EQT (NYSE:EQT) Rating Increased to Hold at Sanford C. Bernstein

Sanford C. Bernstein upgraded shares of EQT (NYSE:EQT) to a hold rating in a research report sent to investors on Thursday,Zacks.com reports.

A number of other brokerages have also recently weighed in on EQT. Morgan Stanley lifted their price target on shares of EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. JPMorgan Chase & Co. lifted their price target on shares of EQT from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. Mizuho lifted their price target on shares of EQT from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. UBS Group lifted their price objective on shares of EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, Piper Sandler lifted their price objective on shares of EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $46.11.

EQT Price Performance

Shares of EQT stock opened at $43.33 on Thursday. 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 firm’s 50-day moving average is $40.22 and its two-hundred day moving average is $37.29. EQT has a 12 month low of $30.02 and a 12 month high of $48.02. The company has a market capitalization of $25.85 billion, a PE ratio of 51.58 and a beta of 1.14.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the previous year, the firm earned $0.30 earnings per share. EQT’s quarterly revenue was up 8.2% compared to the same quarter last year. Analysts predict that EQT will post 1.36 earnings per share for the current year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th were given a dividend of $0.1575 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.63 annualized dividend and a dividend yield of 1.45%. EQT’s dividend payout ratio is presently 75.00%.

Insider Transactions at EQT

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the transaction, the director now directly owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. This trade represents a 13.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Retirement Systems of Alabama grew its position in EQT by 36.7% during the 3rd quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer’s stock worth $4,878,000 after purchasing an additional 35,733 shares during the last quarter. Franklin Resources Inc. grew its position in EQT by 121.1% during the 3rd quarter. Franklin Resources Inc. now owns 316,945 shares of the oil and gas producer’s stock worth $11,600,000 after purchasing an additional 173,596 shares during the last quarter. Synovus Financial Corp acquired a new stake in shares of EQT in the 3rd quarter worth $1,069,000. Tidal Investments LLC lifted its stake in shares of EQT by 55.8% in the 3rd quarter. Tidal Investments LLC now owns 60,816 shares of the oil and gas producer’s stock worth $2,228,000 after acquiring an additional 21,789 shares during the period. Finally, Blankinship & Foster LLC acquired a new stake in shares of EQT in the 3rd quarter worth $4,051,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

About EQT

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.