EQT (NYSE:EQT) Shares Gap Down - What's Next?

EQT Corporation (NYSE:EQT - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $59.19, but opened at $57.80. EQT shares last traded at $55.30, with a volume of 1,859,584 shares traded.

Wall Street Analyst Weigh In

EQT has been the topic of a number of recent analyst reports. Stephens cut their price target on shares of EQT from $59.00 to $57.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Wells Fargo & Company upped their price target on shares of EQT from $59.00 to $63.00 and gave the company an "overweight" rating in a research note on Monday, June 16th. Piper Sandler upped their price target on shares of EQT from $35.00 to $48.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Morgan Stanley reaffirmed an "overweight" rating on shares of EQT in a report on Tuesday, July 15th. Finally, Wall Street Zen downgraded EQT from a "hold" rating to a "sell" rating in a report on Monday, April 7th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $60.63.

EQT Trading Down 7.7%

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 firm has a market capitalization of $32.70 billion, a PE ratio of 95.81, a P/E/G ratio of 0.38 and a beta of 0.65. The company's fifty day simple moving average is $56.63 and its 200-day simple moving average is $52.95.

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, beating the consensus estimate of $0.98 by $0.20. The business had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.16 billion. EQT had a net margin of 6.59% and a return on equity of 5.52%. As a group, sell-side analysts expect that EQT Corporation 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. Shareholders of record on Wednesday, August 6th will be paid a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Wednesday, August 6th. EQT's dividend payout ratio (DPR) is presently 110.53%.

Hedge Funds Weigh In On EQT

Institutional investors have recently bought and sold shares of the company. Invesco Ltd. raised its stake in shares of EQT by 46.3% in the 4th quarter. Invesco Ltd. now owns 13,143,774 shares of the oil and gas producer's stock valued at $606,059,000 after acquiring an additional 4,162,065 shares during the period. Slate Path Capital LP purchased a new stake in shares of EQT in the 4th quarter valued at approximately $123,575,000. Castle Hook Partners LP raised its stake in shares of EQT by 199.5% in the 4th 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 acquiring an additional 2,658,375 shares during the period. Capital International Investors raised its stake in shares of EQT by 21.3% in the 4th quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer's stock valued at $638,867,000 after acquiring an additional 2,433,632 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of EQT in the 1st quarter valued at approximately $120,252,000. 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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