EQT Corporation (NYSE:EQT) Receives $63.52 Average PT from Brokerages

Shares of EQT Corporation (NYSE:EQT) have received a consensus rating of “Moderate Buy” from the twenty-five research firms that are currently covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and eighteen have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $63.5217.

A number of equities analysts recently issued reports on EQT shares. Wells Fargo & Company decreased their target price on shares of EQT from $68.00 to $66.00 and set an “overweight” rating for the company in a research report on Thursday, October 23rd. William Blair started coverage on shares of EQT in a research report on Tuesday, October 14th. They set an “outperform” rating on the stock. UBS Group increased their price objective on shares of EQT from $65.00 to $67.00 and gave the company a “buy” rating in a report on Friday, October 17th. Royal Bank Of Canada raised their price objective on shares of EQT from $60.00 to $62.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 7th. Finally, Mizuho cut their target price on EQT from $66.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, September 15th.

EQT Trading Up 0.7%

Shares of NYSE:EQT opened at $56.37 on Tuesday. The company has a market cap of $35.18 billion, a PE ratio of 19.30, a P/E/G ratio of 0.44 and a beta of 0.55. The company’s 50-day moving average price is $53.23 and its 200 day moving average price is $53.98. EQT has a fifty-two week low of $39.46 and a fifty-two week high of $61.02. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.29.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, October 21st. The oil and gas producer reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates 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 prior year, the company posted $0.12 EPS. Sell-side analysts anticipate that EQT will post 3.27 earnings per share for the current year.

EQT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 5th will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 1.2%. This is a positive change from EQT’s previous quarterly dividend of $0.16. The ex-dividend date is Wednesday, November 5th. EQT’s payout ratio is currently 22.60%.

Insiders Place Their Bets

In related news, EVP J.E.B. Bolen sold 1,422 shares of EQT stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $52.79, for a total transaction of $75,067.38. Following the transaction, the executive vice president directly owned 69,486 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.65% of the stock is owned by corporate insiders.

Institutional Trading of EQT

Several institutional investors and hedge funds have recently bought and sold shares of the stock. First Horizon Advisors Inc. raised its holdings in shares of EQT by 33.9% during the first quarter. First Horizon Advisors Inc. now owns 1,605 shares of the oil and gas producer’s stock valued at $86,000 after acquiring an additional 406 shares during the period. Teacher Retirement System of Texas grew its position in EQT by 1,466.8% during the 1st quarter. Teacher Retirement System of Texas now owns 82,853 shares of the oil and gas producer’s stock worth $4,427,000 after purchasing an additional 77,565 shares in the last quarter. Principal Financial Group Inc. grew its position in EQT by 6.8% during the 1st quarter. Principal Financial Group Inc. now owns 757,544 shares of the oil and gas producer’s stock worth $40,476,000 after purchasing an additional 48,027 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new stake in EQT during the 1st quarter valued at $326,000. Finally, IFM Investors Pty Ltd lifted its holdings in shares of EQT by 11.0% in the first quarter. IFM Investors Pty Ltd now owns 96,862 shares of the oil and gas producer’s stock valued at $5,175,000 after purchasing an additional 9,562 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Company Profile

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.