EQT (NYSE:EQT) Hits New 12-Month High - What's Next?

EQT Corporation (NYSE:EQT - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $61.02 and last traded at $60.04, with a volume of 1380851 shares trading hands. The stock had previously closed at $60.44.

Analysts Set New Price Targets

EQT has been the topic of several recent analyst reports. Stephens lowered their target price on shares of EQT from $59.00 to $57.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. JPMorgan Chase & Co. boosted their price target on EQT from $58.00 to $60.00 and gave the stock an "overweight" rating in a research note on Thursday, March 13th. Wall Street Zen downgraded EQT from a "hold" rating to a "sell" rating in a research note on Monday, April 7th. TD Cowen upgraded EQT from a "hold" rating to a "buy" rating and set a $54.00 target price on the stock in a research report on Tuesday, April 8th. Finally, Citigroup upped their target price on EQT from $51.00 to $60.00 and gave the company a "buy" rating in a report on Monday, March 17th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.39.

EQT Stock Performance

The stock has a market cap of $35.90 billion, a price-to-earnings ratio of 105.38, a price-to-earnings-growth ratio of 0.37 and a beta of 0.65. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.57 and a quick ratio of 0.57. The stock's 50-day moving average is $54.15 and its 200-day moving average is $51.18.

EQT (NYSE:EQT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.20. The business had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.16 billion. EQT had a return on equity of 5.52% and a net margin of 6.59%. Analysts anticipate that EQT Corporation will post 3.27 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Wednesday, May 7th were issued a $0.1575 dividend. The ex-dividend date was Wednesday, May 7th. This represents a $0.63 dividend on an annualized basis and a yield of 1.05%. EQT's payout ratio is 110.53%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Invesco Ltd. increased its position in shares of EQT by 46.3% in the fourth quarter. Invesco Ltd. now owns 13,143,774 shares of the oil and gas producer's stock worth $606,059,000 after acquiring an additional 4,162,065 shares in the last quarter. Slate Path Capital LP acquired a new position in shares of EQT during the fourth quarter worth $123,575,000. Castle Hook Partners LP boosted its stake in shares of EQT by 199.5% in the fourth quarter. Castle Hook Partners LP now owns 3,990,714 shares of the oil and gas producer's stock valued at $184,012,000 after purchasing an additional 2,658,375 shares during the period. Raymond James Financial Inc. acquired a new stake in EQT during the 4th quarter valued at $113,924,000. Finally, Capital International Investors increased its stake in EQT by 21.3% during the 4th quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer's stock worth $638,867,000 after buying an additional 2,433,632 shares during the period. 90.81% of the stock is owned by hedge funds and other institutional investors.

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.

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