EQT (NYSE:EQT) Price Target Raised to $70.00 at Evercore

EQT (NYSE:EQT) had its price objective lifted by Evercore from $60.00 to $70.00 in a research report released on Monday,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. Jefferies Financial Group reiterated a “buy” rating on shares of EQT in a research report on Sunday, January 18th. Weiss Ratings reiterated a “buy (b-)” rating on shares of EQT in a research report on Monday, December 29th. Mizuho boosted their price objective on EQT from $60.00 to $68.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. TD Securities upgraded EQT to a “strong-buy” rating in a research report on Friday, February 20th. Finally, Citigroup decreased their price objective on EQT from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, December 19th. Three research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $68.38.

EQT Price Performance

Shares of EQT opened at $60.39 on Monday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a 50 day simple moving average of $60.55 and a 200 day simple moving average of $57.09. EQT has a 52-week low of $44.55 and a 52-week high of $68.24. The firm has a market capitalization of $37.74 billion, a PE ratio of 18.25, a P/E/G ratio of 1.14 and a beta of 0.70.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, February 17th. The oil and gas producer reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.14. EQT had a return on equity of 7.25% and a net margin of 23.59%.The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the firm earned $0.69 EPS. EQT’s quarterly revenue was up 24.8% compared to the same quarter last year. Sell-side analysts predict that EQT will post 3.27 EPS for the current fiscal year.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Tuesday, February 17th were paid a $0.165 dividend. The ex-dividend date was Tuesday, February 17th. This represents a $0.66 annualized dividend and a yield of 1.1%. EQT’s payout ratio is presently 19.94%.

Insider Buying and Selling at EQT

In other EQT news, CAO Todd James sold 32,514 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $61.12, for a total value of $1,987,255.68. Following the sale, the chief accounting officer owned 58,796 shares in the company, valued at approximately $3,593,611.52. The trade was a 35.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Lesley Evancho sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $60.69, for a total value of $1,213,800.00. Following the completion of the sale, the insider owned 184,607 shares in the company, valued at $11,203,798.83. The trade was a 9.77% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 61,158 shares of company stock worth $3,742,983. Corporate insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On EQT

A number of institutional investors and hedge funds have recently made changes to their positions in EQT. Caxton Associates LLP bought a new stake in shares of EQT during the 1st quarter worth approximately $256,000. Focus Partners Wealth raised its stake in shares of EQT by 9.0% during the 1st quarter. Focus Partners Wealth now owns 21,637 shares of the oil and gas producer’s stock worth $1,156,000 after purchasing an additional 1,789 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of EQT by 302.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,709 shares of the oil and gas producer’s stock worth $391,000 after purchasing an additional 5,042 shares in the last quarter. Baird Financial Group Inc. raised its stake in shares of EQT by 20.1% during the 2nd quarter. Baird Financial Group Inc. now owns 106,473 shares of the oil and gas producer’s stock worth $6,210,000 after purchasing an additional 17,839 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of EQT by 495.2% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 128,060 shares of the oil and gas producer’s stock worth $7,468,000 after purchasing an additional 106,545 shares in the last quarter. Institutional investors own 90.81% of the company’s stock.

About EQT

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.