EQT (NYSE:EQT) Rating Increased to Buy at Citigroup

Citigroup upgraded shares of EQT (NYSE:EQT) from a neutral rating to a buy rating in a research report released on Thursday, MarketBeat reports. Citigroup currently has $44.00 price objective on the oil and gas producer’s stock, up from their previous price objective of $37.00.

Several other equities analysts also recently commented on the stock. Piper Sandler downgraded shares of EQT from an overweight rating to a neutral rating and cut their price target for the company from $43.00 to $32.00 in a report on Thursday, August 15th. Wolfe Research initiated coverage on EQT in a research report on Thursday, July 18th. They issued an outperform rating and a $51.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on EQT from $37.00 to $39.00 and gave the stock an overweight rating in a research report on Thursday, September 26th. StockNews.com upgraded shares of EQT to a sell rating in a report on Friday, July 26th. Finally, Truist Financial reduced their price target on shares of EQT from $36.00 to $32.00 and set a hold rating on the stock in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, EQT currently has an average rating of Moderate Buy and an average target price of $42.18.

EQT Stock Down 1.9 %

Shares of NYSE EQT opened at $36.94 on Thursday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33. EQT has a 12-month low of $30.02 and a 12-month high of $45.23. The firm’s 50-day moving average price is $33.46 and its 200-day moving average price is $36.53. The stock has a market capitalization of $16.31 billion, a price-to-earnings ratio of 26.77 and a beta of 1.06.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, July 23rd. The oil and gas producer reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.12. EQT had a net margin of 12.45% and a return on equity of 4.52%. The company had revenue of $952.51 million during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the firm earned ($0.17) earnings per share. EQT’s quarterly revenue was down 6.5% compared to the same quarter last year. On average, equities research analysts anticipate that EQT will post 1.37 EPS for the current fiscal year.

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were paid a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend was Wednesday, August 7th. EQT’s dividend payout ratio (DPR) is 45.65%.

Institutional Trading of EQT

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System lifted its stake in shares of EQT by 3.6% during the 4th quarter. California State Teachers Retirement System now owns 538,463 shares of the oil and gas producer’s stock worth $20,817,000 after purchasing an additional 18,804 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in EQT by 421.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 64,900 shares of the oil and gas producer’s stock worth $2,509,000 after purchasing an additional 52,443 shares in the last quarter. Cibc World Markets Corp lifted its position in shares of EQT by 162.4% during the fourth quarter. Cibc World Markets Corp now owns 52,370 shares of the oil and gas producer’s stock valued at $2,025,000 after buying an additional 32,409 shares during the last quarter. Third Point LLC bought a new stake in shares of EQT in the 4th quarter valued at about $75,387,000. Finally, Cetera Investment Advisers purchased a new position in shares of EQT in the 1st quarter worth approximately $2,274,000. 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.