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

Key Points

• Analysts rate EQT a “Moderate Buy”: Twenty of 29 analysts recommend buying the stock, with an average 12-month price target of $68.08 versus its recent price of $51.17. Several firms recently adjusted targets, generally maintaining positive ratings.
• Recent financial results fell short of expectations: EQT reported quarterly EPS of $0.39 versus the $0.41 consensus estimate, while revenue declined 29.2% year over year to $1.68 billion. The stock trades near the lower end of its 12-month range.
• EQT continues returning cash to investors: The company declared a quarterly dividend of $0.165 per share, equal to a 1.3% annualized yield. Institutional investors own approximately 90.81% of the company, while CEO Toby Z. Rice sold a small stake under a pre-arranged trading plan.

EQT Corporation (NYSE:EQT - Get Free Report) has been given an average recommendation of "Moderate Buy" by the twenty-nine ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $68.0833.

A number of research analysts have weighed in on EQT shares. Weiss Ratings lowered shares of EQT from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, July 30th. The Goldman Sachs Group lowered their target price on shares of EQT from $65.00 to $63.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. Capital One Financial raised their price target on shares of EQT from $64.00 to $68.00 and gave the company an "overweight" rating in a research report on Tuesday, April 28th. Morgan Stanley cut their price target on EQT from $74.00 to $68.00 and set an "overweight" rating for the company in a research note on Friday, June 26th. Finally, Truist Financial cut their price target on EQT from $74.00 to $65.00 and set a "buy" rating for the company in a research note on Wednesday, June 24th.

Insider Buying and Selling

In other EQT news, CEO Toby Z. Rice sold 1,731 shares of the firm's stock in a transaction on Monday, June 8th. The stock was sold at an average price of $53.46, for a total transaction of $92,539.26. Following the transaction, the chief executive officer directly owned 2,333,193 shares in the company, valued at approximately $124,732,497.78. This trade represents a 0.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.72% of the company's stock.

Institutional Trading of EQT

Several institutional investors have recently made changes to their positions in the company. Reaves W H & Co. Inc. lifted its position in shares of EQT by 12.9% during 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 buying an additional 132,741 shares in the last quarter. BOKF NA grew its holdings in shares of EQT by 25.9% in the fourth quarter. BOKF NA now owns 138,368 shares of the oil and gas producer's stock valued at $7,417,000 after acquiring an additional 28,427 shares in the last quarter. Cullen Frost Bankers Inc. grew its holdings in shares of EQT by 21.5% in the fourth quarter. Cullen Frost Bankers Inc. now owns 186,352 shares of the oil and gas producer's stock valued at $9,988,000 after acquiring an additional 32,921 shares in the last quarter. Allstate Corp increased its position in shares of EQT by 114.0% during the fourth quarter. Allstate Corp now owns 48,523 shares of the oil and gas producer's stock valued at $2,601,000 after acquiring an additional 25,852 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC purchased a new stake in shares of EQT during the fourth quarter valued at approximately $1,099,000. Institutional investors own 90.81% of the company's stock.

EQT Price Performance

Shares of EQT opened at $51.17 on Thursday. EQT has a 12-month low of $47.94 and a 12-month high of $68.24. The business's fifty day moving average is $52.05 and its 200 day moving average is $56.54. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.19. The stock has a market cap of $32.01 billion, a P/E ratio of 11.87 and a beta of 0.58.

EQT (NYSE:EQT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.02). EQT had a net margin of 28.44% and a return on equity of 9.31%. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the firm posted $0.45 EPS. The business's revenue for the quarter was down 29.2% compared to the same quarter last year. Sell-side analysts anticipate that EQT will post 4.02 earnings per share for the current fiscal year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 5th will be issued a dividend of $0.165 per share. The ex-dividend date is Wednesday, August 5th. This represents a $0.66 annualized dividend and a yield of 1.3%. EQT's dividend payout ratio is 15.31%.

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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