Wells Fargo & Company Increases EQT (NYSE:EQT) Price Target to $58.00

EQT (NYSE:EQT - Free Report) had its price objective hoisted by Wells Fargo & Company from $53.00 to $58.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the oil and gas producer's stock.

A number of other analysts have also commented on EQT. Citigroup upped their price objective on shares of EQT from $51.00 to $60.00 and gave the company a "buy" rating in a research note on Monday, March 17th. JPMorgan Chase & Co. raised their price objective on shares of EQT from $58.00 to $60.00 and gave the stock an "overweight" rating in a research note on Thursday, March 13th. UBS Group lifted their price objective on shares of EQT from $54.00 to $58.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 25th. Sanford C. Bernstein raised EQT from a "market perform" rating to an "outperform" rating and set a $73.00 target price for the company in a research report on Wednesday, January 15th. Finally, StockNews.com raised EQT from a "sell" rating to a "hold" rating in a research report on Friday, March 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $54.50.

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EQT Price Performance

EQT stock traded down $0.84 during mid-day trading on Wednesday, hitting $52.89. The company's stock had a trading volume of 12,816,051 shares, compared to its average volume of 7,303,400. EQT has a twelve month low of $30.02 and a twelve month high of $56.66. The stock's fifty day moving average price is $51.25 and its two-hundred day moving average price is $44.28. The stock has a market capitalization of $31.60 billion, a P/E ratio of 132.23, a P/E/G ratio of 0.64 and a beta of 1.12. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37.

EQT (NYSE:EQT - Get Free Report) last announced its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.19. EQT had a return on equity of 4.35% and a net margin of 4.37%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.81 billion. Research analysts forecast that EQT will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were given a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.19%. The ex-dividend date was Tuesday, February 18th. EQT's dividend payout ratio is 157.50%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Truvestments Capital LLC bought a new stake in EQT in the third quarter worth $30,000. Quarry LP boosted its stake in shares of EQT by 184.7% during the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer's stock worth $33,000 after acquiring an additional 578 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of EQT during the 3rd quarter worth about $36,000. Financial Avengers Inc. increased its holdings in shares of EQT by 100.8% during the 3rd quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer's stock valued at $37,000 after acquiring an additional 504 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. raised its stake in shares of EQT by 47.7% in the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer's stock valued at $44,000 after acquiring an additional 310 shares in the last quarter. Institutional investors 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.