EQT (NYSE:EQT) Price Target Raised to $62.00 at Royal Bank Of Canada

EQT (NYSE:EQT) had its price objective raised by Royal Bank Of Canada from $60.00 to $62.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a sector perform rating on the oil and gas producer’s stock.

A number of other equities analysts have also issued reports on EQT. Barclays increased their price objective on EQT from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Roth Capital lowered EQT from a “strong-buy” rating to a “neutral” rating and decreased their price objective for the stock from $75.00 to $57.00 in a report on Monday, August 18th. Melius assumed coverage on EQT in a research report on Wednesday, August 20th. They issued a “buy” rating and a $64.00 target price for the company. Morgan Stanley restated an “overweight” rating on shares of EQT in a research report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. cut their target price on EQT from $64.00 to $62.00 and set an “overweight” rating for the company in a research report on Tuesday, September 30th. Fifteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $63.00.

EQT Stock Performance

Shares of EQT stock opened at $57.12 on Tuesday. EQT has a 12-month low of $35.44 and a 12-month high of $61.02. The firm has a market capitalization of $35.64 billion, a price-to-earnings ratio of 30.87, a price-to-earnings-growth ratio of 0.47 and a beta of 0.50. The business has a 50 day simple moving average of $52.16 and a 200 day simple moving average of $53.46. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.71 and a quick ratio of 0.71.

EQT (NYSE:EQT) last issued 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 business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period last year, the company earned ($0.08) earnings per share. On average, equities research analysts anticipate that EQT will post 3.27 EPS for the current year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 6th were given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Wednesday, August 6th. EQT’s dividend payout ratio is 34.05%.

Insiders Place Their Bets

In other news, EVP Sarah Fenton sold 12,438 shares of the stock in a transaction 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 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Vicky A. Bailey sold 4,259 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $51.56, for a total value of $219,594.04. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EQT

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of EQT by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 74,039,340 shares of the oil and gas producer’s stock valued at $3,955,922,000 after acquiring an additional 1,509,054 shares during the last quarter. Northern Trust Corp lifted its position in shares of EQT by 2.0% during the 1st quarter. Northern Trust Corp now owns 5,692,985 shares of the oil and gas producer’s stock valued at $304,176,000 after acquiring an additional 113,716 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of EQT by 2.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,204,106 shares of the oil and gas producer’s stock valued at $278,055,000 after acquiring an additional 110,249 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of EQT by 10.3% in the first quarter. Neuberger Berman Group LLC now owns 5,191,780 shares of the oil and gas producer’s stock valued at $277,397,000 after purchasing an additional 484,671 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of EQT by 7.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,658,814 shares of the oil and gas producer’s stock valued at $251,017,000 after purchasing an additional 311,154 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

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.