Brokerages Set EQT Corporation (NYSE:EQT) PT at $68.83

Shares of EQT Corporation (NYSE:EQT) have received an average recommendation of “Moderate Buy” from the twenty-eight brokerages that are covering the firm, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation, twenty have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $68.8333.

A number of brokerages recently weighed in on EQT. Truist Financial began coverage on EQT in a report on Tuesday, March 24th. They issued a “buy” rating and a $74.00 target price on the stock. Sanford C. Bernstein reduced their target price on EQT from $73.00 to $69.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. Citigroup lifted their target price on EQT from $66.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Evercore lifted their target price on EQT from $60.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Finally, Wolfe Research boosted their price objective on EQT from $64.00 to $69.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th.

Insiders Place Their Bets

In other EQT news, Director Vicky A. Bailey sold 4,116 shares of the business’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $59.80, for a total transaction of $246,136.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Lesley Evancho sold 20,000 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $60.69, for a total value of $1,213,800.00. Following the transaction, the insider owned 184,607 shares in the company, valued at approximately $11,203,798.83. This represents a 9.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 28,992 shares of company stock worth $1,774,390 over the last quarter. 0.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cullen Frost Bankers Inc. increased its position in shares of EQT by 8,000.9% during the third quarter. Cullen Frost Bankers Inc. now owns 153,431 shares of the oil and gas producer’s stock worth $8,351,000 after acquiring an additional 151,537 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of EQT by 116.4% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 534,485 shares of the oil and gas producer’s stock worth $29,092,000 after acquiring an additional 287,538 shares during the last quarter. Canada Post Corp Registered Pension Plan increased its position in shares of EQT by 131.7% during the third quarter. Canada Post Corp Registered Pension Plan now owns 87,629 shares of the oil and gas producer’s stock worth $4,772,000 after acquiring an additional 49,803 shares during the last quarter. Sound Shore Management Inc CT increased its position in shares of EQT by 31.8% during the third quarter. Sound Shore Management Inc CT now owns 1,526,821 shares of the oil and gas producer’s stock worth $83,105,000 after acquiring an additional 368,748 shares during the last quarter. Finally, Advisors Preferred LLC purchased a new stake in shares of EQT during the third quarter worth about $998,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Price Performance

Shares of EQT stock opened at $55.17 on Friday. EQT has a twelve month low of $48.47 and a twelve month high of $68.24. The stock has a market capitalization of $34.51 billion, a P/E ratio of 10.47 and a beta of 0.59. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.19. The business’s fifty day moving average price is $59.66 and its 200 day moving average price is $57.98.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, April 21st. The oil and gas producer reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.32. EQT had a return on equity of 9.74% and a net margin of 31.94%.The firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter last year, the firm earned $1.18 earnings per share. As a group, research analysts anticipate that EQT will post 4.63 earnings per share for the current year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Wednesday, May 6th will be paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Wednesday, May 6th. EQT’s payout ratio is currently 12.52%.

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.