EQT Co. (NYSE:EQT) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of EQT Co. (NYSE:EQT) have earned an average recommendation of “Moderate Buy” from the sixteen analysts that are covering the firm, MarketBeat reports. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $45.24.

A number of equities analysts recently weighed in on the stock. Stephens upped their target price on shares of EQT from $46.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 24th. Sanford C. Bernstein upgraded shares of EQT from an “underperform” rating to a “market perform” rating and upped their target price for the stock from $27.00 to $34.00 in a research report on Wednesday, April 10th. BMO Capital Markets upped their target price on shares of EQT from $40.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, May 13th. Piper Sandler restated an “overweight” rating and set a $46.00 target price (up previously from $41.00) on shares of EQT in a research report on Tuesday, April 30th. Finally, Scotiabank upped their price target on shares of EQT from $52.00 to $54.00 and gave the company a “sector outperform” rating in a research note on Thursday, May 9th.

Insider Activity

In related news, EVP William E. Jordan sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $40.72, for a total value of $1,425,200.00. Following the transaction, the executive vice president now owns 456,837 shares of the company’s stock, valued at approximately $18,602,402.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Lesley Evancho sold 46,884 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $41.29, for a total value of $1,935,840.36. Following the transaction, the insider now owns 160,884 shares of the company’s stock, valued at approximately $6,642,900.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP William E. Jordan sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $40.72, for a total transaction of $1,425,200.00. Following the completion of the transaction, the executive vice president now directly owns 456,837 shares in the company, valued at approximately $18,602,402.64. The disclosure for this sale can be found here. Insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in EQT. Private Wealth Management Group LLC bought a new position in EQT during the 4th quarter worth about $30,000. BKM Wealth Management LLC bought a new position in EQT during the 4th quarter worth about $40,000. Principal Securities Inc. bought a new position in EQT during the 4th quarter worth about $51,000. EntryPoint Capital LLC bought a new position in EQT during the 1st quarter worth about $54,000. Finally, Massmutual Trust Co. FSB ADV grew its holdings in EQT by 52.6% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,563 shares of the oil and gas producer’s stock worth $60,000 after acquiring an additional 539 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Stock Performance

EQT opened at $37.76 on Friday. The firm has a market cap of $16.67 billion, a P/E ratio of 27.36 and a beta of 1.06. EQT has a 1-year low of $32.07 and a 1-year high of $45.23. The company has a 50 day simple moving average of $39.81 and a two-hundred day simple moving average of $37.63. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.88.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. EQT had a net margin of 10.96% and a return on equity of 4.57%. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the business earned $1.70 earnings per share. EQT’s revenue for the quarter was down 28.8% on a year-over-year basis. Equities analysts forecast that EQT will post 1.03 earnings per share for the current fiscal year.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th were paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend was Tuesday, May 7th. EQT’s dividend payout ratio is currently 45.65%.

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.