EQT (NYSE:EQT) PT Lowered to $41.00

EQT (NYSE:EQT - Free Report) had its target price cut by Piper Sandler from $47.00 to $41.00 in a research note published on Friday, Benzinga reports. They currently have an overweight rating on the oil and gas producer's stock.

Several other equities analysts have also recently weighed in on EQT. Morgan Stanley increased their price objective on shares of EQT from $37.00 to $49.00 and gave the stock an overweight rating in a research note on Wednesday. Mizuho lifted their price target on shares of EQT from $39.00 to $40.00 and gave the stock a neutral rating in a research note on Tuesday. StockNews.com upgraded EQT to a sell rating in a research note on Tuesday, March 12th. Wells Fargo & Company downgraded EQT from an overweight rating to an equal weight rating and lowered their target price for the company from $48.00 to $37.00 in a research report on Wednesday. Finally, JPMorgan Chase & Co. reissued a neutral rating and set a $37.00 price target (down previously from $39.00) on shares of EQT in a report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $43.38.

EQT Stock Performance

EQT traded up $0.43 during mid-day trading on Friday, reaching $36.65. 4,957,480 shares of the company traded hands, compared to its average volume of 6,418,795. The company's fifty day moving average price is $35.88 and its 200-day moving average price is $38.08. The stock has a market capitalization of $16.14 billion, a P/E ratio of 8.59 and a beta of 1.12. 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 52-week low of $30.84 and a 52-week high of $45.23.

EQT (NYSE:EQT - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $1.55 billion during the quarter, compared to analysts' expectations of $1.58 billion. EQT had a return on equity of 7.12% and a net margin of 25.12%. EQT's revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 earnings per share. On average, sell-side analysts expect that EQT will post 1.4 EPS for the current year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 8th will be issued 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 of this dividend is Tuesday, May 7th. EQT's dividend payout ratio (DPR) is presently 14.82%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dupree Financial Group LLC bought a new stake in shares of EQT in the 1st quarter valued at approximately $6,573,000. Abundance Wealth Counselors raised its stake in shares of EQT by 4.5% in the first quarter. Abundance Wealth Counselors now owns 21,071 shares of the oil and gas producer's stock valued at $781,000 after acquiring an additional 910 shares during the period. Norden Group LLC bought a new position in shares of EQT during the first quarter valued at approximately $401,000. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of EQT by 1.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 896,602 shares of the oil and gas producer's stock valued at $33,237,000 after acquiring an additional 13,234 shares in the last quarter. Finally, SteelPeak Wealth LLC boosted its position in EQT by 116.3% during the 1st quarter. SteelPeak Wealth LLC now owns 57,527 shares of the oil and gas producer's stock valued at $2,133,000 after acquiring an additional 30,927 shares in the last quarter. 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.