EQT (NYSE:EQT) Price Target Cut to $36.00 by Analysts at UBS Group

EQT (NYSE:EQT) had its target price lowered by UBS Group from $38.00 to $36.00 in a research note published on Wednesday morning, Benzinga reports. UBS Group currently has a neutral rating on the oil and gas producer’s stock.

EQT has been the subject of a number of other reports. Stephens decreased their price objective on EQT from $47.00 to $46.00 and set an equal weight rating for the company in a research note on Wednesday, July 24th. Mizuho lowered their price target on EQT from $45.00 to $43.00 and set a neutral rating for the company in a research note on Monday. Citigroup reissued a neutral rating and set a $37.00 price objective on shares of EQT in a research note on Friday, August 23rd. Morgan Stanley reaffirmed an overweight rating and issued a $45.00 target price on shares of EQT in a research note on Friday, September 13th. Finally, Wolfe Research initiated coverage on shares of EQT in a research report on Thursday, July 18th. They set an outperform rating and a $51.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $43.28.

EQT Stock Performance

EQT stock opened at $33.53 on Wednesday. EQT has a 1 year low of $30.02 and a 1 year high of $45.23. The company’s 50-day moving average is $33.38 and its two-hundred day moving average is $36.48. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33. The company has a market cap of $14.81 billion, a PE ratio of 24.30 and a beta of 1.06.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share for the quarter, beating 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 business had revenue of $952.51 million for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the business posted ($0.17) earnings per share. EQT’s revenue was down 6.5% compared to the same quarter last year. Equities analysts anticipate that EQT will post 1.44 earnings per share for the current year.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a dividend of $0.1575 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.63 annualized dividend and a dividend yield of 1.88%. EQT’s dividend payout ratio is currently 45.65%.

Institutional Trading of EQT

A number of institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its stake in EQT by 22.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock valued at $2,405,007,000 after buying an additional 11,993,729 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of EQT by 27.9% in the first quarter. Bank of New York Mellon Corp now owns 19,883,694 shares of the oil and gas producer’s stock valued at $737,089,000 after acquiring an additional 4,339,407 shares during the last quarter. Vanguard Group Inc. raised its holdings in 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 acquiring an additional 3,942,802 shares in the last quarter. Third Point LLC acquired a new position in EQT during the fourth quarter valued at approximately $75,387,000. Finally, Merewether Investment Management LP bought a new position in EQT in the second quarter valued at approximately $69,452,000. 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.