EQT (NYSE:EQT) Given New $60.00 Price Target at BMO Capital Markets

EQT (NYSE:EQT) had its target price reduced by BMO Capital Markets from $62.00 to $60.00 in a research report report published on Monday morning,MarketScreener reports. They currently have an outperform rating on the oil and gas producer’s stock.

EQT has been the subject of several other reports. Melius Research assumed coverage on shares of EQT in a report on Wednesday, August 20th. They set a “buy” rating and a $64.00 price target for the company. Barclays upped their target price on EQT from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Piper Sandler increased their target price on EQT from $48.00 to $49.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Wells Fargo & Company boosted their price target on EQT from $59.00 to $63.00 and gave the stock an “overweight” rating in a report on Monday, June 16th. Finally, Roth Capital downgraded EQT from a “strong-buy” rating to a “neutral” rating and lowered their price objective for the company from $75.00 to $57.00 in a research note on Monday, August 18th. Fifteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $62.81.

EQT Trading Up 1.4%

EQT opened at $49.89 on Monday. The company has a market cap of $31.13 billion, a P/E ratio of 26.97, a PEG ratio of 0.40 and a beta of 0.58. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average is $52.23 and its 200-day moving average is $53.18. EQT has a 1-year low of $34.89 and a 1-year high of $61.02.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07). EQT had a return on equity of 6.24% and a net margin of 15.87%.The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the prior year, the company earned ($0.08) earnings per share. Equities research analysts predict that EQT will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 6th were given a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.3%. The ex-dividend date was Wednesday, August 6th. EQT’s dividend payout ratio is 34.05%.

Insider Activity at EQT

In other EQT news, EVP Sarah Fenton sold 12,438 shares of the company’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $51.94, for a total value of $646,029.72. Following the completion of the transaction, the executive vice president directly owned 13,297 shares in the company, valued at approximately $690,646.18. This represents a 48.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Vicky A. Bailey sold 4,259 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $51.56, for a total transaction of $219,594.04. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On EQT

Several large investors have recently modified their holdings of EQT. Nuveen LLC acquired a new stake in shares of EQT during the first quarter worth $120,252,000. Vanguard Group Inc. increased its position in shares of EQT by 2.1% during the first quarter. Vanguard Group Inc. now owns 74,039,340 shares of the oil and gas producer’s stock worth $3,955,922,000 after buying an additional 1,509,054 shares during the period. Sound Shore Management Inc CT acquired a new stake in shares of EQT during the second quarter worth $67,539,000. Ninepoint Partners LP increased its position in shares of EQT by 200.0% during the first quarter. Ninepoint Partners LP now owns 1,500,000 shares of the oil and gas producer’s stock worth $80,145,000 after buying an additional 1,000,000 shares during the period. Finally, Situational Awareness LP acquired a new stake in shares of EQT during the first quarter worth $52,864,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

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.