EQT (NYSE:EQT) Hits New 52-Week High Following Analyst Upgrade

EQT Co. (NYSE:EQT - Get Free Report)'s stock price hit a new 52-week high during trading on Monday after Wells Fargo & Company raised their price target on the stock from $59.00 to $63.00. Wells Fargo & Company currently has an overweight rating on the stock. EQT traded as high as $58.75 and last traded at $58.28, with a volume of 1821972 shares changing hands. The stock had previously closed at $56.84.

Several other analysts have also recently commented on EQT. Piper Sandler raised their price target on EQT from $35.00 to $48.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. TD Cowen raised EQT from a "hold" rating to a "buy" rating and set a $54.00 target price for the company in a report on Tuesday, April 8th. JPMorgan Chase & Co. boosted their target price on shares of EQT from $58.00 to $60.00 and gave the stock an "overweight" rating in a research report on Thursday, March 13th. Stephens cut their price target on shares of EQT from $59.00 to $57.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Finally, Mizuho boosted their price objective on shares of EQT from $57.00 to $60.00 and gave the stock an "outperform" rating in a report on Tuesday, April 1st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $57.39.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Zions Bancorporation National Association UT acquired a new position in shares of EQT in the 1st quarter valued at $35,000. Harbour Investments Inc. raised its stake in shares of EQT by 48.4% during the first quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer's stock valued at $37,000 after purchasing an additional 226 shares during the period. University of Texas Texas AM Investment Management Co. lifted its holdings in 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 worth $44,000 after buying an additional 310 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of EQT by 26.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer's stock worth $45,000 after acquiring an additional 205 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in shares of EQT by 22.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer's stock valued at $48,000 after buying an additional 193 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company's stock.

EQT Stock Performance

The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70. The company has a market capitalization of $34.95 billion, a price-to-earnings ratio of 145.79, a price-to-earnings-growth ratio of 0.64 and a beta of 0.65. The company's fifty day simple moving average is $53.14 and its two-hundred day simple moving average is $50.67.

EQT (NYSE:EQT - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 EPS for the quarter, topping the consensus estimate of $0.98 by $0.20. EQT had a return on equity of 4.35% and a net margin of 4.37%. The company had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.16 billion. Equities research analysts predict that EQT Co. will post 3.27 earnings per share for the current fiscal year.

EQT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th were issued a $0.1575 dividend. The ex-dividend date of this dividend was Wednesday, May 7th. This represents a $0.63 dividend on an annualized basis and a yield of 1.08%. EQT's dividend payout ratio is currently 110.53%.

EQT Company Profile

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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