EQT (NYSE:EQT) Hits New 1-Year High – Here’s What Happened

EQT Corporation (NYSE:EQT) reached a new 52-week high on Monday . The company traded as high as $62.49 and last traded at $61.5420, with a volume of 1528133 shares changing hands. The stock had previously closed at $61.42.

Analysts Set New Price Targets

A number of research firms have commented on EQT. The Goldman Sachs Group reduced their price target on EQT from $70.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday, January 22nd. BMO Capital Markets lowered their target price on shares of EQT from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, January 12th. JPMorgan Chase & Co. upped their price target on shares of EQT from $58.00 to $68.00 and gave the company an “overweight” rating in a research report on Thursday, February 19th. Citigroup lowered 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. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of EQT in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.55.

EQT Price Performance

The business’s fifty day moving average is $55.23 and its 200-day moving average is $54.87. The firm has a market cap of $38.51 billion, a PE ratio of 18.62, a P/E/G ratio of 0.41 and a beta of 0.72. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.76 and a quick ratio of 0.76.

EQT (NYSE:EQT) last released its earnings results on Tuesday, February 17th. The oil and gas producer reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.14. EQT had a return on equity of 7.25% and a net margin of 23.59%.The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the company posted $0.69 EPS. EQT’s quarterly revenue was up 24.8% compared to the same quarter last year. On average, research analysts predict that EQT Corporation will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 17th will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, February 17th. EQT’s dividend payout ratio is 19.94%.

Insider Activity at EQT

In other news, EVP Sarah Fenton sold 3,768 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $60.37, for a total value of $227,474.16. Following the completion of the transaction, the executive vice president owned 52,806 shares of the company’s stock, valued at approximately $3,187,898.22. This trade represents a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Todd James sold 32,514 shares of EQT stock in a transaction dated Monday, February 23rd. The shares were 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 owned 58,796 shares of the company’s stock, valued at $3,593,611.52. The trade was a 35.61% decrease in their position. The SEC filing for this sale provides additional information. 0.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EQT

Several large investors have recently modified their holdings of EQT. Greykasell Wealth Strategies Inc. acquired a new stake in shares of EQT during the fourth quarter worth about $26,000. Aventura Private Wealth LLC purchased a new stake in EQT during the fourth quarter worth about $31,000. Fortitude Family Office LLC increased its holdings in EQT by 95.6% in the fourth quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 280 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in EQT in the second quarter valued at about $41,000. Finally, Anchor Investment Management LLC lifted its position in shares of EQT by 133.3% during the 2nd quarter. Anchor Investment Management LLC now owns 875 shares of the oil and gas producer’s stock valued at $51,000 after acquiring an additional 500 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

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.