EQT (NYSE:EQT) Price Target Lowered to $70.00 at BMO Capital Markets

EQT (NYSE:EQT) had its target price decreased by BMO Capital Markets from $76.00 to $70.00 in a research report sent to investors on Wednesday,MarketScreener reports. BMO Capital Markets currently has an outperform rating on the oil and gas producer’s stock.

Several other research analysts have also issued reports on EQT. Stephens dropped their price objective on EQT from $78.00 to $73.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. The Goldman Sachs Group dropped their price objective on EQT from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Barclays increased their price objective on EQT from $67.00 to $69.00 and gave the stock an “overweight” rating in a research note on Monday, March 16th. JPMorgan Chase & Co. increased their price objective on EQT from $68.00 to $72.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 17th. Finally, Wells Fargo & Company increased their price objective on EQT from $70.00 to $79.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.83.

EQT Stock Up 0.1%

Shares of EQT stock opened at $55.86 on Wednesday. The stock has a market cap of $34.94 billion, a P/E ratio of 10.60, a price-to-earnings-growth ratio of 0.95 and a beta of 0.59. EQT has a one year low of $48.47 and a one year high of $68.24. The stock has a fifty day moving average price of $60.76 and a 200 day moving average price of $57.76. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.66 and a quick ratio of 0.66.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, April 21st. The oil and gas producer reported $2.33 EPS for the quarter, topping the consensus estimate of $2.01 by $0.32. The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.14 billion. EQT had a return on equity of 9.74% and a net margin of 31.94%.During the same period last year, the business earned $1.18 earnings per share. Analysts predict that EQT will post 4.69 earnings per share for the current year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Wednesday, May 6th will be paid a $0.165 dividend. The ex-dividend date is Wednesday, May 6th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.2%. EQT’s dividend payout ratio (DPR) is 12.52%.

Insiders Place Their Bets

In other news, Director Vicky A. Bailey sold 4,116 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $59.80, for a total value of $246,136.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sarah Fenton sold 4,876 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $64.49, for a total value of $314,453.24. Following the completion of the sale, the executive vice president owned 52,953 shares of the company’s stock, valued at approximately $3,414,938.97. This trade represents a 8.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 65,274 shares of company stock valued at $3,989,120. 0.72% of the stock is owned by corporate insiders.

Institutional Trading of EQT

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Greykasell Wealth Strategies Inc. acquired a new stake in EQT in the fourth quarter worth about $26,000. Aventura Private Wealth LLC acquired a new stake in EQT in the fourth quarter worth about $31,000. Fortitude Family Office LLC increased its position 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 worth $31,000 after purchasing an additional 280 shares during the period. Elyxium Wealth LLC acquired a new stake in EQT in the fourth quarter worth about $49,000. Finally, Root Financial Partners LLC increased its position in EQT by 35.4% in the first quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer’s stock worth $49,000 after purchasing an additional 202 shares during the period. 90.81% of the stock is currently 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.