EQT (NYSE:EQT) Price Target Raised to $60.00 at Citigroup

EQT (NYSE:EQT) had its price objective lifted by Citigroup from $51.00 to $60.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the oil and gas producer’s stock.

Several other analysts have also issued reports on EQT. Scotiabank lowered shares of EQT from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $55.00 to $54.00 in a research report on Friday, January 17th. UBS Group boosted their price objective on shares of EQT from $54.00 to $58.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Wells Fargo & Company boosted their price objective on shares of EQT from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. JPMorgan Chase & Co. boosted their price objective on shares of EQT from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, March 13th. Finally, Piper Sandler boosted their price objective on shares of EQT from $35.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $53.06.

EQT Stock Performance

NYSE EQT opened at $51.57 on Monday. The company’s 50 day moving average is $50.90 and its 200-day moving average is $43.72. EQT has a 12-month low of $30.02 and a 12-month high of $56.66. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. The firm has a market cap of $30.81 billion, a P/E ratio of 128.93, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.19. EQT had a net margin of 4.37% and a return on equity of 4.35%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates 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 declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were paid a $0.1575 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a yield of 1.22%. EQT’s dividend payout ratio is presently 157.50%.

Hedge Funds Weigh In On EQT

A number of hedge funds and other institutional investors have recently bought and sold shares of EQT. Wellington Management Group LLP lifted its holdings in shares of EQT by 38.7% in the 3rd quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock worth $2,716,968,000 after acquiring an additional 20,700,921 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of EQT by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 72,530,286 shares of the oil and gas producer’s stock worth $3,344,371,000 after acquiring an additional 358,649 shares during the last quarter. State Street Corp lifted its holdings in shares of EQT by 24.5% in the 3rd quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock worth $1,359,183,000 after acquiring an additional 7,290,822 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of EQT by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 14,427,307 shares of the oil and gas producer’s stock worth $663,552,000 after acquiring an additional 429,733 shares during the last quarter. Finally, Capital International Investors lifted its holdings in shares of EQT by 21.3% in the 4th quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer’s stock worth $638,867,000 after acquiring an additional 2,433,632 shares during the last quarter. Hedge funds and other institutional investors 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.