EQT (NYSE:EQT) Stock Rating Lowered by Wells Fargo & Company

Wells Fargo & Company downgraded shares of EQT (NYSE:EQT - Free Report) from an overweight rating to an equal weight rating in a research report report published on Wednesday, MarketBeat Ratings reports. They currently have $37.00 target price on the oil and gas producer's stock, down from their previous target price of $48.00.

A number of other equities analysts have also issued reports on the company. Scotiabank raised EQT from a sector perform rating to a sector outperform rating and raised their price target for the stock from $40.00 to $52.00 in a report on Thursday, April 11th. The Goldman Sachs Group dropped their target price on EQT from $48.00 to $43.00 and set a buy rating on the stock in a report on Tuesday, April 2nd. Royal Bank of Canada reaffirmed an outperform rating and set a $46.00 price target on shares of EQT in a report on Tuesday, March 5th. Truist Financial lowered their price objective on shares of EQT from $37.00 to $35.00 and set a hold rating on the stock in a research report on Friday, April 5th. Finally, StockNews.com upgraded shares of EQT to a sell rating in a research report on Tuesday, March 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $43.13.

EQT Stock Performance

EQT traded down $0.17 during trading on Wednesday, hitting $36.03. 5,246,712 shares of the stock were exchanged, compared to its average volume of 6,433,545. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. EQT has a 1-year low of $30.84 and a 1-year high of $45.23. The stock has a fifty day moving average price of $35.81 and a two-hundred day moving average price of $38.11. The firm has a market capitalization of $15.87 billion, a P/E ratio of 8.54 and a beta of 1.12.

EQT (NYSE:EQT - Get Free Report) last announced its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.48 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.01. The business had revenue of $1.55 billion for the quarter, compared to analysts' expectations of $1.58 billion. EQT had a net margin of 25.12% and a return on equity of 7.12%. The company's quarterly revenue was up 17.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 EPS. As a group, sell-side analysts predict that EQT will post 1.31 earnings per share for the current year.

EQT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th will be paid a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.75%. EQT's dividend payout ratio (DPR) is 14.82%.

Institutional Trading of EQT

Several large investors have recently bought and sold shares of the company. Private Wealth Management Group LLC acquired a new position in shares of EQT during the 4th quarter worth approximately $30,000. Laurel Wealth Advisors LLC acquired a new position in shares of EQT in the second quarter worth $33,000. Tyler Stone Wealth Management purchased a new stake in shares of EQT in the second quarter valued at $40,000. Clearstead Advisors LLC purchased a new stake in shares of EQT in the third quarter valued at $41,000. Finally, BKM Wealth Management LLC acquired a new stake in shares of EQT during the fourth quarter valued at $40,000. Institutional investors and hedge funds own 90.81% of the company's stock.

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.