EQT (NYSE:EQT) Receives Overweight Rating from Piper Sandler

Piper Sandler reissued their overweight rating on shares of EQT (NYSE:EQT) in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a $46.00 price target on the oil and gas producer’s stock, up from their prior price target of $41.00.

Several other equities research analysts have also issued reports on EQT. The Goldman Sachs Group decreased their price target on shares of EQT from $48.00 to $43.00 and set a buy rating on the stock in a report on Tuesday, April 2nd. Royal Bank of Canada reaffirmed an outperform rating and set a $46.00 price target on shares of EQT in a report on Tuesday, March 5th. Scotiabank raised shares of EQT from a sector perform rating to a sector outperform rating and lifted their price target for the company from $40.00 to $52.00 in a report on Thursday, April 11th. Morgan Stanley boosted their target price on shares of EQT from $37.00 to $49.00 and gave the stock an overweight rating in a report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. reissued a neutral rating and set a $37.00 target price (down from $39.00) on shares of EQT in a report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $44.56.

EQT Price Performance

Shares of NYSE:EQT opened at $40.09 on Tuesday. The firm has a 50 day moving average of $36.68 and a 200-day moving average of $37.87. The stock has a market capitalization of $17.70 billion, a PE ratio of 29.05 and a beta of 1.12. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32. EQT has a 12 month low of $30.84 and a 12 month high of $45.23.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.17. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.58 billion. EQT had a net margin of 10.96% and a return on equity of 4.57%. The firm’s revenue was down 28.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.70 EPS. On average, equities research analysts predict that EQT will post 1.01 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 8th will be given a dividend of $0.1575 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.57%. EQT’s payout ratio is presently 45.65%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. SeaBridge Investment Advisors LLC lifted its position in shares of EQT by 1.4% during the 1st quarter. SeaBridge Investment Advisors LLC now owns 30,361 shares of the oil and gas producer’s stock valued at $1,125,000 after acquiring an additional 428 shares during the period. Vantage Investment Partners LLC lifted its position in shares of EQT by 20.7% during the 1st quarter. Vantage Investment Partners LLC now owns 962,460 shares of the oil and gas producer’s stock valued at $35,653,000 after acquiring an additional 165,198 shares during the period. Mcintyre Freedman & Flynn Investment Advisers Inc. lifted its position in shares of EQT by 4.3% during the 1st quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 19,500 shares of the oil and gas producer’s stock valued at $723,000 after acquiring an additional 800 shares during the period. Norden Group LLC acquired a new position in shares of EQT during the 1st quarter valued at $401,000. Finally, Horizon Advisory Services Inc. acquired a new position in shares of EQT during the 1st quarter valued at $231,000. 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.