EQT Corporation (NYSE:EQT) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts are broadly positive on EQT, with a consensus rating of “Moderate Buy” across 28 firms. The average 12-month price target is about $68.83, above the stock’s recent trading level.
• Q1 earnings beat expectations, as EQT reported $2.33 in EPS versus the $2.01 consensus estimate. Revenue matched forecasts at $3.14 billion, and the company’s net margin came in at 31.94%.
• EQT announced a quarterly dividend of $0.165 per share, payable June 1 to shareholders of record on May 6. That works out to a 1.1% annualized yield and a low payout ratio of 12.52%.

Shares of EQT Corporation (NYSE:EQT - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the twenty-eight ratings firms that are covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $68.8333.

Several research firms recently commented on EQT. Jefferies Financial Group reiterated a "buy" rating on shares of EQT in a research report on Sunday, April 26th. Zacks Research downgraded shares of EQT from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 22nd. TD Securities upgraded shares of EQT to a "strong-buy" rating in a research report on Friday, February 20th. TD Cowen lifted their target price on shares of EQT from $65.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, February 20th. Finally, Sanford C. Bernstein cut their target price on shares of EQT from $73.00 to $69.00 and set an "outperform" rating on the stock in a research report on Monday, April 13th.

EQT Trading Up 0.4%

Shares of EQT stock opened at $57.98 on Friday. The firm has a market capitalization of $36.26 billion, a PE ratio of 11.00 and a beta of 0.59. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.19. The firm's 50 day moving average is $60.14 and its 200 day moving average is $57.96. EQT has a 1 year low of $48.47 and a 1 year high of $68.24.

EQT (NYSE:EQT - Get Free Report) last posted its earnings results on Tuesday, April 21st. The oil and gas producer reported $2.33 EPS for the quarter, topping the consensus estimate of $2.01 by $0.32. EQT had a net margin of 31.94% and a return on equity of 9.74%. The business had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period last year, the company earned $1.18 EPS. Equities research analysts forecast that EQT will post 4.69 earnings per share for the current fiscal year.

EQT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Wednesday, May 6th will be given a dividend of $0.165 per share. The ex-dividend date is Wednesday, May 6th. This represents a $0.66 annualized dividend and a yield of 1.1%. EQT's dividend payout ratio (DPR) is currently 12.52%.

Insider Buying and Selling at EQT

In other news, EVP Sarah Fenton sold 4,876 shares of the business's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $64.49, for a total value of $314,453.24. Following the transaction, the executive vice president owned 52,953 shares in the company, valued at approximately $3,414,938.97. The trade was a 8.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lesley Evancho sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $60.69, for a total transaction of $1,213,800.00. Following the completion of the transaction, the insider owned 184,607 shares in the company, valued at $11,203,798.83. This trade represents a 9.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 61,506 shares of company stock valued at $3,761,646 in the last quarter. 0.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Sound Shore Management Inc CT lifted its position in shares of EQT by 31.8% in the 3rd quarter. Sound Shore Management Inc CT now owns 1,526,821 shares of the oil and gas producer's stock worth $83,105,000 after purchasing an additional 368,748 shares during the period. Reaves W H & Co. Inc. lifted its position in shares of EQT by 12.9% in the 4th quarter. Reaves W H & Co. Inc. now owns 1,161,975 shares of the oil and gas producer's stock worth $62,282,000 after purchasing an additional 132,741 shares during the period. Rhumbline Advisers lifted its position in shares of EQT by 4.7% in the 3rd quarter. Rhumbline Advisers now owns 1,108,307 shares of the oil and gas producer's stock worth $60,325,000 after purchasing an additional 49,714 shares during the period. Whittier Trust Co. lifted its position in shares of EQT by 9.6% in the 1st quarter. Whittier Trust Co. now owns 643,321 shares of the oil and gas producer's stock worth $38,857,000 after purchasing an additional 56,149 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of EQT by 9.1% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 583,072 shares of the oil and gas producer's stock worth $31,253,000 after purchasing an additional 48,587 shares during the period. Institutional investors and hedge funds own 90.81% of the company's stock.

EQT Company Profile

EQT Corporation NYSE: EQT is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT's primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.

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