EQT (NYSE:EQT) Price Target Raised to $42.00

EQT (NYSE:EQT) had its price objective upped by UBS Group from $40.00 to $42.00 in a research note released on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the oil and gas producer’s stock.

A number of other analysts also recently commented on the stock. StockNews.com raised shares of EQT to a “sell” rating in a report on Friday, July 26th. Wolfe Research assumed coverage on shares of EQT in a research report on Thursday, July 18th. They set an “outperform” rating and a $51.00 price target on the stock. Scotiabank boosted their price objective on shares of EQT from $54.00 to $55.00 and gave the stock a “sector outperform” rating in a report on Friday, July 12th. Bank of America assumed coverage on EQT in a research note on Monday, October 28th. They issued a “buy” rating and a $50.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price objective on EQT from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, EQT presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.61.

EQT Stock Up 1.1 %

Shares of EQT traded up $0.39 during mid-day trading on Monday, hitting $37.19. 135,434 shares of the company’s stock were exchanged, compared to its average volume of 7,005,260. The company has a market cap of $16.42 billion, a price-to-earnings ratio of 43.81 and a beta of 1.06. The stock’s 50-day moving average is $35.31 and its 200-day moving average is $36.61. EQT has a fifty-two week low of $30.02 and a fifty-two week high of $44.47. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the previous year, the business earned $0.30 earnings per share. The firm’s revenue was up 8.2% compared to the same quarter last year. On average, sell-side analysts anticipate that EQT will post 1.42 earnings per share for the current fiscal year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th will be given a $0.1575 dividend. The ex-dividend date is Wednesday, November 6th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.69%. EQT’s dividend payout ratio (DPR) is currently 75.00%.

Hedge Funds Weigh In On EQT

Several institutional investors have recently made changes to their positions in EQT. Verus Capital Partners LLC purchased a new position in EQT in the third quarter valued at about $281,000. Sumitomo Mitsui Trust Group Inc. raised its position in EQT by 30.1% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,220,556 shares of the oil and gas producer’s stock valued at $44,721,000 after purchasing an additional 282,423 shares in the last quarter. Vantage Investment Partners LLC boosted its stake in EQT by 17.7% in the third quarter. Vantage Investment Partners LLC now owns 1,104,155 shares of the oil and gas producer’s stock worth $40,456,000 after buying an additional 166,006 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in shares of EQT by 870.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,892 shares of the oil and gas producer’s stock valued at $69,000 after purchasing an additional 1,697 shares during the last quarter. Finally, Chartwell Investment Partners LLC grew its stake in shares of EQT by 11.4% during the third quarter. Chartwell Investment Partners LLC now owns 78,000 shares of the oil and gas producer’s stock valued at $2,858,000 after buying an additional 8,000 shares during 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.