Piper Sandler Reaffirms “Overweight” Rating for EQT (NYSE:EQT)

Piper Sandler reissued their overweight rating on shares of EQT (NYSE:EQT) in a report published on Tuesday morning, Benzinga reports. The firm currently has a $46.00 price objective on the oil and gas producer’s stock, up from their prior price objective of $41.00.

Other research analysts have also recently issued reports about the company. Morgan Stanley upped their price objective on EQT from $37.00 to $49.00 and gave the company an overweight rating in a report on Wednesday, April 17th. Truist Financial cut their price objective on EQT from $37.00 to $35.00 and set a hold rating for the company in a research report on Friday, April 5th. Sanford C. Bernstein raised shares of EQT from an underperform rating to a market perform rating and upped their target price for the company from $27.00 to $34.00 in a research report on Wednesday, April 10th. Wells Fargo & Company cut shares of EQT from an overweight rating to an equal weight rating and dropped their price target for the company from $48.00 to $37.00 in a research report on Wednesday, April 17th. Finally, Royal Bank of Canada reaffirmed an outperform rating and set a $46.00 price objective on shares of EQT in a research report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $44.56.

EQT Trading Up 2.0 %

NYSE EQT traded up $0.79 on Tuesday, reaching $40.27. 5,992,967 shares of the company were exchanged, compared to its average volume of 6,593,218. EQT has a fifty-two week low of $30.84 and a fifty-two week high of $45.23. The stock has a market capitalization of $17.78 billion, a P/E ratio of 29.18 and a beta of 1.09. The business’s fifty day moving average price is $36.75 and its 200 day moving average price is $37.88. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. EQT had a net margin of 10.96% and a return on equity of 4.57%. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the firm posted $1.70 earnings per share. EQT’s quarterly revenue was down 28.8% on a year-over-year basis. Analysts forecast that EQT will post 1.12 earnings per share for the current year.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th will be issued a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Tuesday, May 7th. EQT’s payout ratio is 45.65%.

Institutional Investors Weigh In On EQT

Several hedge funds have recently made changes to their positions in EQT. Private Wealth Management Group LLC purchased a new position in EQT during the fourth quarter worth about $30,000. BKM Wealth Management LLC purchased a new position in EQT in the fourth quarter valued at about $40,000. Principal Securities Inc. acquired a new stake in shares of EQT during the 4th quarter valued at approximately $51,000. Allworth Financial LP boosted its stake in shares of EQT by 26.9% during the 3rd quarter. Allworth Financial LP now owns 1,332 shares of the oil and gas producer’s stock worth $54,000 after acquiring an additional 282 shares in the last quarter. Finally, First Command Advisory Services Inc. acquired a new stake in shares of EQT in the 3rd quarter worth approximately $54,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

About EQT

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.