) hit a new 52-week high on Tuesday after Barclays raised their price target on the stock from $67.00 to $69.00. Barclays currently has an overweight rating on the stock. EQT traded as high as $65.50 and last traded at $65.5930, with a volume of 551385 shares changing hands. The stock had previously closed at $64.31.

Other equities analysts also recently issued reports about the stock. Roth Mkm reaffirmed a “neutral” rating on shares of EQT in a research note on Wednesday, February 18th. TD Cowen lifted their price target on shares of EQT from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, February 20th. UBS Group decreased their price objective on EQT from $76.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. Piper Sandler raised their target price on EQT from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. Finally, Wells Fargo & Company lifted their target price on EQT from $66.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.18.

Insiders Place Their Bets

In related news, insider Lesley Evancho sold 20,000 shares of EQT stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $60.69, for a total value of $1,213,800.00. Following the completion of the transaction, the insider directly owned 184,607 shares in the company, valued at approximately $11,203,798.83. This trade represents a 9.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Sarah Fenton sold 3,768 shares of the business’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $60.37, for a total value of $227,474.16. Following the transaction, the executive vice president directly owned 52,806 shares of the company’s stock, valued at $3,187,898.22. The trade was a 6.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 56,282 shares of company stock worth $3,428,530 over the last 90 days. Corporate insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On EQT

A number of institutional investors and hedge funds have recently made changes to their positions in EQT. Reaves W H & Co. Inc. increased its stake in shares of EQT by 213.3% during the third quarter. Reaves W H & Co. Inc. now owns 1,029,234 shares of the oil and gas producer’s stock worth $56,021,000 after buying an additional 700,732 shares during the period. Sound Shore Management Inc CT lifted its stake in EQT by 31.8% in the third quarter. Sound Shore Management Inc CT now owns 1,526,821 shares of the oil and gas producer’s stock worth $83,105,000 after acquiring an additional 368,748 shares during the last quarter. SG Americas Securities LLC grew its holdings in EQT by 228.5% during the 4th quarter. SG Americas Securities LLC now owns 517,651 shares of the oil and gas producer’s stock worth $27,746,000 after acquiring an additional 360,049 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of EQT by 116.4% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 534,485 shares of the oil and gas producer’s stock valued at $29,092,000 after purchasing an additional 287,538 shares during the last quarter. Finally, KTF Investments LLC purchased a new stake in shares of EQT in the 4th quarter valued at approximately $8,885,000. 90.81% of the stock is owned by institutional investors and hedge funds.

EQT Trading Up 1.9%

The firm has a market capitalization of $40.95 billion, a PE ratio of 19.82, a PEG ratio of 0.42 and a beta of 0.72. The company’s 50-day moving average price is $57.15 and its 200-day moving average price is $55.72. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.76 and a current ratio of 0.76.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, February 17th. The oil and gas producer reported $0.90 EPS for the quarter, beating the consensus estimate of $0.76 by $0.14. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the company posted $0.69 earnings per share. On average, sell-side analysts expect that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Tuesday, February 17th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.66 dividend on an annualized basis and a yield of 1.0%. EQT’s dividend payout ratio (DPR) is presently 19.94%.

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.