EQT (NYSE:EQT) PT Lowered to $36.00 at UBS Group

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

Several other research firms have also recently weighed in on EQT. Mizuho lowered their price target on shares of EQT from $45.00 to $43.00 and set a neutral rating on the stock in a report on Monday. Jefferies Financial Group lifted their price target on EQT from $43.00 to $48.00 and gave the stock a buy rating in a report on Tuesday, June 4th. Scotiabank upped their price objective on EQT from $54.00 to $55.00 and gave the company a sector outperform rating in a report on Friday, July 12th. Piper Sandler cut EQT from an overweight rating to a neutral rating and lowered their price objective for the stock from $43.00 to $32.00 in a research report on Thursday, August 15th. Finally, Wells Fargo & Company raised shares of EQT from an equal weight rating to an overweight rating and boosted their target price for the company from $40.00 to $42.00 in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $43.28.

EQT Trading Up 0.8 %

EQT stock opened at $33.53 on Wednesday. EQT has a 52 week low of $30.02 and a 52 week high of $45.23. The stock has a market capitalization of $14.81 billion, a P/E ratio of 24.30 and a beta of 1.06. The stock has a 50-day simple moving average of $33.38 and a 200 day simple moving average of $36.48. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.73 and a current ratio of 0.73.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, July 23rd. The oil and gas producer reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.12. The firm had revenue of $952.51 million during the quarter, compared to analysts’ expectations of $1.06 billion. EQT had a net margin of 12.45% and a return on equity of 4.52%. The company’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.17) earnings per share. Analysts expect that EQT will post 1.44 earnings per share for the current year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were issued a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Wednesday, August 7th. EQT’s dividend payout ratio is presently 45.65%.

Institutional Trading of EQT

Several institutional investors and hedge funds have recently modified their holdings of EQT. Price T Rowe Associates Inc. MD raised its stake in 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 worth $2,405,007,000 after acquiring an additional 11,993,729 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of EQT by 27.9% during the 1st 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 purchasing an additional 4,339,407 shares during the last quarter. Vanguard Group Inc. increased its position in EQT by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock worth $1,885,590,000 after purchasing an additional 3,942,802 shares in the last quarter. Third Point LLC bought a new position in EQT in the 4th quarter valued at approximately $75,387,000. Finally, Merewether Investment Management LP acquired a new stake in EQT in the second quarter valued at approximately $69,452,000. 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.