TD Cowen Initiates Coverage on EQT (NYSE:EQT)

TD Cowen assumed coverage on shares of EQT (NYSE:EQT - Free Report) in a research report released on Friday, MarketBeat.com reports. The firm issued a hold rating and a $43.00 price target on the oil and gas producer's stock.

Several other equities research analysts also recently weighed in on EQT. Morgan Stanley increased their price target on EQT from $37.00 to $49.00 and gave the stock an overweight rating in a report on Wednesday. Piper Sandler increased their price target on EQT from $45.00 to $47.00 and gave the stock an overweight rating in a report on Thursday, March 7th. Jefferies Financial Group increased their price target on EQT from $42.00 to $43.00 and gave the stock a buy rating in a report on Friday, April 5th. JPMorgan Chase & Co. reaffirmed a neutral rating and set a $37.00 price target (down from $39.00) on shares of EQT in a report on Wednesday, March 20th. Finally, Wells Fargo & Company downgraded EQT from an overweight rating to an equal weight rating and decreased their price target for the stock from $48.00 to $37.00 in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, EQT currently has a consensus rating of Hold and an average price target of $43.38.

EQT Stock Performance

NYSE EQT traded up $0.43 on Friday, reaching $36.65. The stock had a trading volume of 4,957,480 shares, compared to its average volume of 6,418,795. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.99 and a current ratio of 0.99. EQT has a 12-month low of $30.84 and a 12-month high of $45.23. The business's 50-day moving average price is $35.88 and its 200 day moving average price is $38.08. The stock has a market cap of $16.14 billion, a P/E ratio of 8.59 and a beta of 1.12.

EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.48 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.01. EQT had a return on equity of 7.12% and a net margin of 25.12%. The company had revenue of $1.55 billion during the quarter, compared to analysts' expectations of $1.58 billion. During the same quarter in the previous year, the business earned $0.42 earnings per share. The firm's revenue for the quarter was up 17.6% on a year-over-year basis. As a group, equities analysts expect that EQT will post 1.4 earnings per share for the current year.

EQT Dividend Announcement

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 given a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Tuesday, May 7th. EQT's dividend payout ratio is currently 14.82%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Private Wealth Management Group LLC purchased a new stake in EQT during the 4th quarter worth about $30,000. Laurel Wealth Advisors LLC purchased a new stake in EQT during the 2nd quarter worth about $33,000. Tyler Stone Wealth Management purchased a new stake in EQT during the 2nd quarter worth about $40,000. Clearstead Advisors LLC purchased a new stake in EQT during the 3rd quarter worth about $41,000. Finally, BKM Wealth Management LLC purchased a new stake in EQT during the 4th quarter worth about $40,000. Hedge funds and other institutional investors 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.