EQT (NYSE:EQT) Price Target Lowered to $67.00 at Barclays

EQT (NYSE:EQT) had its price target lowered by Barclays from $68.00 to $67.00 in a research note issued to investors on Tuesday, MarketBeat Ratings reports. Barclays currently has an overweight rating on the oil and gas producer’s stock.

EQT has been the topic of a number of other research reports. Royal Bank Of Canada raised their price target on shares of EQT from $60.00 to $62.00 and gave the stock a “sector perform” rating in a report on Tuesday. UBS Group raised their target price on shares of EQT from $64.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Citigroup raised their target price on shares of EQT from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. Piper Sandler raised their target price on shares of EQT from $48.00 to $49.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of EQT in a research report on Tuesday, July 15th. Fifteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $63.00.

EQT Price Performance

Shares of EQT stock opened at $57.12 on Tuesday. The firm has a market cap of $35.64 billion, a PE ratio of 30.87, a price-to-earnings-growth ratio of 0.47 and a beta of 0.50. EQT has a 12-month low of $35.44 and a 12-month high of $61.02. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.32. The company’s fifty day simple moving average is $52.16 and its two-hundred day simple moving average is $53.46.

EQT (NYSE:EQT) last announced its quarterly earnings results 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). The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.78 billion. EQT had a return on equity of 6.24% and a net margin of 15.87%.During the same period last year, the business earned ($0.08) EPS. As a group, equities analysts expect that EQT will post 3.27 EPS for the current year.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 6th were issued a $0.1575 dividend. The ex-dividend date of this dividend was Wednesday, August 6th. This represents a $0.63 annualized dividend and a yield of 1.1%. EQT’s payout ratio is 34.05%.

Insider Activity

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

Institutional Trading of EQT

Large investors have recently made changes to their positions in the stock. Anchor Investment Management LLC grew its position in EQT by 133.3% during the second quarter. Anchor Investment Management LLC now owns 875 shares of the oil and gas producer’s stock valued at $51,000 after buying an additional 500 shares during the period. Captrust Financial Advisors grew its position in EQT by 39.4% during the second quarter. Captrust Financial Advisors now owns 30,617 shares of the oil and gas producer’s stock valued at $1,786,000 after buying an additional 8,658 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its position in EQT by 495.2% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 128,060 shares of the oil and gas producer’s stock valued at $7,468,000 after buying an additional 106,545 shares during the period. Baird Financial Group Inc. grew its position in EQT by 20.1% during the second quarter. Baird Financial Group Inc. now owns 106,473 shares of the oil and gas producer’s stock valued at $6,210,000 after buying an additional 17,839 shares during the period. Finally, Crescent Grove Advisors LLC bought a new stake in EQT during the second quarter valued at approximately $273,000. 90.81% of the stock is currently owned by institutional investors.

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.