EQT (NYSE:EQT) Given New $69.00 Price Target at Wolfe Research

EQT (NYSE:EQT) had its price objective upped by Wolfe Research from $64.00 to $69.00 in a report released on Monday,MarketScreener reports. Wolfe Research currently has an outperform rating on the oil and gas producer’s stock.

Several other analysts have also weighed in on the company. Citigroup reduced their price objective on EQT from $63.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, December 19th. Morgan Stanley raised their price objective on EQT from $69.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, March 27th. Siebert Williams Shank raised their price objective on EQT from $59.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, January 26th. Wells Fargo & Company raised their price objective on EQT from $66.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, February 20th. Finally, UBS Group dropped their target price on EQT from $76.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $68.38.

EQT Stock Performance

NYSE:EQT opened at $60.39 on Monday. The stock’s 50-day simple moving average is $60.55 and its 200 day simple moving average is $57.09. The firm has a market capitalization of $37.74 billion, a PE ratio of 18.25, a price-to-earnings-growth ratio of 1.14 and a beta of 0.70. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.27. EQT has a twelve month low of $44.55 and a twelve month high of $68.24.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, February 17th. The oil and gas producer reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.14. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.13 billion. EQT had a return on equity of 7.25% and a net margin of 23.59%.EQT’s revenue was up 24.8% compared to the same quarter last year. During the same period last year, the firm posted $0.69 earnings per share. On average, analysts anticipate 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 given 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 dividend payout ratio (DPR) is currently 19.94%.

Insider Buying and Selling at EQT

In other EQT news, CAO Todd James sold 32,514 shares of the stock in a transaction dated 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 completion of the transaction, the chief accounting officer directly owned 58,796 shares in the company, valued at approximately $3,593,611.52. This trade represents a 35.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lesley Evancho sold 20,000 shares of the stock in a transaction dated 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 transaction, the insider owned 184,607 shares of the company’s stock, valued at $11,203,798.83. This represents a 9.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 61,158 shares of company stock worth $3,742,983. 0.72% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EQT

Several large investors have recently bought and sold shares of EQT. Captrust Financial Advisors raised its position in shares of EQT by 104.4% during the fourth quarter. Captrust Financial Advisors now owns 40,787 shares of the oil and gas producer’s stock worth $2,186,000 after acquiring an additional 20,828 shares during the last quarter. Adalta Capital Management LLC raised its position in shares of EQT by 23.2% during the fourth quarter. Adalta Capital Management LLC now owns 13,920 shares of the oil and gas producer’s stock worth $746,000 after acquiring an additional 2,620 shares during the last quarter. Adams Natural Resources Fund Inc. raised its position in shares of EQT by 19.1% during the fourth quarter. Adams Natural Resources Fund Inc. now owns 262,600 shares of the oil and gas producer’s stock worth $14,075,000 after acquiring an additional 42,100 shares during the last quarter. Beck Capital Management LLC raised its position in shares of EQT by 0.7% during the fourth quarter. Beck Capital Management LLC now owns 119,508 shares of the oil and gas producer’s stock worth $6,406,000 after acquiring an additional 775 shares during the last quarter. Finally, Motley Fool Asset Management LLC raised its position in shares of EQT by 9.0% during the fourth quarter. Motley Fool Asset Management LLC now owns 11,075 shares of the oil and gas producer’s stock worth $594,000 after acquiring an additional 918 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors.

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.