EQT (NYSE:EQT) Sets New 1-Year High – Here’s What Happened

Shares of EQT Co. (NYSE:EQT) hit a new 52-week high on Monday . The company traded as high as $44.61 and last traded at $44.58, with a volume of 1882033 shares. The stock had previously closed at $42.71.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Stephens upped their price objective on shares of EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on shares of EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. Bank of America began coverage on shares of EQT in a report on Monday, October 28th. They set a “buy” rating and a $50.00 price objective on the stock. Mizuho raised their target price on EQT from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Finally, Citigroup upgraded EQT from a “neutral” rating to a “buy” rating and boosted their price target for the company from $37.00 to $44.00 in a research note on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, EQT has a consensus rating of “Moderate Buy” and a consensus target price of $42.83.

EQT Stock Up 3.7 %

The company has a market cap of $26.42 billion, a PE ratio of 50.85 and a beta of 1.06. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. The business has a 50-day simple moving average of $36.91 and a 200-day simple moving average of $36.77.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the prior year, the business posted $0.30 earnings per share. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. Equities research analysts anticipate that EQT Co. will post 1.28 EPS for the current year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 6th will be paid a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Wednesday, November 6th. EQT’s dividend payout ratio is presently 75.00%.

Institutional Investors Weigh In On EQT

Several large investors have recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in shares of EQT by 38.7% in the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock worth $2,716,968,000 after acquiring an additional 20,700,921 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in EQT by 22.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock worth $2,405,007,000 after purchasing an additional 11,993,729 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of EQT by 8.4% during the first quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock worth $1,885,590,000 after buying an additional 3,942,802 shares in the last quarter. State Street Corp raised its position in shares of EQT by 24.5% in the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock valued at $1,359,183,000 after buying an additional 7,290,822 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of EQT by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer’s stock worth $752,487,000 after buying an additional 464,781 shares in the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

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.