EQT (NYSE:EQT) Upgraded at StockNews.com

StockNews.com upgraded shares of EQT (NYSE:EQT – Get Rating) from a sell rating to a hold rating in a research report sent to investors on Wednesday.

Several other research analysts have also weighed in on EQT. Scotiabank reaffirmed a sector outperform rating on shares of EQT in a research report on Monday, July 25th. Wells Fargo & Company boosted their price target on EQT from $51.00 to $62.00 and gave the stock an overweight rating in a research report on Monday, July 11th. Morgan Stanley reduced their target price on EQT from $50.00 to $48.00 and set an overweight rating for the company in a research note on Tuesday, July 19th. Truist Financial lifted their target price on EQT from $35.00 to $60.00 in a research note on Thursday, April 21st. Finally, Tudor Pickering upgraded EQT from a hold rating to a buy rating and set a $58.00 target price for the company in a research note on Monday, April 11th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, EQT presently has a consensus rating of Moderate Buy and a consensus price target of $52.83.

EQT Stock Up 2.5 %

Shares of EQT stock opened at $42.28 on Wednesday. The firm has a market cap of $15.64 billion, a PE ratio of -15.54, a P/E/G ratio of 0.23 and a beta of 1.19. EQT has a 52-week low of $15.71 and a 52-week high of $50.41. The business’s 50 day simple moving average is $40.54 and its 200 day simple moving average is $34.78. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.57 and a current ratio of 0.57.

EQT (NYSE:EQT – Get Rating) last posted its quarterly earnings results on Wednesday, July 27th. The oil and gas producer reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.32. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.63 billion. The firm’s revenue for the quarter was up 61.7% compared to the same quarter last year. During the same period last year, the firm earned $0.07 EPS. On average, analysts predict that EQT will post 3.72 earnings per share for the current fiscal year.

EQT Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Tuesday, August 9th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, August 8th. This is an increase from EQT’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 1.42%. EQT’s payout ratio is -18.38%.

Institutional Trading of EQT

Several institutional investors have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC lifted its position in shares of EQT by 32.7% during the 1st quarter. Kestra Advisory Services LLC now owns 17,140 shares of the oil and gas producer’s stock valued at $590,000 after acquiring an additional 4,223 shares during the period. Advisor Partners LLC lifted its position in shares of EQT by 3.5% during the 1st quarter. Advisor Partners LLC now owns 19,492 shares of the oil and gas producer’s stock valued at $671,000 after acquiring an additional 656 shares during the period. CWA Asset Management Group LLC bought a new stake in shares of EQT during the 4th quarter valued at $3,540,000. Park Avenue Securities LLC lifted its position in shares of EQT by 46.3% during the 1st quarter. Park Avenue Securities LLC now owns 37,995 shares of the oil and gas producer’s stock valued at $1,307,000 after acquiring an additional 12,031 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its position in shares of EQT by 46.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 15,680 shares of the oil and gas producer’s stock valued at $341,000 after acquiring an additional 4,947 shares during the period. 90.34% of the stock is currently owned by institutional investors.

About EQT

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EQT Corporation operates as a natural gas production company in the United States. The company produces natural gas, natural gas liquids (NGLs), including ethane, propane, isobutane, butane, and natural gasoline. As of December 31, 2021, it had 25.0 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 2.0 million gross acres, including 1.7 million gross acres in the Marcellus play.