EQT (NYSE:EQT) Price Target Raised to $52.00 at Wells Fargo & Company

EQT (NYSE:EQT) had its price objective lifted by Wells Fargo & Company from $42.00 to $52.00 in a research report released on Monday,Benzinga reports. The brokerage currently has an overweight rating on the oil and gas producer’s stock.

A number of other analysts also recently issued reports on the stock. Morgan Stanley raised their price objective on shares of EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday. Piper Sandler upped their price objective on EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. BMO Capital Markets increased their price objective on EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Mizuho boosted their target price on EQT from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Finally, Citigroup upgraded EQT from a “neutral” rating to a “buy” rating and increased their price target for the stock from $37.00 to $44.00 in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $44.00.

EQT Price Performance

Shares of NYSE EQT opened at $45.95 on Monday. The company has a market capitalization of $27.42 billion, a PE ratio of 54.70 and a beta of 1.06. 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’s 50 day moving average price is $38.45 and its 200-day moving average price is $37.00. EQT has a twelve month low of $30.02 and a twelve month high of $48.02.

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

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th will be given a dividend of $0.1575 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.37%. EQT’s dividend payout ratio (DPR) is presently 75.00%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Synovus Financial Corp purchased a new position in EQT in the 3rd quarter worth approximately $1,069,000. Tidal Investments LLC grew its position in EQT by 55.8% in the third quarter. Tidal Investments LLC now owns 60,816 shares of the oil and gas producer’s stock worth $2,228,000 after acquiring an additional 21,789 shares in the last quarter. Blankinship & Foster LLC bought a new position in EQT in the third quarter valued at $4,051,000. Wilmington Savings Fund Society FSB purchased a new stake in EQT during the third quarter valued at about $165,000. Finally, Sanctuary Advisors LLC lifted its stake in EQT by 104.7% during the third quarter. Sanctuary Advisors LLC now owns 63,507 shares of the oil and gas producer’s stock worth $2,327,000 after purchasing an additional 32,484 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors.

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.