BMO Capital Markets Issues Pessimistic Forecast for EQT (NYSE:EQT) Stock Price

Key Points

• BMO Capital Markets has lowered its price target for EQT from $62.00 to $60.00, maintaining an "outperform" rating on the stock, which indicates a potential upside of 22.26% from its previous close.
• Other analysts have varied opinions, with Piper Sandler giving EQT a "neutral" rating and a price target of $49.00, while Wells Fargo raised its target to $63.00 and maintains an "overweight" rating.
• EQT reported $0.45 earnings per share for the last quarter, missing estimates, with revenue of $1.60 billion compared to a $1.78 billion estimate.

EQT (NYSE:EQT - Free Report) had its target price decreased by BMO Capital Markets from $62.00 to $60.00 in a research report sent to investors on Monday morning,MarketScreener reports. BMO Capital Markets currently has an outperform rating on the oil and gas producer's stock.

Several other equities research analysts have also recently commented on EQT. Mizuho cut their target price on EQT from $66.00 to $60.00 and set an "outperform" rating on the stock in a research note on Monday, September 15th. Piper Sandler raised their price objective on EQT from $48.00 to $49.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Royal Bank Of Canada raised their price objective on EQT from $55.00 to $60.00 and gave the company a "sector perform" rating in a report on Tuesday, July 8th. Jefferies Financial Group restated a "buy" rating and issued a $70.00 price objective (up previously from $60.00) on shares of EQT in a report on Tuesday, July 8th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of EQT in a research note on Tuesday, July 15th. Fifteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, EQT currently has a consensus rating of "Moderate Buy" and an average target price of $62.81.

EQT Stock Up 1.4%

Shares of NYSE:EQT traded up $0.70 during trading on Monday, hitting $49.89. 8,400,706 shares of the company's stock traded hands, compared to its average volume of 7,390,604. EQT has a 52 week low of $34.89 and a 52 week high of $61.02. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.32. The company has a market cap of $31.13 billion, a price-to-earnings ratio of 26.97, a price-to-earnings-growth ratio of 0.40 and a beta of 0.58. The company has a 50-day moving average price of $52.23 and a 200-day moving average price of $53.18.

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

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 6th were paid a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Wednesday, August 6th. EQT's dividend payout ratio is 34.05%.

Insiders Place Their Bets

In related news, EVP Sarah Fenton sold 12,438 shares of the stock in a transaction on Friday, July 25th. The stock was 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 in the company, valued at approximately $690,646.18. This represents a 48.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Vicky A. Bailey sold 4,259 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $51.56, for a total value of $219,594.04. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT acquired a new stake in shares of EQT during the 1st quarter worth $35,000. Harbour Investments Inc. raised its position in EQT by 48.4% in 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 last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of EQT during the second quarter worth about $41,000. Anchor Investment Management LLC raised its position in shares of EQT by 133.3% during the second quarter. Anchor Investment Management LLC now owns 875 shares of the oil and gas producer's stock worth $51,000 after acquiring an additional 500 shares during the last quarter. Finally, Mascagni Wealth Management Inc. bought a new position in shares of EQT during the fourth quarter worth about $55,000. Institutional investors own 90.81% of the company's stock.

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.