Piper Sandler Reiterates Overweight Rating for EQT (NYSE:EQT)

Piper Sandler reiterated their overweight rating on shares of EQT (NYSE:EQT - Free Report) in a report published on Tuesday, Benzinga reports. Piper Sandler currently has a $46.00 target price on the oil and gas producer's stock, up from their prior target price of $41.00.

EQT has been the subject of a number of other research reports. Truist Financial cut their price target on shares of EQT from $37.00 to $35.00 and set a hold rating for the company in a report on Friday, April 5th. Scotiabank upgraded shares of EQT from a sector perform rating to a sector outperform rating and lifted their target price for the company from $40.00 to $52.00 in a report on Thursday, April 11th. Royal Bank of Canada reiterated an outperform rating and issued a $46.00 target price on shares of EQT in a report on Tuesday, March 5th. The Goldman Sachs Group dropped their target price on shares of EQT from $48.00 to $43.00 and set a buy rating for the company in a report on Tuesday, April 2nd. Finally, Jefferies Financial Group lifted their target price on shares of EQT from $42.00 to $43.00 and gave the company a buy rating in a report on Friday, April 5th. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $44.56.

EQT Price Performance

EQT stock traded down $0.96 during mid-day trading on Tuesday, reaching $40.09. The company's stock had a trading volume of 7,630,515 shares, compared to its average volume of 6,598,253. The stock has a market cap of $17.70 billion, a PE ratio of 29.75 and a beta of 1.12. 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 fifty-two week low of $30.84 and a fifty-two week high of $45.23. The company's 50 day moving average is $36.55 and its two-hundred day moving average is $37.89.

EQT (NYSE:EQT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.17. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.58 billion. EQT had a net margin of 10.96% and a return on equity of 4.57%. The business's revenue was down 28.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.70 EPS. Equities research analysts expect that EQT will post 1.01 EPS for the current year.

EQT Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 1.57%. EQT's dividend payout ratio is presently 45.65%.

Hedge Funds Weigh In On EQT

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Horizon Advisory Services Inc. purchased a new stake in shares of EQT during the 1st quarter worth $231,000. Crescent Grove Advisors LLC purchased a new stake in shares of EQT during the 1st quarter worth $377,000. KG&L Capital Management LLC purchased a new stake in shares of EQT during the 1st quarter worth $270,000. Bank of New York Mellon Corp lifted its position in shares of EQT by 27.9% during the 1st quarter. Bank of New York Mellon Corp now owns 19,883,694 shares of the oil and gas producer's stock worth $737,089,000 after purchasing an additional 4,339,407 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of EQT by 33.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 91,403 shares of the oil and gas producer's stock worth $3,388,000 after purchasing an additional 22,681 shares during 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.