EQT Corporation (NYSE:EQT) Receives $60.84 Consensus Price Target from Brokerages

Key Points

• EQT Corporation has an average rating of "Moderate Buy" from 19 brokerages, with a 12-month price target of $60.84.
• Significant institutional changes include Invesco increasing its stake in EQT by 46.3% during the fourth quarter, now owning over 13 million shares.
• EQT declared a quarterly dividend of $0.1575 per share, with an annualized yield of 1.21% and a payout ratio of 34.05%.

EQT Corporation (NYSE:EQT - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the nineteen brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $60.84.

EQT has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of EQT from a "hold" rating to a "sell" rating in a research report on Monday, April 7th. Barclays raised their target price on shares of EQT from $65.00 to $68.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Morgan Stanley reaffirmed an "overweight" rating on shares of EQT in a research note on Tuesday, July 15th. Piper Sandler lifted their price target on shares of EQT from $48.00 to $49.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Finally, TD Cowen upgraded shares of EQT from a "hold" rating to a "buy" rating and set a $54.00 price target on the stock in a report on Tuesday, April 8th.

EQT Stock Performance

EQT traded up $0.32 on Friday, reaching $53.42. The company had a trading volume of 1,799,946 shares, compared to its average volume of 8,485,250. EQT has a fifty-two week low of $30.02 and a fifty-two week high of $61.02. The stock has a market cap of $33.34 billion, a P/E ratio of 28.85, a P/E/G ratio of 0.36 and a beta of 0.65. The company's fifty day moving average is $56.25 and its 200 day moving average is $53.15. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.71 and a current ratio of 0.71.

EQT (NYSE:EQT - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.07). EQT had a return on equity of 6.24% and a net margin of 15.87%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the previous year, the company earned ($0.08) EPS. As a group, analysts predict that EQT will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 6th will be paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Wednesday, August 6th. EQT's dividend payout ratio is currently 34.05%.

Insider Buying and Selling at EQT

In other news, EVP Sarah Fenton sold 12,438 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $51.94, for a total value of $646,029.72. Following the sale, the executive vice president owned 13,297 shares of the company's stock, valued at approximately $690,646.18. This represents a 48.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.65% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Zions Bancorporation National Association UT purchased a new position in EQT during the 1st quarter valued at about $35,000. Harbour Investments Inc. boosted its holdings in shares of EQT by 48.4% in the 1st quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer's stock valued at $37,000 after buying an additional 226 shares in the last quarter. University of Texas Texas AM Investment Management Co. boosted its holdings in shares of EQT by 47.7% in the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer's stock valued at $44,000 after buying an additional 310 shares in the last quarter. Mascagni Wealth Management Inc. bought a new stake in shares of EQT in the 4th quarter valued at about $55,000. Finally, Private Trust Co. NA boosted its holdings in shares of EQT by 38.1% in the 2nd quarter. Private Trust Co. NA now owns 1,026 shares of the oil and gas producer's stock valued at $60,000 after buying an additional 283 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company's stock.

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.