EQT (NYSE:EQT) Price Target Raised to $58.00 at Wells Fargo & Company

EQT (NYSE:EQT) had its price objective boosted by Wells Fargo & Company from $53.00 to $58.00 in a research note released on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the oil and gas producer’s stock.

Other research analysts have also recently issued research reports about the stock. The Goldman Sachs Group restated a “reduce” rating on shares of EQT in a research note on Wednesday, February 12th. Mizuho raised EQT from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $48.00 to $57.00 in a research note on Monday, December 16th. Morgan Stanley lifted their target price on EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Scotiabank downgraded EQT from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $55.00 to $54.00 in a research note on Friday, January 17th. Finally, Stephens upgraded shares of EQT from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $41.00 to $59.00 in a research report on Tuesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.50.

EQT Price Performance

NYSE EQT opened at $52.89 on Wednesday. The business’s fifty day moving average is $51.25 and its 200 day moving average is $44.12. EQT has a fifty-two week low of $30.02 and a fifty-two week high of $56.66. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70. The company has a market capitalization of $31.60 billion, a PE ratio of 132.23, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.19. EQT had a return on equity of 4.35% and a net margin of 4.37%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.81 billion. Sell-side analysts predict that EQT will post 3.27 earnings per share for the current year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend was Tuesday, February 18th. EQT’s payout ratio is 157.50%.

Institutional Trading of EQT

Several hedge funds and other institutional investors have recently bought and sold shares of EQT. Truvestments Capital LLC purchased a new position in EQT during the third quarter worth $30,000. Quarry LP boosted its stake in shares of EQT by 184.7% during the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 578 shares during the period. University of Texas Texas AM Investment Management Co. grew its holdings in EQT by 47.7% during the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer’s stock valued at $44,000 after purchasing an additional 310 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in EQT by 26.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock valued at $45,000 after purchasing an additional 205 shares during the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new stake in EQT in the 3rd quarter worth about $36,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

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.