EQT Corporation (NYSE:EQT) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Analyst sentiment remains positive on EQT, with 29 covering firms giving it a consensus rating of “Moderate Buy.” The average 12-month price target is about $68.21, above the stock’s recent trading level.
• Recent insider sales included shares sold by director Vicky A. Bailey and CEO Toby Z. Rice, though Rice still holds a large personal stake. Overall, insiders own just 0.72% of the company while institutions hold 90.81%.
• EQT beat earnings expectations in its latest quarter, posting $2.33 EPS versus the expected $2.01. The company also paid a quarterly dividend of $0.165 per share, equal to a 1.4% annualized yield.

Shares of EQT Corporation (NYSE:EQT - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the twenty-nine ratings firms that are currently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation, twenty-one have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $68.2083.

A number of research analysts have recently weighed in on the company. Wolfe Research lifted their price target on EQT from $64.00 to $69.00 and gave the company an "outperform" rating in a report on Monday, April 6th. BMO Capital Markets reduced their price objective on EQT from $76.00 to $70.00 and set an "outperform" rating for the company in a research note on Wednesday, May 13th. Freedom Capital upgraded shares of EQT to a "strong-buy" rating in a report on Tuesday, June 30th. UBS Group reduced their price objective on EQT from $74.00 to $73.00 and set a "buy" rating for the company in a research report on Wednesday. Finally, Sanford C. Bernstein decreased their target price on shares of EQT from $73.00 to $69.00 and set an "outperform" rating for the company in a research report on Monday, April 13th.

Insider Activity

In other news, Director Vicky A. Bailey sold 4,116 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $59.80, for a total value of $246,136.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Toby Z. Rice sold 1,731 shares of EQT stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $53.46, for a total value of $92,539.26. Following the sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 102,830 shares of company stock valued at $5,602,913. 0.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EQT

A number of institutional investors have recently added to or reduced their stakes in EQT. Greykasell Wealth Strategies Inc. acquired a new position in shares of EQT in the 4th quarter worth approximately $26,000. Aventura Private Wealth LLC acquired a new stake in EQT in the 4th quarter valued at $31,000. Fortitude Family Office LLC boosted its stake in EQT by 95.6% in the 4th quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer's stock valued at $31,000 after buying an additional 280 shares in the last quarter. Root Financial Partners LLC raised its stake in EQT by 35.4% during the first quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer's stock worth $49,000 after acquiring an additional 202 shares in the last quarter. Finally, Elyxium Wealth LLC acquired a new position in EQT during the fourth quarter worth $49,000. 90.81% of the stock is owned by institutional investors and hedge funds.

EQT Trading Down 2.6%

Shares of EQT stock traded down $1.29 during trading on Friday, hitting $48.86. The stock had a trading volume of 10,859,379 shares, compared to its average volume of 7,544,970. EQT has a 1 year low of $47.94 and a 1 year high of $68.24. The stock has a 50 day simple moving average of $54.11 and a 200 day simple moving average of $56.71. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $30.56 billion, a PE ratio of 9.27 and a beta of 0.55.

EQT (NYSE:EQT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The oil and gas producer reported $2.33 EPS for the quarter, topping analysts' consensus estimates of $2.01 by $0.32. EQT had a net margin of 31.94% and a return on equity of 9.74%. The firm had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same quarter last year, the business posted $1.18 EPS. On average, research analysts expect that EQT will post 4.26 EPS for the current fiscal year.

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Wednesday, May 6th were issued a $0.165 dividend. The ex-dividend date was Wednesday, May 6th. This represents a $0.66 dividend on an annualized basis and a yield of 1.4%. EQT's dividend payout ratio is currently 12.52%.

About EQT

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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