EQT (NYSE:EQT) Hits New 12-Month High Following Analyst Upgrade

EQT Co. (NYSE:EQT) shares reached a new 52-week high during trading on Monday after Wells Fargo & Company raised their price target on the stock from $59.00 to $63.00. Wells Fargo & Company currently has an overweight rating on the stock. EQT traded as high as $58.75 and last traded at $58.28, with a volume of 1821972 shares trading hands. The stock had previously closed at $56.84.

A number of other equities analysts have also weighed in on EQT. Citigroup upped their target price on shares of EQT from $51.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, March 17th. Wall Street Zen lowered shares of EQT from a “hold” rating to a “sell” rating in a research note on Monday, April 7th. Morgan Stanley upped their target price on shares of EQT from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Mizuho upped their target price on shares of EQT from $57.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 1st. Finally, JPMorgan Chase & Co. upped their target price on shares of EQT from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $57.39.

Hedge Funds Weigh In On EQT

Large investors have recently modified their holdings of the business. Parkside Financial Bank & Trust boosted its position in shares of EQT by 22.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock worth $48,000 after acquiring an additional 193 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of EQT by 14.1% during the 1st quarter. Larson Financial Group LLC now owns 1,582 shares of the oil and gas producer’s stock worth $85,000 after acquiring an additional 196 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of EQT by 26.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock worth $45,000 after acquiring an additional 205 shares in the last quarter. Fidelis Capital Partners LLC boosted its position in shares of EQT by 2.6% during the 1st quarter. Fidelis Capital Partners LLC now owns 8,281 shares of the oil and gas producer’s stock worth $416,000 after acquiring an additional 207 shares in the last quarter. Finally, Generali Investments Management Co LLC boosted its position in shares of EQT by 14.1% during the 1st quarter. Generali Investments Management Co LLC now owns 1,711 shares of the oil and gas producer’s stock worth $91,000 after acquiring an additional 211 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

EQT Price Performance

The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37. The firm has a market cap of $34.82 billion, a price-to-earnings ratio of 145.43, a price-to-earnings-growth ratio of 0.64 and a beta of 0.65. The company’s 50-day moving average is $53.35 and its 200-day moving average is $50.76.

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

EQT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th were given a $0.1575 dividend. The ex-dividend date of this dividend was Wednesday, May 7th. This represents a $0.63 dividend on an annualized basis and a yield of 1.08%. EQT’s dividend payout ratio is currently 110.53%.

EQT Company Profile

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.