EQT Co. (NYSE:EQT) Receives $42.83 Consensus Target Price from Analysts

EQT Co. (NYSE:EQT) has received an average rating of “Moderate Buy” from the eighteen research firms that are currently covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $42.83.

Several research analysts have recently issued reports on the company. Mizuho increased their target price on EQT from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Wells Fargo & Company raised EQT from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $40.00 to $42.00 in a research report on Wednesday, August 14th. Stephens raised their price objective on EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Morgan Stanley reiterated an “overweight” rating and set a $45.00 target price on shares of EQT in a research note on Friday, September 13th. Finally, Bank of America started coverage on EQT in a research note on Monday, October 28th. They issued a “buy” rating and a $50.00 price target on the stock.

Institutional Investors Weigh In On EQT

Several large investors have recently added to or reduced their stakes in EQT. Wellington Management Group LLP boosted its position in shares of EQT by 38.7% during the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock valued at $2,716,968,000 after buying an additional 20,700,921 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of EQT by 22.7% during the first 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 period. Vanguard Group Inc. boosted its position in shares of 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 valued at $1,885,590,000 after buying an additional 3,942,802 shares during the period. State Street Corp boosted its position in shares of EQT by 24.5% during the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock valued at $1,359,183,000 after buying an additional 7,290,822 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of EQT by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer’s stock valued at $752,487,000 after buying an additional 464,781 shares during the period. 90.81% of the stock is owned by institutional investors.

EQT Trading Up 0.7 %

NYSE EQT opened at $46.89 on Tuesday. EQT has a fifty-two week low of $30.02 and a fifty-two week high of $48.02. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a 50 day simple moving average of $37.67 and a two-hundred day simple moving average of $36.90. The stock has a market cap of $27.98 billion, a P/E ratio of 55.82 and a beta of 1.06.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (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 during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the prior year, the company earned $0.30 EPS. The business’s revenue was up 8.2% compared to the same quarter last year. On average, analysts forecast that EQT will post 1.35 earnings per share for the current year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th will be paid a dividend of $0.1575 per share. The ex-dividend date is Wednesday, November 6th. This represents a $0.63 annualized dividend and a yield of 1.34%. EQT’s payout ratio is currently 75.00%.

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.