EQT (NYSE:EQT) Price Target Increased to $54.00 by Analysts at Scotiabank

EQT (NYSE:EQT - Free Report) had its target price boosted by Scotiabank from $52.00 to $54.00 in a report published on Thursday, Benzinga reports. They currently have a sector outperform rating on the oil and gas producer's stock.

Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada reaffirmed an outperform rating and issued a $46.00 price target on shares of EQT in a report on Tuesday, March 5th. Wells Fargo & Company cut EQT from an overweight rating to an equal weight rating and cut their price target for the company from $48.00 to $37.00 in a report on Wednesday, April 17th. Piper Sandler reissued an overweight rating and issued a $46.00 target price (up from $41.00) on shares of EQT in a report on Tuesday, April 30th. JPMorgan Chase & Co. reissued a neutral rating and issued a $37.00 target price (down from $39.00) on shares of EQT in a report on Wednesday, March 20th. Finally, Stephens increased their target price on EQT from $46.00 to $47.00 and gave the stock an equal weight rating in a report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, EQT has an average rating of Hold and an average price target of $44.69.

EQT Stock Up 0.3 %

NYSE EQT traded up $0.11 on Thursday, reaching $40.02. The stock had a trading volume of 3,929,622 shares, compared to its average volume of 6,527,438. The business has a 50 day moving average price of $37.11 and a 200 day moving average price of $37.78. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32. EQT has a 1 year low of $31.58 and a 1 year high of $45.23. The company has a market capitalization of $17.67 billion, a price-to-earnings ratio of 29.00 and a beta of 1.09.

EQT (NYSE:EQT - Get Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.17. EQT had a return on equity of 4.57% and a net margin of 10.96%. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the prior year, the company posted $1.70 EPS. The firm's revenue was down 28.8% on a year-over-year basis. On average, analysts forecast that EQT will post 1.14 EPS for the current fiscal year.

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 8th will be given a $0.1575 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.63 dividend on an annualized basis and a yield of 1.57%. EQT's payout ratio is 45.65%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of EQT. Commonwealth Equity Services LLC boosted its position in EQT by 1.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 118,245 shares of the oil and gas producer's stock valued at $4,798,000 after buying an additional 1,124 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in EQT by 3.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 46,851 shares of the oil and gas producer's stock valued at $1,901,000 after buying an additional 1,347 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in EQT by 61.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 55,864 shares of the oil and gas producer's stock valued at $2,267,000 after buying an additional 21,212 shares during the last quarter. Stratos Wealth Partners LTD. bought a new position in shares of EQT in the 3rd quarter worth $299,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of EQT by 2.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,217 shares of the oil and gas producer's stock worth $2,565,000 after purchasing an additional 1,668 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors.

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.