EQT (NYSE:EQT) Price Target Raised to $58.00 at Wells Fargo & Company

EQT (NYSE:EQT) had its target price increased by Wells Fargo & Company from $53.00 to $58.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the oil and gas producer’s stock.

A number of other brokerages have also weighed in on EQT. Stephens upgraded EQT from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $41.00 to $59.00 in a research report on Tuesday. Royal Bank of Canada reiterated a “sector perform” rating and set a $49.00 price objective on shares of EQT in a research note on Monday, January 6th. Piper Sandler lifted their target price on EQT from $35.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, March 6th. Citigroup lifted their price objective on EQT from $51.00 to $60.00 and gave the stock a “buy” rating in a report on Monday. Finally, The Goldman Sachs Group reaffirmed a “reduce” rating on shares of EQT in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.50.

EQT Stock Performance

Shares of EQT opened at $53.54 on Wednesday. The stock’s 50-day simple moving average is $51.07 and its 200 day simple moving average is $43.92. The stock has a market capitalization of $31.99 billion, a price-to-earnings ratio of 133.85, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70. EQT has a 52-week low of $30.02 and a 52-week high of $56.66.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.19. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.81 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. Research analysts forecast that EQT will post 3.27 EPS for the current fiscal year.

EQT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.1575 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.63 annualized dividend and a dividend yield of 1.18%. EQT’s dividend payout ratio is presently 157.50%.

Institutional Trading of EQT

Hedge funds and other institutional investors have recently made changes to their positions in the business. Truvestments Capital LLC purchased a new stake in shares of EQT during the 3rd quarter valued at $30,000. Quarry LP lifted its holdings in shares of EQT by 184.7% during the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 578 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new position in EQT in the 3rd quarter worth $36,000. Financial Avengers Inc. raised its stake in EQT by 100.8% in the 3rd quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 504 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. raised its stake in EQT by 47.7% in the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer’s stock worth $44,000 after acquiring an additional 310 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Company Profile

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.