Brokerages Set EQT Co. (NYSE:EQT) Target Price at $42.83

Shares of EQT Co. (NYSE:EQT) have been assigned an average recommendation of “Moderate Buy” from the eighteen brokerages that are covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $42.83.

A number of analysts have weighed in on the company. Morgan Stanley restated an “overweight” rating and issued a $45.00 price target on shares of EQT in a research note on Friday, September 13th. Wells Fargo & Company upgraded EQT from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $40.00 to $42.00 in a research note on Wednesday, August 14th. Mizuho raised their price objective on EQT from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. UBS Group raised their price objective on EQT from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Finally, Piper Sandler raised their price objective on EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, November 4th.

Hedge Funds Weigh In On EQT

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bard Financial Services Inc. acquired a new position in EQT during the 3rd quarter worth approximately $878,000. TD Private Client Wealth LLC increased its position in EQT by 69.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 3,836 shares of the oil and gas producer’s stock worth $141,000 after purchasing an additional 1,566 shares during the period. Teachers Retirement System of The State of Kentucky increased its position in EQT by 136.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 79,525 shares of the oil and gas producer’s stock worth $2,914,000 after purchasing an additional 45,898 shares during the period. Toronto Dominion Bank increased its position in EQT by 154.0% during the 3rd quarter. Toronto Dominion Bank now owns 316,518 shares of the oil and gas producer’s stock worth $11,597,000 after purchasing an additional 191,892 shares during the period. Finally, Financial Avengers Inc. increased its position in EQT by 100.8% during the 3rd quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 504 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Stock Down 2.1 %

EQT stock opened at $45.92 on Tuesday. EQT has a 1-year low of $30.02 and a 1-year high of $48.02. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. The stock has a market cap of $27.40 billion, a PE ratio of 54.67 and a beta of 1.06. The stock’s fifty day moving average is $38.20 and its two-hundred day moving average is $36.98.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same period last year, the firm earned $0.30 earnings per share. EQT’s quarterly revenue was up 8.2% on a year-over-year basis. On average, sell-side analysts expect that EQT will post 1.35 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 6th will be given a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Wednesday, November 6th. EQT’s dividend payout ratio (DPR) is presently 75.00%.

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.