EQT (NYSE:EQT) Upgraded to “Overweight” at Stephens

Stephens upgraded shares of EQT (NYSE:EQT) from an equal weight rating to an overweight rating in a research report report published on Tuesday morning, Marketbeat.com reports. The brokerage currently has $59.00 price objective on the oil and gas producer’s stock, up from their previous price objective of $41.00.

A number of other equities research analysts have also commented on EQT. StockNews.com upgraded EQT from a “sell” rating to a “hold” rating in a research report on Friday, March 14th. The Goldman Sachs Group reiterated a “reduce” rating on shares of EQT in a research report on Wednesday, February 12th. Mizuho upgraded EQT from a “neutral” rating to an “outperform” rating and upped their price target for the company from $48.00 to $57.00 in a research report on Monday, December 16th. Morgan Stanley upped their price target on EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Finally, Piper Sandler upped their target price on EQT from $35.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, EQT currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.22.

EQT Price Performance

Shares of EQT opened at $52.55 on Tuesday. EQT has a 12-month low of $30.02 and a 12-month high of $56.66. The business has a 50-day simple moving average of $50.98 and a two-hundred day simple moving average of $43.85. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. The stock has a market cap of $31.40 billion, a PE ratio of 131.38, a PEG ratio of 0.64 and a beta of 1.12.

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

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were paid a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Tuesday, February 18th. EQT’s dividend payout ratio (DPR) is currently 157.50%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in EQT. Wellington Management Group LLP raised 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 purchasing an additional 20,700,921 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of EQT by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 72,530,286 shares of the oil and gas producer’s stock worth $3,344,371,000 after purchasing an additional 358,649 shares during the last quarter. State Street Corp raised its stake 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 worth $1,359,183,000 after purchasing an additional 7,290,822 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of EQT by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 14,427,307 shares of the oil and gas producer’s stock worth $663,552,000 after purchasing an additional 429,733 shares during the last quarter. Finally, Capital International Investors raised its stake in shares of EQT by 21.3% in the fourth quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer’s stock worth $638,867,000 after purchasing an additional 2,433,632 shares during the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

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.