EQT (NYSE:EQT) Upgraded to Buy at UBS Group

UBS Group upgraded shares of EQT (NYSE:EQT) from a neutral rating to a buy rating in a research report released on Monday morning, Marketbeat reports. The firm currently has $64.00 price objective on the oil and gas producer’s stock, up from their previous price objective of $54.00.

A number of other research analysts also recently issued reports on the company. Truist Financial upped their price target on EQT from $41.00 to $56.00 and gave the company a “hold” rating in a report on Monday, January 13th. Sanford C. Bernstein raised EQT from a “market perform” rating to an “outperform” rating and set a $73.00 target price on the stock in a report on Wednesday, January 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $49.00 price objective on shares of EQT in a research report on Monday, January 6th. Mizuho increased their price target on EQT from $57.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 1st. Finally, Wells Fargo & Company boosted their target price on shares of EQT from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, March 19th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, EQT presently has a consensus rating of “Moderate Buy” and an average price target of $55.94.

EQT Stock Performance

EQT stock opened at $53.50 on Monday. The stock’s 50 day moving average is $50.36 and its 200 day moving average is $47.77. The company has a market capitalization of $32.03 billion, a P/E ratio of 133.75, a PEG ratio of 0.64 and a beta of 1.35. EQT has a twelve month low of $30.02 and a twelve month high of $56.66. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.20. The firm had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.16 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. On average, equities research analysts predict that EQT will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th will be paid a dividend of $0.1575 per share. The ex-dividend date of this dividend is Wednesday, May 7th. This represents a $0.63 annualized dividend and a yield of 1.18%. EQT’s payout ratio is presently 110.53%.

Institutional Investors Weigh In On EQT

A number of institutional investors and hedge funds have recently modified their holdings of EQT. Retirement Systems of Alabama lifted its stake in EQT by 36.7% during the 3rd quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer’s stock valued at $4,878,000 after acquiring an additional 35,733 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of EQT by 44.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,555 shares of the oil and gas producer’s stock worth $2,379,000 after purchasing an additional 16,416 shares during the last quarter. D.A. Davidson & CO. lifted its position in EQT by 13.4% during the fourth quarter. D.A. Davidson & CO. now owns 6,467 shares of the oil and gas producer’s stock valued at $298,000 after purchasing an additional 762 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in EQT by 15.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 41,508 shares of the oil and gas producer’s stock valued at $1,914,000 after purchasing an additional 5,489 shares during the last quarter. Finally, Howard Financial Services LTD. acquired a new stake in EQT during the 4th quarter worth about $223,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

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.