EQT Co. (NYSE:EQT) Receives $49.59 Average Price Target from Analysts

Shares of EQT Co. (NYSE:EQT) have been given a consensus recommendation of “Moderate Buy” by the eighteen brokerages that are covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $49.59.

EQT has been the topic of a number of research analyst reports. UBS Group increased their target price on EQT from $39.00 to $51.00 and gave the company a “neutral” rating in a research note on Thursday, August 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $48.00 target price on shares of EQT in a research note on Wednesday, August 23rd. Mizuho upped their target price on EQT from $48.00 to $52.00 in a research note on Friday, May 19th. StockNews.com initiated coverage on EQT in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Tudor, Pickering, Holt & Co. raised EQT from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th.

EQT Price Performance

Shares of NYSE:EQT opened at $42.74 on Friday. The company has a 50 day moving average of $41.16 and a 200 day moving average of $36.18. The stock has a market cap of $15.46 billion, a P/E ratio of 4.81, a P/E/G ratio of 1.01 and a beta of 1.22. EQT has a 12 month low of $28.10 and a 12 month high of $51.97. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, July 25th. The oil and gas producer reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.09. The company had revenue of $993.08 million during the quarter, compared to analyst estimates of $1.01 billion. EQT had a return on equity of 10.61% and a net margin of 38.44%. The firm’s quarterly revenue was down 38.4% on a year-over-year basis. During the same quarter last year, the company earned $0.83 earnings per share. As a group, sell-side analysts forecast that EQT will post 2.16 EPS for the current fiscal year.

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Wednesday, August 9th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Tuesday, August 8th. EQT’s payout ratio is 6.75%.

Insider Buying and Selling at EQT

In other news, CAO Todd James sold 31,170 shares of EQT stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $38.56, for a total value of $1,201,915.20. Following the sale, the chief accounting officer now directly owns 39,392 shares in the company, valued at approximately $1,518,955.52. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.53% of the company’s stock.

Institutional Trading of EQT

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC grew its position in shares of EQT by 1.2% in the 2nd quarter. Parallel Advisors LLC now owns 21,306 shares of the oil and gas producer’s stock worth $876,000 after buying an additional 261 shares during the period. Quadrant Capital Group LLC raised its position in shares of EQT by 6.4% in the 2nd quarter. Quadrant Capital Group LLC now owns 4,692 shares of the oil and gas producer’s stock worth $193,000 after purchasing an additional 283 shares during the last quarter. Montchanin Asset Management LLC raised its position in shares of EQT by 2.1% in the 2nd quarter. Montchanin Asset Management LLC now owns 14,500 shares of the oil and gas producer’s stock worth $596,000 after purchasing an additional 300 shares during the last quarter. NEIRG Wealth Management LLC raised its position in shares of EQT by 1.3% in the 1st quarter. NEIRG Wealth Management LLC now owns 26,537 shares of the oil and gas producer’s stock worth $847,000 after purchasing an additional 333 shares during the last quarter. Finally, Resonant Capital Advisors LLC raised its position in shares of EQT by 1.1% in the 2nd quarter. Resonant Capital Advisors LLC now owns 31,405 shares of the oil and gas producer’s stock worth $1,292,000 after purchasing an additional 345 shares during the last quarter. 99.44% of the stock is currently owned by hedge funds and other institutional investors.

About EQT

EQT Corporation operates as a natural gas production company in the United States. As of December 31, 2022, it had 25.0 trillion cubic feet of proved natural gas, natural gas liquids, and crude oil reserves across approximately 2.0 million gross acres, including 1.8 million gross acres in the Marcellus play.