EQT (NYSE:EQT) Given New $34.00 Price Target at Piper Sandler

EQT (NYSE:EQT) had its price target boosted by Piper Sandler from $32.00 to $34.00 in a research note published on Monday, Benzinga reports. The firm currently has a neutral rating on the oil and gas producer’s stock.

Several other research firms have also issued reports on EQT. Bank of America started coverage on EQT in a report on Monday, October 28th. They set a “buy” rating and a $50.00 price target for the company. UBS Group boosted their price target on EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Monday. StockNews.com raised EQT to a “sell” rating in a report on Friday, July 26th. Stephens boosted their price target on EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets boosted their price target on EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, EQT presently has a consensus rating of “Moderate Buy” and an average target price of $42.83.

EQT Stock Up 7.5 %

EQT stock opened at $40.20 on Monday. The stock has a market cap of $17.75 billion, a PE ratio of 47.86 and a beta of 1.06. 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 has a one year low of $30.02 and a one year high of $42.44. The stock has a fifty day moving average of $35.56 and a 200 day moving average of $36.64.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. EQT’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 earnings per share. As a group, sell-side analysts predict that EQT will post 1.42 EPS for the current year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 6th will be paid a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Wednesday, November 6th. EQT’s payout ratio is presently 75.00%.

Hedge Funds Weigh In On EQT

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Natixis Advisors LLC boosted its stake in EQT by 10.7% during the third quarter. Natixis Advisors LLC now owns 177,904 shares of the oil and gas producer’s stock valued at $6,518,000 after buying an additional 17,233 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund boosted its stake in EQT by 23.5% during the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 17,588 shares of the oil and gas producer’s stock valued at $644,000 after buying an additional 3,345 shares during the last quarter. Kentucky Retirement Systems boosted its stake in EQT by 24.4% during the third quarter. Kentucky Retirement Systems now owns 41,383 shares of the oil and gas producer’s stock valued at $1,516,000 after buying an additional 8,106 shares during the last quarter. Empowered Funds LLC boosted its stake in EQT by 29.0% during the third quarter. Empowered Funds LLC now owns 196,443 shares of the oil and gas producer’s stock valued at $7,198,000 after buying an additional 44,130 shares during the last quarter. Finally, Empirical Finance LLC boosted its stake in EQT by 4.4% during the third quarter. Empirical Finance LLC now owns 19,440 shares of the oil and gas producer’s stock valued at $712,000 after buying an additional 821 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

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.