EQT Corporation (NYSE:EQT) Stock Has Consensus Target Price of $68.00 According to Analysts

Key Points

• Analysts give EQT a “Moderate Buy” consensus, with 22 of 28 firms rating it Buy or Strong Buy and an average one-year price target of $68.
• EQT reported quarterly EPS of $0.42, beating the $0.37 estimate, and revenue of $1.77 billion, slightly above expectations; revenue was down 9.6% year over year.
• The company raised its quarterly dividend to $0.17 per share, equivalent to $0.68 annually and a 1.3% yield.

Shares of EQT Corporation (NYSE:EQT - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the twenty-eight ratings firms that are covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation, twenty have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $68.00.

EQT has been the topic of several recent research reports. Mizuho lowered their price objective on EQT from $72.00 to $68.00 and set an "outperform" rating on the stock in a research report on Thursday, October 15th. Sanford C. Bernstein restated an "outperform" rating on shares of EQT in a research note on Thursday, July 30th. Truist Financial lifted their price objective on shares of EQT from $65.00 to $70.00 and gave the stock a "buy" rating in a research note on Monday, November 2nd. Freedom Broker reduced their price objective on shares of EQT from $81.00 to $77.00 and set a "buy" rating on the stock in a research note on Wednesday, October 28th. Finally, Scotiabank lowered their price objective on shares of EQT from $54.00 to $53.00 and set a "sector perform" rating for the company in a research report on Tuesday, October 27th.

EQT Stock Performance

EQT stock traded up $0.43 during midday trading on Friday, reaching $52.79. 5,914,825 shares of the company were exchanged, compared to its average volume of 9,960,463. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.71 and a quick ratio of 0.71. The business has a 50-day moving average price of $52.69 and a two-hundred day moving average price of $55.45. EQT has a one year low of $47.94 and a one year high of $68.24. The firm has a market capitalization of $33.02 billion, a price-to-earnings ratio of 12.51 and a beta of 0.68.

EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings data on Tuesday, October 27th. The oil and gas producer reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.05. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.76 billion. EQT had a net margin of 28.40% and a return on equity of 8.89%. The business's revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period last year, the business posted $0.52 earnings per share. Equities research analysts forecast that EQT will post 3.86 EPS for the current year.

EQT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Wednesday, November 4th will be given a $0.17 dividend. This is a boost from EQT's previous quarterly dividend of $0.1650. This represents a $0.68 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, November 4th. EQT's dividend payout ratio is 16.11%.

Institutional Trading of EQT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. increased its position in EQT by 28.1% in the 3rd quarter. SBI Securities Co. Ltd. now owns 975 shares of the oil and gas producer's stock worth $47,000 after purchasing an additional 214 shares during the last quarter. RFG Advisory LLC raised its stake in shares of EQT by 3.2% during the 2nd quarter. RFG Advisory LLC now owns 7,033 shares of the oil and gas producer's stock worth $374,000 after purchasing an additional 216 shares in the last quarter. Anchor Investment Management LLC raised its stake in shares of EQT by 76.0% during the 2nd quarter. Anchor Investment Management LLC now owns 528 shares of the oil and gas producer's stock worth $28,000 after purchasing an additional 228 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of EQT by 4.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,154 shares of the oil and gas producer's stock valued at $392,000 after buying an additional 236 shares during the last quarter. Finally, Cidel Asset Management Inc. lifted its holdings in shares of EQT by 6.6% during the 2nd quarter. Cidel Asset Management Inc. now owns 4,014 shares of the oil and gas producer's stock valued at $213,000 after buying an additional 249 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company's stock.

About EQT

EQT Corporation is a natural gas company focused on the exploration, development and production of natural gas in the Appalachian Basin. Its operations are concentrated in Pennsylvania, West Virginia and Ohio, including the Marcellus and Utica shale formations. The company also operates midstream infrastructure that gathers and transports natural gas from production areas to pipelines and markets. This includes gathering systems and transmission assets serving the Appalachian region. Headquartered in Pittsburgh, EQT traces its roots to the late 19th century and was formerly known as Equitable Resources.

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