EQT’s (EQT) Sector Perform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of EQT (NYSE:EQT) in a report released on Monday morning,Benzinga reports. They currently have a $49.00 target price on the oil and gas producer’s stock.

Other analysts have also issued research reports about the company. Wells Fargo & Company increased their price objective on EQT from $42.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Truist Financial raised their price target on shares of EQT from $32.00 to $41.00 and gave the stock a “hold” rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. increased their target price on shares of EQT from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday. StockNews.com upgraded EQT to a “sell” rating in a report on Monday, December 30th. Finally, Mizuho upgraded EQT from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $48.00 to $57.00 in a report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $47.78.

EQT Price Performance

Shares of NYSE:EQT opened at $47.56 on Monday. 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 stock has a market cap of $28.38 billion, a PE ratio of 56.62 and a beta of 1.12. The company’s fifty day moving average is $43.42 and its 200 day moving average is $37.89. EQT has a 52 week low of $30.02 and a 52 week high of $48.33.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, topping the consensus estimate of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the previous year, the business earned $0.30 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. Research analysts anticipate that EQT will post 1.37 earnings per share for the current year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Wednesday, November 6th were given a dividend of $0.1575 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.63 dividend on an annualized basis and a yield of 1.32%. EQT’s dividend payout ratio (DPR) is currently 75.00%.

Insider Buying and Selling

In other EQT news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the transaction, the director now owns 201,608 shares in the company, valued at approximately $9,038,086.64. The trade was a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.63% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EQT

Several institutional investors and hedge funds have recently modified their holdings of the stock. Davis Investment Partners LLC grew its position in EQT by 1.0% during the 3rd quarter. Davis Investment Partners LLC now owns 30,908 shares of the oil and gas producer’s stock valued at $1,137,000 after purchasing an additional 317 shares during the last quarter. J.W. Cole Advisors Inc. lifted its stake in shares of EQT by 7.4% in the third quarter. J.W. Cole Advisors Inc. now owns 6,121 shares of the oil and gas producer’s stock worth $224,000 after buying an additional 421 shares in the last quarter. Ballentine Partners LLC increased its position in shares of EQT by 8.4% during the second quarter. Ballentine Partners LLC now owns 6,291 shares of the oil and gas producer’s stock valued at $233,000 after acquiring an additional 486 shares in the last quarter. Financial Avengers Inc. raised its holdings 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, Quarry LP lifted its position in EQT by 184.7% in the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 578 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors.

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.