Scotiabank started coverage on shares of EQT (NYSE:EQT – Get Rating) in a report released on Wednesday. The brokerage issued an outperform rating and a $54.00 price objective on the oil and gas producer’s stock.
Several other brokerages also recently commented on EQT. Mizuho reduced their target price on EQT from $65.00 to $55.00 and set a buy rating for the company in a research note on Tuesday, July 19th. TD Securities raised their price objective on shares of EQT from $47.00 to $49.00 and gave the company a buy rating in a report on Friday, April 29th. Piper Sandler raised their target price on shares of EQT from $58.00 to $59.00 and gave the stock an overweight rating in a research note on Friday, July 22nd. Wells Fargo & Company increased their price target on shares of EQT from $51.00 to $62.00 and gave the company an overweight rating in a report on Monday, July 11th. Finally, Citigroup restated a buy rating and set a $48.00 price objective on shares of EQT in a report on Thursday, July 21st. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, EQT currently has an average rating of Moderate Buy and an average price target of $52.83.
EQT Stock Up 2.5 %
Shares of EQT stock opened at $42.28 on Wednesday. The firm’s fifty day moving average price is $40.54 and its two hundred day moving average price is $34.78. EQT has a 1 year low of $15.71 and a 1 year high of $50.41. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $15.64 billion, a P/E ratio of -15.54, a PEG ratio of 0.23 and a beta of 1.19.
EQT (NYSE:EQT – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The oil and gas producer reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.32. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the company earned $0.07 EPS. The company’s revenue for the quarter was up 61.7% on a year-over-year basis. On average, equities analysts predict that EQT will post 3.72 EPS for the current fiscal year.
EQT Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Tuesday, August 9th will be given a dividend of $0.15 per share. This is a boost from EQT’s previous quarterly dividend of $0.13. The ex-dividend date is Monday, August 8th. This represents a $0.60 annualized dividend and a yield of 1.42%. EQT’s dividend payout ratio is currently -18.38%.
Hedge Funds Weigh In On EQT
Several hedge funds have recently bought and sold shares of EQT. Counterpoint Mutual Funds LLC bought a new position in EQT in the first quarter valued at approximately $25,000. Steward Partners Investment Advisory LLC bought a new position in shares of EQT in the 1st quarter valued at $31,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of EQT during the 2nd quarter worth $32,000. Exchange Traded Concepts LLC bought a new stake in shares of EQT during the 1st quarter worth $41,000. Finally, MV Capital Management Inc. acquired a new stake in EQT in the fourth quarter valued at about $26,000. 90.34% of the stock is owned by institutional investors.
EQT Corporation operates as a natural gas production company in the United States. The company produces natural gas, natural gas liquids (NGLs), including ethane, propane, isobutane, butane, and natural gasoline. As of December 31, 2021, it had 25.0 trillion cubic feet of proven natural gas, NGLs, and crude oil reserves across approximately 2.0 million gross acres, including 1.7 million gross acres in the Marcellus play.
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