Bank of America Raises EQT (NYSE:EQT) Price Target to $74.00

EQT (NYSE:EQTGet Rating) had its price target increased by Bank of America from $72.00 to $74.00 in a research note published on Monday morning, MarketBeat reports. The firm currently has a buy rating on the oil and gas producer’s stock.

Several other brokerages also recently commented on EQT. Citigroup restated a buy rating and set a $48.00 target price on shares of EQT in a report on Thursday, July 21st. Wells Fargo & Company lifted their price objective on shares of EQT from $51.00 to $62.00 and gave the stock an overweight rating in a research report on Monday, July 11th. BMO Capital Markets raised EQT from a market perform rating to an outperform rating and lifted their target price for the stock from $50.00 to $65.00 in a report on Monday. Piper Sandler boosted their price target on EQT from $58.00 to $59.00 and gave the company an overweight rating in a research note on Friday, July 22nd. Finally, Credit Suisse Group boosted their price target on EQT from $50.00 to $52.00 and gave the company an outperform rating in a research note on Thursday, July 28th. One research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $55.88.

EQT Trading Up 2.8 %

Shares of EQT stock opened at $47.34 on Monday. The firm has a fifty day moving average of $44.87 and a 200-day moving average of $40.43. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.57 and a current ratio of 0.57. EQT has a 52-week low of $17.95 and a 52-week high of $51.97. The stock has a market cap of $17.51 billion, a price-to-earnings ratio of -17.40, a P/E/G ratio of 0.20 and a beta of 1.15.

EQT (NYSE:EQTGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The oil and gas producer reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.02. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the prior year, the company earned $0.07 EPS. The firm’s revenue was up 61.7% compared to the same quarter last year. On average, equities research analysts forecast that EQT will post 4.02 earnings per share for the current fiscal year.

EQT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Tuesday, August 9th were paid a dividend of $0.15 per share. This is a boost from EQT’s previous quarterly dividend of $0.13. The ex-dividend date was Monday, August 8th. This represents a $0.60 dividend on an annualized basis and a yield of 1.27%. EQT’s payout ratio is presently -22.06%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Counterpoint Mutual Funds LLC bought a new stake in EQT during the first quarter valued at about $25,000. Steward Partners Investment Advisory LLC bought a new position in EQT in the first quarter worth approximately $31,000. Kathleen S. Wright Associates Inc. bought a new position in EQT in the second quarter worth approximately $32,000. Exchange Traded Concepts LLC bought a new stake in EQT during the 1st quarter valued at $41,000. Finally, First Command Bank bought a new stake in EQT during the 2nd quarter valued at $46,000. Hedge funds and other institutional investors own 95.63% of the company’s stock.

EQT Company Profile

(Get Rating)

EQT Corporation operates as a natural gas production company in the United States. The company produces natural gas, natural gas liquids (NGLs), including ethane, propane, isobutane, butane, and natural gasoline. As of December 31, 2021, it had 25.0 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 2.0 million gross acres, including 1.7 million gross acres in the Marcellus play.

Featured Stories

Analyst Recommendations for EQT (NYSE:EQT)

Receive News & Ratings for EQT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQT and related companies with MarketBeat.com's FREE daily email newsletter.