EQT (NYSE:EQT) Stock Rating Lowered by Piper Sandler

Piper Sandler downgraded shares of EQT (NYSE:EQT) from an overweight rating to a neutral rating in a research report released on Thursday, MarketBeat reports. They currently have $32.00 target price on the oil and gas producer’s stock, down from their previous target price of $43.00.

Other analysts also recently issued research reports about the stock. Mizuho raised their price target on shares of EQT from $43.00 to $45.00 and gave the stock a neutral rating in a research report on Monday, May 13th. TD Cowen assumed coverage on shares of EQT in a report on Friday, April 19th. They set a hold rating and a $43.00 price objective for the company. Morgan Stanley upped their target price on shares of EQT from $37.00 to $49.00 and gave the company an overweight rating in a research note on Wednesday, April 17th. Jefferies Financial Group increased their price target on shares of EQT from $43.00 to $48.00 and gave the stock a buy rating in a research report on Tuesday, June 4th. Finally, Stephens lowered their price objective on EQT from $47.00 to $46.00 and set an equal weight rating for the company in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $45.17.

EQT Stock Up 1.2 %

Shares of EQT stock opened at $32.15 on Thursday. EQT has a 1-year low of $30.02 and a 1-year high of $45.23. The company has a market capitalization of $14.20 billion, a PE ratio of 23.30 and a beta of 1.12. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.73 and a quick ratio of 0.73. The business has a 50-day moving average of $35.69 and a 200-day moving average of $36.85.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.12. EQT had a return on equity of 4.52% and a net margin of 12.45%. The firm had revenue of $952.51 million during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the business posted ($0.17) earnings per share. EQT’s revenue for the quarter was down 6.5% on a year-over-year basis. As a group, equities analysts forecast that EQT will post 1.4 EPS for the current fiscal year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be paid a dividend of $0.1575 per share. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.63 dividend on an annualized basis and a yield of 1.96%. EQT’s payout ratio is currently 45.65%.

Insiders Place Their Bets

In other news, EVP William E. Jordan sold 35,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $40.72, for a total transaction of $1,425,200.00. Following the completion of the transaction, the executive vice president now owns 456,837 shares of the company’s stock, valued at $18,602,402.64. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Lesley Evancho sold 46,884 shares of EQT stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $41.29, for a total transaction of $1,935,840.36. Following the sale, the insider now owns 160,884 shares of the company’s stock, valued at $6,642,900.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP William E. Jordan sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $40.72, for a total value of $1,425,200.00. Following the transaction, the executive vice president now owns 456,837 shares of the company’s stock, valued at $18,602,402.64. The disclosure for this sale can be found here. 0.63% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its holdings in shares of EQT by 22.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock valued at $2,405,007,000 after purchasing an additional 11,993,729 shares during the period. Vanguard Group Inc. increased its stake in EQT by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock valued at $1,885,590,000 after buying an additional 3,942,802 shares during the period. Bank of New York Mellon Corp raised its position in shares of EQT by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer’s stock worth $752,487,000 after buying an additional 464,781 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of EQT by 3.2% in the 4th quarter. Wellington Management Group LLP now owns 20,320,219 shares of the oil and gas producer’s stock worth $785,580,000 after acquiring an additional 632,625 shares during the period. Finally, Capital World Investors boosted its holdings in shares of EQT by 1.5% in the fourth quarter. Capital World Investors now owns 17,425,711 shares of the oil and gas producer’s stock valued at $673,678,000 after acquiring an additional 265,297 shares in the last quarter. Institutional investors and hedge funds 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.